Having an Outsider, In?
By Andy Brown
Why is a non-Family member often a good person to have on the board of a business?
Often SME's (Small to Medium Enterprises) are family based. The decisions and operations come from a closed group without any outside input. This can sometimes mean that ideas become stale and that decisions may not be made objectively.
What is often missing is an independent director who can participate and give value to the strategic direction of the business.
These independents can give the business extra feedback and value through their experience and skills without there being the conflict of interest, that they are family. They can give a fresh, outsiders view and help to keep the board balanced.
If you are interested, we have helped clients in the past, scope a person who suited their business. We can do the same for you! Make sure your business ia always moving forward and not stuck in a rut! Blood may be thicker than water, however it helps to have a fresh opinion.