Bringing On Another Director
Yesterday I was talking with an incredible Boardroom member, Raj.
He’s had fantastic growth over the last 3 years.
Between 30% and 50% growth each year.
And we were talking about what’s next.
He’s on track to hit $2M in revenue.
And really wants to get to $5M and beyond.
We were talking through different growth strategies.
And the concept of bringing on another Director into the business came up.
Now there’s plenty of pros and cons for bringing on another Director into your business.
Whether you’re thinking of going from 1 to 2 Directors.
2 to 3 Directors. Or 3 to 4 Directors.
It always needs consideration.
And evaluating whether it’s right for you.
So first things first - you need to work out what you want.
Do you want others sitting around the table with you?
Helping make strategic business decisions.
And sharing the load when it comes to where the business is going and how it’s going to get there?
Or do you prefer things the way they are?
Because when someone signs up to be a company Director.
They take on the responsibility and the liability for the business.
Meaning they are responsible for helping steer and grow the business.
They take a seat around the Board table.
And they’re required to be involved with or aware of all business decisions - no matter how big or small.
Because, they also sign up to the liability and the risk in the business as well.
It’s a big decision and one that shouldn’t be made lightly.
It can be incredible, sharing the Director load with others in the business.
You can make some serious business magic happen when you and other Directors are all headed for the same goal.
But it can also be a distraction and have a negative impact if it’s not right for you or the business.
So like I said - you have to work out what you want first.
This is the most important step.
And then take action from there.
Hope this helps.
And if you’d like some help as you build your business.
More revenue. More profit. More growth.
We might be able to help.
Book in a short, no-obligation Business Growth Call and let’s have a chat.
Link to book here 👉 Click Here
To your success.
Josh
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