Edison Partners’ Post

Last week, we launched a Board of Directors #BestPractices series: A step-by-step guide to board effectiveness. ⚡    Ultimately, the key to building an #effectiveboard is creating alignment among #boardmembers who possess diverse skills and experiences while sharing a common set of values and objectives that complement the company’s greatest needs. For growth-stage companies, we recommend having five to seven directors. Check out whose roles are essential in Partner, Edison Edge Casey Myers' latest blog: https://lnkd.in/gr7TwMiU #boardofdirectors #boardbestpractices #boardblueprint #boardtips

What an incredible event last night! We had an insightful conversation on the value a board brings to private businesses—and where it can sometimes hinder progress. Some key takeaways from the discussion include: • Less is more - Instead of overwhelming your board with a lengthy slide deck the day before a meeting, share a concise presentation that sparks healthy conversation and drives the company’s goals forward. • Clearly define the end goal - In PE-backed companies, a 3-5 year exit at a specific valuation is often the goal. But for long-standing family businesses planning their next phase, boards may struggle without a clear direction. • The right people matter - Your board should be made up of individuals who aren’t jockeying for managerial positions but are there to leverage their expertise and help achieve the company’s vision. • Foster an environment of respect - Disagreements are inevitable, but mutual respect ensures they remain productive and focused on business outcomes. Thank you to Summer Craig and Brandon Henry for sharing their insights and to Kim Denney for moderating the conversation. We are just getting started with our fall programming. Join us next month for a panel discussion on navigating the complexities of guiding distressed companies. Our panel of experts will offer practical insights on how to steer businesses through challenging times. Make sure to register through the link below! https://lnkd.in/gbayuQYy #BoardLeadership #Governance #PrivateBusiness #Networking #ProfessionalDevelopment #PDAHouston

Enjoyed my discussion with Christopher Sugden, Managing Partner at Edison Partners. Do you know the 3 top trends that set successful growth stage boards apart? Read my blog below to find out. #privatecompanyboards #boardofdirectors

Thank you to Tammy Dowley-Blackman for moderating an insightful conversation with panelists Bob Beckler, Sue Buchanan, Wendy Burden, Andria Long, and Arun T Saha during Tuesday’s DDI Program – “Understanding Board Opportunities: Mature Private Companies and the Family-owned Business.” Here are some key takeaways: 1.      Private company boards, in general, provide more opportunities than public companies to be involved in developing strategy and to see the day-to-day operations of the company.   2.      The workload of and compensation for private company board directors is generally less than that for directors of publicly traded companies, but time demands can change dramatically if there is a significant transaction going on. PE portfolio company boards also may meet monthly, and sometimes even weekly, for brief updates on the business. 3.      When imagining the typical pyramid-shaped business structure, you can think about three rooms with stakeholders in the top room, the board in the middle room, and the executive management in the room at the base.  With a family-owned company, there is a fourth room, the “family room,” that traverses all three levels of the pyramid, because family members can serve on the board, be shareholders, and they can be part of management. Board members need to understand the dynamic this creates.  4.      For family-owned companies, it is important to understand “the family’s purpose.” For instance, is it long-term value creation or finding a buyer to provide liquidity to the family shareholders? 

Have you ever wondered why boards play such an important role in businesses? Boards play a vital role as the eyes and ears of public and private investors in businesses that are getting increasingly complex. However, despite this, board membership is often seen as a reward for success, offering status, money, and even stocks in a potential unicorn. Unfortunately, this can lead to a lack of active engagement, with board meetings becoming more like high-profile get-togethers. 💡 So, what does it take to be a good board member? Experience, intelligence, and relevance are key. Board members need to understand the company, have access to crucial information, provide early warning signs of problems, and be ready to delve into the details. This is clearly not a "retirement" or "trophy" job. Hiring a board member should be as rigorous as hiring a CEO. After all, putting the wrong person on the board can have devastating consequences. 🔗 If you would like to read more about building an effective board, you can check out the full article here: Out of interest, what qualities do you think make a good board member? https://lnkd.in/ey_d2BiE #CorporateGovernance #BoardMembers #Leadership

Have you ever wondered why boards play such an important role in businesses? Boards play a vital role as the eyes and ears of public and private investors in businesses that are getting increasingly complex. However, despite this, board membership is often seen as a reward for success, offering status, money, and even stocks in a potential unicorn. Unfortunately, this can lead to a lack of active engagement, with board meetings becoming more like high-profile get-togethers. 💡 So, what does it take to be a good board member? Experience, intelligence, and relevance are key. Board members need to understand the company, have access to crucial information, provide early warning signs of problems, and be ready to delve into the details. This is clearly not a "retirement" or "trophy" job. Hiring a board member should be as rigorous as hiring a CEO. After all, putting the wrong person on the board can have devastating consequences. 🔗 If you would like to read more about building an effective board, you can check out the full article here: Out of interest, what qualities do you think make a good board member? https://lnkd.in/ey_d2BiE #CorporateGovernance #BoardMembers #Leadership

Have you ever wondered why boards play such an important role in businesses? Boards play a vital role as the eyes and ears of public and private investors in businesses that are getting increasingly complex. However, despite this, board membership is often seen as a reward for success, offering status, money, and even stocks in a potential unicorn. Unfortunately, this can lead to a lack of active engagement, with board meetings becoming more like high-profile get-togethers. 💡 So, what does it take to be a good board member? Experience, intelligence, and relevance are key. Board members need to understand the company, have access to crucial information, provide early warning signs of problems, and be ready to delve into the details. This is clearly not a "retirement" or "trophy" job. Hiring a board member should be as rigorous as hiring a CEO. After all, putting the wrong person on the board can have devastating consequences. 🔗 If you would like to read more about building an effective board, you can check out the full article here: Out of interest, what qualities do you think make a good board member? https://lnkd.in/gnfghK8Y #CorporateGovernance #BoardMembers #Leadership

Have you ever wondered why boards play such an important role in businesses? Boards play a vital role as the eyes and ears of public and private investors in businesses that are getting increasingly complex. However, despite this, board membership is often seen as a reward for success, offering status, money, and even stocks in a potential unicorn. Unfortunately, this can lead to a lack of active engagement, with board meetings becoming more like high-profile get-togethers. 💡 So, what does it take to be a good board member? Experience, intelligence, and relevance are key. Board members need to understand the company, have access to crucial information, provide early warning signs of problems, and be ready to delve into the details. This is clearly not a "retirement" or "trophy" job. Hiring a board member should be as rigorous as hiring a CEO. After all, putting the wrong person on the board can have devastating consequences. 🔗 If you would like to read more about building an effective board, you can check out the full article here: Out of interest, what qualities do you think make a good board member? https://lnkd.in/gnfghK8Y #CorporateGovernance #BoardMembers #Leadership

Considering a transition to board service? This insightful article outlines essential steps and considerations for CEOs contemplating a pivot to board work, emphasizing the importance of self-assessment, strategic planning, and understanding board roles. https://buff.ly/4fEbVPg #BoardServiceTransition #CEOCareerPivot #BoardRolesAndResponsibilities

Considering a transition to board service? This insightful article outlines essential steps and considerations for CEOs contemplating a pivot to board work, emphasizing the importance of self-assessment, strategic planning, and understanding board roles. https://buff.ly/4fEbVPg #BoardServiceTransition #CEOCareerPivot #BoardRolesAndResponsibilities