Board Advisory
Most Middle Market private companies do not generate returns beyond the cost of capital. And while there is nothing wrong with running a “lifestyle” company, value creation is the ultimate scorecard, and a board can help you create value and unlock the liquidity trapped in your business.
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As most Entrepreneurial leaders are operating perpetually at the top of their game and constantly pushing the envelope of their capabilities to new heights (navigating uncharted waters and making critical decisions they have never made before), a good and effective board allows entrepreneurs and CEOs to tap into new ideas, past learnings and engage a network of other professionals known by the board to unlock value faster and with less risk.
Belief
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The Boards Role
The board’s role is to serve as a catalyst to the CEO's vision and assist and elevate the Entrepreneur's or CEO's strategic view of the world. The board should be an ally to the CEO, perhaps the loneliest job on the planet. And a board chair’s job is to amplify the CEO's capabilities and effectiveness as consigliere and confidant.
The CEO and board partnership is among the most critical relationships for achieving outlier results. This partnership differs significantly from public company board service. Entrepreneurs seeking to transition from a lifestyle company to an investment-grade company benefit the most from an effective board.
Mutual Reward
Having served on and chaired several Middle Market boards and worked with and challenged CEOs, business owners, and management to higher levels of achievement and satisfaction, empowering leaders through board service has been some of the most significant work of my career.
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I encourage you to explore the power of an advisory board to take your private company to the next level. If you have the courage to share your vision, hold yourself more accountable to actual value creation and acceleration, and seek a board's wisdom, you will find the journey well worth the effort.
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Lastly, if you are contemplating M&A, either buy-side or sell-side, you must have a knowledgeable board supporting this vital objective. The stakes are too high to go it alone.