Creating a winning board of directors

When you think of successful sports teams, you probably think of the star athletes, the ones with the baseball cards, endorsement deals, or their own shoes. And while these superstars are necessary and vital to winning, however there’s a whole team behind the scenes that makes it possible for those athletes to take the field or court. We think to have a successful business you should build your team to mirror these champions. You need your superstars who bring attention to the business, but you also need to build a strong foundation: your board of directors.

In order to build a successful team, we believe you need a variety of skills. First, you need experience. Someone who knows how to chair a board, is aware of the industry, and has a proven track record in leadership, the manager or the coach.

 

The next tip is not who you need but who you should avoid. You should avoid people who want a spot at the table clearly for the status of that seat. These people are generally more interested in the title and won’t have the best interest of your company.

 

You also need to be prepared to switch things up if it’s not working. There’s a reason why some athletes get traded frequently. You’re looking for the best fit for your company, and need to be willing to make hard adjustments. The players you trade may be excellent and amazing team members, but if their system of play isn’t fitting into your system, then it’s time to let them go. They’ll find a place that suits them better, and you’ll find a better fit for your team, too.

 

But when it comes time to make a trade, remember transparency is key. Be upfront about why you’re switching board members. The person who helped you successfully kickstart a special project might not be the best person for a future project. If this is explained in an honest and truthful manner, it’ll earn respect and trust of the other board members and employees. No one likes to feel blindsided or like they can’t trust the intentions of their board. The way to prevent this is to be open about it.

 

The best boards have the right mix of skills, abilities, and perspectives, so think carefully and holistically about whom you choose for your board. Get more tips on building your winning team by visiting embedded-knowledge.com.