Building a Successful Family Business Board: A Guide for Leaders, Directors, and Families (A Family Business Publication)

I wanted to learn more about board culture as it applies to family businesses and this book did not disappoint. It offers solid information on all aspects of board development. My knowledge base soared as a result of reading this book.

This is an excellent resource for any family business. Governance is such a vital and overlooked part of the evolution of a family business, and the authors do a great job of making this process clear, concise, yet thorough. It is the type of book that is both accessible to any reader yet filled with insight. Greg McCann, Professor at Stetson University and FB Consultant

I expected page after page of Captain Obvious's advice on business boards for family businesses. While there is plenty of that, I was surprised that my enthusiasm for independent board members in our family business was piqued to such an extent. Not a bad read!

This book was very helpful for our 90 year old 4th generation company that is looking to expand our board. I highly recommend this book.

Excellent book for Families contemplating establishing a legal or advisory board. Very practical suggestions.

Great book, on a timely topic, for all privately held businesses that will be in the process of transition in the near future. Very practical suggestions to facilitate the process of transition.

This reference book is described as "the Bible for Family Business leaders." The thesis is that an active board comprised of a mix of independent and owner directors is an invaluable tool for any business, regardless of ownership structure or size. The co-authors are recognized leaders in our field.Chapter 1 introduces a powerful alliance of independent boards of directors and family business. An effective board "meets at least three times a year, is well-organized and managed, and includes three or more independent (i.e., "outside") directors" (p.ix and 2)Chapter 2 describes the truths and myths about boards and argues for the need to meet the challenge. The authors cite their research, and explain 10 benefits of a board.Chapter 3 defines the role of the board in family business. Beyond legal responsibilities, there are 6 areas of value that balance the stakeholders' interests.Chapter 4 describes the special role of independent directors to the family business: to provide objectivity, business expertise, long term support of the family values and mission, succession planning, education, and continuityChapter 5 describes the vital role of the board in family business continuity planning, strategic planning, estate planning, and advice for avoiding pitfallsChapter 6 suggests ways to design the board, including a prospectus for selection, keys to success, essential qualities, terms of service, committees, compensation, and schedulingChapter 7 describes the process for finding and selecting directors, including search firms, CEOs, other risk-taking peers, the search process, liability, making selections, and a fine case studyChapter 8 explains how to manage the board, including details on roles, agendas, calendar topics, introducing the board background book, advance e materials, organizing a new boards, decision-making, communication tips, evaluation and rotationsChapter 9 provides tips on how to make the most of your board, including 6 rules for communication, styles, and troubleshootingChapter 10 explains how to link family and business governance in later generations, including the evolution of organizations, role of the family council, 24 tricky issues, culture, structure, interface with shareholdersChapter 11 describes how you can contribute as a director, tips for effective questions (see exhibit 11.1), supporting the CEO, special issues and unique rolesChapter 12 concludes with the author's call to action. The key benefits include helping the CEO, aiding in continuity, and being a resource during a crisis.There are 9 appendices, a bibliography, and detailed index designed to make application easier for readers. I strongly recommend studying and discussing this book with any stakeholders considering a family business board.Respectfully, Doug Gray, PhD, [email protected]. Author of OKR Leadership; How to Apply Silicon Valley’s Secret Sauce to Your Career, Team or Organization (2019)

Great information for family businesses