One of the problems with running an SME is that it is a pretty lonely place to be.
Invariably, you own the majority of the shares and your board of directors is likely to be made up of over promoted staff. The Sales Director was the best salesman; the Finance Director was your faithful bookkeeper etc. They are great people but they are not Directors.
The important point is that their interests in the success of the company is not the same as yours and therefore discussing company policy with them is pretty much a one way street with you ending up by telling them what you want as opposed to “team managing” the business with them. Your significant other is also fed up to the back teeth hearing about your business issues on a nightly basis that you no longer bring them up.
You can’t however do it alone; you do need to bounce your ideas of someone, if only to help you formulate your thoughts. A hearty debate will provoke no end of good ideas, mostly yours, because you are the one who truly knows your business and what you want to achieve.
This is why appointing a Non Exec Director can play a crucial role. He or she should be a seasoned business person who can help you to see the bigger picture and give you and the Board constructive and impartial advice. Balancing the Board in this way can be a very liberating experiences for a business owner.
Ride the Storm will be very happy to advise you on the ideal Non Exec for your company and even help you find a suitable candidate.