3 steps to forming a
board of directors
A board of directors can be an economical way to keep any new
entrepreneurial venture on track to achieve its goals if it is properly
organized. By asking friends and/or family to serve as your board you
add the accountability factor. Having monthly or quarterly meetings in
person or over the phone will provide a sounding board for the path your
business is taking.

The board does not need to be experts in your business. In fact, it may
even be better if they are not. Their existence is not to guide you as
much as it is to make you think about, and defend, the way you spend
your time, money, energy, and other resources. They may ask many
questions that seem to be uninformed and naive. That is actually a very
good thing for the budding entrepreneur as it creates a need to educate
them. Answering the board’s questions will force the new entrepreneur
to think and rethink points revealing potential success or failure points.

To go to step 1, click here.

This is an excerpt from “Life’s Leadership Lessons” a collection of 53
anecdotal leadership lessons, each with an anecdote and the application
of the topic in your everyday life. It is designed for use in weekly staff
meetings or for personal development.

©2007, 2017 Max Impact, Rochester Hills, Michigan, USA
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