The senior leadership team is fundamentally responsible for running the company. They're accountable for creating the company vision and day-to-day operations. But even the most experienced leadership team needs trusted people standing with them who can help set expectations for the company.
Key Reasons why having the BoD is a value accelerator is pivotal in developing a strategic philosophy, mission, and accountability.
Successful companies identify market opportunities and apply corporate resources to these opportunities, which leads to creating products/services that clearly defined market segments want to buy.
Most founders love their product so much that they forget to think about what they are doing wrong and what they should do to make it buyable.
Having a board that you can be completely open and transparent with gives your company direction to develop mission statements that have the power to attack a specific set of product, market, financial, and organizational goals.
Moreover, having the BoD gives more accountability toward shareholders, ensuring they get all the needed information. The BoD acts as a fiduciary to the shareholders of the company.
A board serves as a protective entity for the interests of your company's shareholders, meeting regularly to discuss ways to increase returns and overall profits. They do it by creating policies for the overall company.
Triple G Ventures Gregg Stein recently sat with Board of Directors Guru, Rick Williams about why having a board of directors is a value accelerator. Learn more from our Podcast Series:
Learn more about Rick Williams
Rick Williams is the founder and Managing Director of Williams Advisory Partners.
Most of his recent career has been serving on the board of directors of technology companies. Today, Rick helps leaders make important decisions, prepare to raise capital, and overcome barriers to growth. He also recently published a book called, "Create the Future - for your company and yourself," which he wrote specifically for leaders who believe they drive the future for their organization and for themselves by the decisions they make.
Learn more about Success at Scale with Triple G Ventures here:
This podcast covers business stories from experienced entrepreneurs, business leaders, and startup founders on how to translate business ideas into business results.
In each episode, Gregg shows how companies grow from seed to scale, testing his theories with successful business leaders.
Success at Scale is hosted by Gregg Stein, Founding Partner of Triple G Ventures. Through Triple G Ventures, Gregg serves as CEO, Board Member, and Investor at SKOOG INC, and also leads Strategic Growth at Artiphon, ASI Audio, Hummingbirds.Ai, Promoly and many more.
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Connect with Success at Scale Podcast via email: hello@triplegventures.com