As your business grows, you are going to have challenges. Our friends at Strategic Coach would call this the “ceiling of complexity.” At some point, your business will get so complicated that you will not be able to manage it effectively. You cannot figure out how to make the business work better, and it will not grow without new thought or fresh ways of thinking about it.
How do you get new ideas into your business? How do you bring outside perspective? One way is to talk to management groups or to work with outside coaches and counselors. Another way is getting a Board of Directors or a Board of Advisors, which we have discussed several times in other blogs. Here, you have built-in, diverse perspectives. Because you are not in the same company, and you are not constantly working together, you will view things differently. You are going to have different, fresh ways of providing solutions.
This is a great way to keep your business moving, progressing, and finding new avenues for growth and expansion. It can help you break through those problematic times when you are struggling to find the next direction. A Board of Directors can also provide continuity and other benefits that we have talked about in previous blogs. Regardless of your stage of growth, this is definitely something worth considering for your business.
What has been your experience in using a Board of Directors or Advisors? Have you found fresh ideas by using someone outside your business? Join us in the comments below.
This posting is intended to be a tool to familiarize readers with some of the issues discussed herein. This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. This article should not be treated as legal advice to any person or entity. Freeimages.com/Photographer Nick Cowie.
About the Author
Shawn McBride — R. Shawn McBride is the Managing Member of The R. Shawn McBride Law Firm, PLLC. Shawn works successful, private business owners in their growth and missions to make a company that stands the test of time. You can email R. Shawn McBride or call (214) 418-0258.
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