Would you run a mile at the thought of holding regular Board Meetings with a Board of Directors, cringe at the thought of being accountable to a group of people about your business, gasp at someone else having an opinion about your business …let’s pause right there!

The results of your business are limited to the ideas of the people who give input to your business. Who is currently giving you the strategic direction and clarity that you need to make your business the best business that it can be?

Consider this:

Your Board of Directors can be as simple as the owners of your business, along with your strategic advisor (with many of our clients Sullivan Dewing), meeting once a month to strategically review the financial performance for the month and discuss other issues, for example:

• Should the business expand
• How to reward key team members
• How to create different product streams
• Analysing different products or jobs to ensure they are profitable
• Moving business premise or buying a business premise

Analysing sales results by state, customer and product group It’s important to note that external members of the board are quite often impartial, unemotional & give clarity as well as strategic direction. They are not concerned or bogged down with the day to day running of your business. Once the process is systemised and everyone attends regularly it becomes a habit to review the business strategically and discuss key challenges facing the business.