Why Hire Outside Directors When Private Companies Don’t Have To? Change! Break the Status Quo. Rejuvenate

Abstract

You need these fellows to increase cash flow and provide valuable guidance, contacts, growth, and credibility. Companies committed to going through significant business change need advice. Outside directors bring an independent perspective, develop strategic thinking and planning, utilize their experience and objectivity, provide their contacts Rolodex, find capital to finance the company, and guide transaction activity. After all, you have nothing to lose, and everything to gain by considering their advice when you make decisions that will influence your company. Remember, the key is for the CEO and management team to listen to the information given and factor these inputs into their thinking, then make decisions.