Written by Rocco Luisi, CLO of Integral Board Group
Are you ready to scale your business? Don't do it alone! Using an Advisory Board or Board of Directors to strategize a successful scaling process takes the pressure off small and midsize private companies trying to 'go it alone.' Scaling without a Board is like an NFL team trying to win the Super Bowl without a head coach (Chairman), defensive/offensive coordinators, and coaches for special teams, quarterbacks, offense/defensive line, linebackers and secondary.
Strategy is key to a successful scale. For example, Boards are critical in objectively assessing an organization's capacity to scale. Does the current CEO have the skill set to manage, and is her leadership style a good fit for, a larger, more complex organization? In addition, Boards are essential in keeping management focused on the strategic plan as each growth opportunity arises. Is a major contract with a potential client whose manufacturing facility was named a Superfund site a fit for the company's mission to ultimately work only with green companies? Boards are also instrumental in formulating strategy for each incremental growth step. Now that we have fifty new employees, our gross annual sales are projected to grow $10 million, and we have 100,000 square feet of new office space, do we have enough and the right kinds of insurance?
If you're having trouble putting your Board together or just don't have the bandwidth to take on this Herculean task, consider Board as a Service (BaaS). Integral Board Group is the only Board Service Provider (BSP) offering a ready-built, for-hire Board of Advisors that will help your company successfully scale.