Need Help with Your Leadership Boards? Here’s Where To Get It.By Nina Kaufman, Esq.
Terror gripped me. The Summons and Complaint for a malpractice had my name in the caption. I’m stunned. The client was a whack job, yet just 2 years into my law practice, my license was on the line. What could I do?
I’m no dope. As a lawyer, I could have figured out most of it myself. But would DIY’ing my legal defense have sucked time from earning money? Yup. Would I have taken a big risk of missing something vital, not being an expert in malpractice law or those rules of practice? You betcha. And would I have had trouble staying dispassionate in court hearings? Oh yeah!
In the end, I followed Abraham Lincoln’s advice: “He who represents himself has a fool for a client.” I hired an attorney. (And the case was dismissed before it even got off the ground).
Are you doing the same for leadership of your business? Are you actively seeking guidance from others or treating your business as a DIY project? Here are several common sources for sound outside leadership:
- Board of Directors – Any company—large or small—can recruit a board of directors. A board of directors has ultimate decision- making powers. The President/CEO has day-to-day operational control, but decisions can be overruled by a majority vote of the board.
- Board of Advisors – An advisory board doesn’t have decision-making authority. While you’re not obligated to follow their recommendations, in practice, their advice is very highly regarded (and you probably will).
- “Mastermind” Group – This describes a mutually supportive group of experienced business executives who meet to advise each other, rather than focusing on one company. Consider it a peer advisory team.
Whichever choice you make for your leader boards, you want them to be supportive of your goals, yet willing to challenge your strategy. A strong advisory team can be the catalyst that helps your business reach its greatest potential.
Tip: A prestigious name or two among your advisors can make for great publicity, especially if they really roll up their sleeves to help you.