I have seen the benefits of appointing a Non-Executive Director to our board
I like to believe I am an independent thinker and can make good and balanced decisions which are in the best interests of my company as a whole. It has taken some time to tune both myself and my management and directors to looking outside the square when engaging in strategic thinking for business planning. We have a successful company and are not adverse to risk taking, when it can be seen to have a high likelihood of positive outcomes.
How then do we keep this balance and not get overwhelmed in the path to success and fall into the traps which destroy company value. We are not a big company and are privately owned, however with revenue in the millions we thought it was time to take on some big company habits and practices. Our first major step in this direction was to restructure the board and appointed a non-executive director. It has proven very beneficial, as we have been fortunate to gain the benefit of not only directors who have acted independently, but also we have been able to capatilise on the mentoring benefits of appointing experience directors who had business experience outside our company’s sphere.
It has paid dividends, both financially and in structuring our company for the future. We all feel more confident now that our business plans and structural practices are put through a review process that we alone would either not have undertaken, or not with the same degree of scrutiny and unbiased criticism. Even if the outcome has not changed, the review process is rigorous and uncompromising. We are proud of our achievements and have taken significant steps for a company of our size, which should see the expansion process achieved without hiccups. We see smooth sailing ahead, as we achieve our corporate goals with confidence.
