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Who are the right people to place on company's board? Do every Entrepreneur need to be CEO of their own company if they don't have right skills for that position ?

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4 answers

1) Create knowledge pool at core team with SMEs (Subject Matter Experts) but ensure you all vibe well. Ideally if you are financing your business then you need to be even more careful.

2) No you need not be the CEO, in fact lot of successful business were started by people who brought in the right people at core team. You should possess good business acumen.

3) Hiring a consultant helps.

Feel free to write if you have more questions.

Report Mona's answer

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thank you for answering my question. Definitely I will ask more questions.

Report Dipak's answer

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Dipak, I agree with Mona's answers in general. You obviously will need people on your board who understand your business and feel comfortable (and knowledgeable) speaking about it in the community. You then would like a diversity of members who can appeal to other aspects of the business, such as: financial knowledge will be extremely helpful (accountants, CPA's, etc.), and members who are versed in marketing and/or sales, as you will want expertise on marketing your company's product and services. Other small business owners who have created their own businesses will provide much helpful guidance and information.

You do not need to be the CEO, but you will need to hire someone who can be trusted to carry out the vision that you are starting with and who will be respected in the total community to represent your company's best interests.

Contact me if you want to continue our discussion.

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