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
Board of Director Formation
3 easy steps
©2014 Max Impact, Rochester Hills, Michigan, USA
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