1. Learn to delegateWhen setting up a board, you have to gather a team who are capable of making decisions and running things without constant supervision. While help and counsel should be available where necessary, you should also feel free to share responsibility and empower others to lead the way. After all, it’s their business too. A huge part of this involves delegating. Learning to pass responsibility to others is an important step and you have to empower your team to do the best job.
3. Embrace challengesCommunication is a great way of minimising problems, but there are always going to be hurdles along the way. At board level, these arise when people haven’t properly understood the responsibility of becoming a director. Suddenly you’re liable for anything that might go wrong and that’s a big deal. There are also bound to be personality and style clashes. If you communicate and find ways to help others understand not just what but why you’re doing something, people will work harmoniously. Finance, for instance, is tremendously easy for some people to understand whereas others require information to be downsized or illustrated with graphs. An important mantra is that there are always different and often better ways to do something.
Three golden rulesHave a purpose, be honest and make sure there are clear actions and outcomes. If I could add a fourth, it would have to be to keep board meetings short! Syd Nadim is the founder and executive chairman of digital creative agency, Clock, which has grown from a Prince’s Trust start-up into a key player in the digital sector, while acting as an incubator for other start-ups. Image source
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