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Working With Killer Boards

 

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by Mary-Rose Hoja in EPE, Sales

I frequently work with executives who want to get a stake in their company. Over and over again, I find that the only thing standing in the way of them accomplishing their goals is themselves.

I was reminded this week of a line from a Steven King book: “Monsters are real. Ghosts are too. They live inside us, and sometimes, they win”.

If you are in a position of leadership and have dreams of more, you must learn to live with the monsters inside of you, and deal with the ghosts from your past.  They’re the reason that you don’t currently have a stake in your company.

Prefer a video version of this post? We’ve got you covered!

https://youtu.be/aTl6wI9Vxv8

You really need to be taking an active stake in the kind of board you want to be working with. In essence, a part of taking ownership is to identify your soldiers and your enemies. Make note of your weak points, and manage them.  Over time, you are looking to evolve the situation, and if that doesn’t work, you will need to remove those hinderances.

When I use the phrase “killer board”, I’m referring to those incredibly challenging situations that will crush your spirit and suck the life out of you. They will also cripple your ability to lead, to innovate, and to make things better in the company.

So what do you do if you find yourself working with a killer board?  The first step is to identify where the problems are, and then manage the weak points and threats. You may come to the point where these people need to be removed from the board. Remember – evolution first, then revolution if that doesn’t work.

When taking on a new investor or looking at your current board, you need to decide on your strategy.  If you truly want to build and grow your business, you don’t want to be taking on investors or board members that are slash and burn. You want them to come in with content and be a strategic resource.  You need active involvement, not just passive management.

If you’d like to know more about taking control of your business, head over to expertprofitengine.com and download our free guide.

 

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