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Category Archives: Protecting the business
Ever receive worthless advice?
Ever get bad advice? Sure. We all have in our past. Ever take that advice without question because the person giving it was an investor, a superior in rank, the chairperson of your board? I’ll bet you have at least … Continue reading
I’ve been sued as a board member.
I’ve been sued as a board member too many times over the past twenty-five years of board service. Five times. Does that shock you? It does me. What’s the exposure? Here are some examples: Entrepreneurs blaming their board for failures … Continue reading
No surprises! Good advice for all of us.
First, keep your manager or board informed regularly. Most all leaders new to their position underestimate this time requirement. It is good for the company when you share concerns, threats and opportunities with your superiors or your board. The rule … Continue reading
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To directors and advisors: “Noses in; fingers OUT!”
Many of us have someone who reports directly to us and who supervises others in return. Well, this one is for you. And it is one of the most important lessons you can learn as a manager, board member, or … Continue reading
Are your board members as valuable as you?
Perhaps this is the natural conclusion from the several insights previously explored. While the CEO and management offer the vision, strategies, and tactics as well as the proposed budget, it is the board that controls with its votes the execution … Continue reading
Fight for balance on your board!
Picking up where we left off… In my last insight, I described the CEO who stacked the board with two friends, making a majority for control purposes and relegating the investor representatives to insignificance. There were no outside board members … Continue reading
Your need for a board grows with complexity.
Start-ups with one founder rarely have or need a board of directors. In fact, such a board would seem out of place in a one-person company. As soon as any outside money is ingested into the corporation, others have a … Continue reading
Your board should protect you!
All other board functions are secondary. Even venture capitalists who sit on boards where they have significant investments often forget this point. They write in their investment documents that they will occupy a seat on the board for as long … Continue reading
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Hire a consultant; ignore the advice!
The ideal use of consultants… At one time or another, most all businesses use consultants to fill the gaps in knowledge or to provide guidance for management. Consultants are good in that you can sample their work with short projects, … Continue reading
How to cheat legally on your tax return.
When do you cross the line between honesty and dishonesty in tax planning? Is it ethical to allocate income between periods to take advantage of tax breaks? Can expenses be put off until the next period to increase income, or … Continue reading
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