People & Human Resources

I don’t want a board ‘cause I’ll lose power

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Dear Aunty B,

I started a small business almost as a hobby and have since left my fulltime job to pursue the business.

It has got to the point where my accountant has suggested I set up a board. But I think it will just distract me, as who knows my business better than me?

I read up on the role of boards and it really put me off. I am also very entrepreneurial and don’t want to be held back.?

DF,
Vic

 

Dear DF,

I don’t know what you read but if you get a good board, you can grow a great business. I can’t tell you how many entrepreneurs bless their boards as they slip between their sheets every night.

You are basically surrounding yourself with people who have done it all before. And are happy to advise you, encourage you and help you.

They also point out that your latest idea will be a ripsnorter or send you to an early grave. They’ll push you harder when you think you have been running hard and they’ll call you into line when you turn into a manic lunatic. They will make you rework your flaky ideas until they are firm and solid or you dump them as too risky or not worth the distraction and resources?

A board can cost you. But as one entrepreneur once said to me: “Can you afford not to have a quarterly meeting with a group of smart people who are there to help you?”

Good luck,
Your Aunty B

To read more Aunty B advice, click here.

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