Brendan Lewis, writing for Smart Company, raises very valid points in his latest piece “Killer Boards for Small Businesses“..
Forget accountants, marketers and lawyers, you can buy their services as you need. Forget industry doyens and professional directors, they are unlikely to be anything more than a distraction to a small growing business. What you want as a small business is additional directors that can help you with one or more of the following four tasks:
1. Grow revenues.
2. Raise capital.
3. Get the right people involved.
4. Exit the business.
If they can’t help you with one of the above tasks through their existing networks and assets, they’re just wasting your time.
Please pay attention… Being a nice person is great, but it cannot be the only basis for such important decision making.