Many families leading thriving businesses at some point wonder about whether a Board of Directors would be valuable for their growth or a waste of time and energy. A business leader may want strong systems of accountability in place before the next generation of leadership takes the helm. Siblings may find kitchen table-style discussions are no longer working. Or an ownership group or management team may see a need for new vision, strategy and ideas to take the business to the next level.
In this webinar, our panel will share their experiences with businesses contemplating creating a board, speak to the most common reasons and benefits behind the decision, and provide guidance on laying the groundwork for success.
Who should attend:
- Family and Non-Family leaders in businesses that do not yet have a functioning Board of Directors or are just beginning the process of forming a Board,
- Next generation successors who are curious about how a Board might help them succeed,
- Advisors (attorneys, estate planners, financial advisors, etc.) that work with businesses that do not yet have governance systems in place,
- Potential or current independent directors to family Boards who want to learn more about the unique benefits and challenges of Directors in family enterprises.
What will you learn?
A Board of Directors can be a meaningful asset for your business – if the business is ready. In this session, our panel will share case studies and perspective from their experiences with family businesses to demonstrate:
- The research-validated benefits of effective Boards on company success and longevity,
- Specific benefits of Boards in succession planning and times of leadership transition,
- How to determine the right time for your business to create a Board of Directors,
- The critical to-dos before beginning a Board process, and
- Common reasons that businesses avoid a Board, and how to work through them.
Suggested Articles
- Evolving Your Family Business Board
- Ten Myths About Outside Boards
- Good Governance for Family and Business Success
- How Sophisticated Does Our Governance Need to Be?
- The Special Role of Owners on Family Business Boards
- Ensuring that family business owners are strong contributors to the board
- Governance Beats Avoidance for Long-Term Family Business Harmony
- Getting the Right Mix of Family Members and Independents for a High-Performance Family Business Board
- Attracting Top Board Talent: The Power of the Board Prospectus!
- Hop on Board: Integrating New Directors with a Continuous Onboarding Process
- Report Cards as a Family Business Tool
You can also access hundreds of in-depth articles written by our team that address the unique challenges faced by family enterprises from communication and conflict to succession and continuity. Visit our Article Library.