Some great blog posts by Simon Telfer (co-founder of Springboard NZ) – on boards that are worthy of a read.
Words for the wise – some great quotes from experienced board members … I like this one best
“Good news is written succinctly. Bad news is wordsmithed.” read the rest here>
Finance on Full Beam – “It’s like you’re speeding down a country road at midnight with only your park lights on”, Simon commented to a client. Scary thought.
The problem was their internal accounting team, who were ill-equipped for the requirements of a rapidly growing, idea rich and cashflow poor organisation.
This is not unusual. Some of the quickest and most enduring gains he has implemented with his clients, has simply involved upgrading their internal finance function… read the rest here >
When should you not set up a Board? and extract from Who’s on Board?
Here you have to be true to yourself. If in all honesty you have no desire to let go and have others involved in guiding your business then there’s no point. Similarly if you as the owner are happy with the status quo and have little appetite to grow your business or to seek a change of control then the time, effort and cost involved in establishing a Board may be questionable. Engaging someone to monitor risk and compliance issues would still be prudent but this could be achieved through your professional advisors rather than via a formal Director… read the rest here>