It’s no secret that I believe having a board (of directors / advisers), formal or not, is critical to a company’s success. As in life and in business, perspective is key when making important decisions and having someone who has your (or your company’s) best interest in mind, is a valuable resource.
As I was reading yesterday, I came across some great information about questions that a board must ask to really gauge the state of a company. If you are a CEO who has a board and they are not asking these questions, maybe you need to augment your board (or, find new members all together). If you are currently a board member and not asking these questions, you need to start.
Regardless on which side of the table you sit, these are critical questions that require considerable thought. Granted – some questions may not apply to all businesses but, if nothing else, maybe asking some of these questions today will position the company on a successful track thereby allowing you to ask the remaining question later?