THE USUAL APPROACH
The initiative to start and/or operate a privately held organization, whether in a for-profit or non-profit environment, takes certain skills and initiative in order to become successful. It requires a sense of purpose and a large degree of self confidence. It requires bringing together a team that can address all the factors and components of the organization that will lead to the successful accomplishment of the objectives and mission. A ‘tall order’.
Bringing the right team together includes internal staff, external resources, tools and experience to meet hurdles while minimizing the risks that will undermine or limit the organization’s success. Many leadership executives have great skills, confidence and even broad resources to drive the organization, but they often lack the ability to see what others see, or are willing to discuss.
It is essential that the organization President, CEO or Executive Director have access to folks that can supplement their knowledge. These people need to be willing to hold the executives to their objectives and advise them on options and alternatives. Organization staff, often don’t have the perspective of the top person, or have too much at risk to share an alternate perspective. Even key vendors may not advise you about critical matters, unless it affects their services. This puts executives in a very precarious position, and they may not even know it. They operate as the ‘Lone Ranger’.
LEADERSHIP SYNERGISM - AN ALTERNATIVE APPROACH
If you can gain from other’s experience, avoid pitfalls, become more successful with little downside, why not do it? It seems like such a ‘no brainer’. Yet many organizations and senior executives follow this ‘lone ranger’ operating style. They miss a resource, readily available, which all public companies by requirement have - a board of directors. It keeps the organization on track, makes sure the goals are achieved and looks out for the welfare of the owners.
This same system can be made available to the private owner or the single executive. It is an organization’s Advisory Board. They can share knowledge, act as a sounding board, bring their experience to the table and assure that someone is willing to challenge the president when it is appropriate. They can also become an advocate for the organization and bring their networks to bear on issues of importance. The ‘Lone Ranger’ becomes the ‘Texas Rangers’ and with very limited investment or downside.
THE PROCESS
A typical board of directors is often constructed around political, financial or family matters; it may on occasion include some members because of background or skill. In the P3 Advisory Board process we start with the needs of the organization, and an analysis of the senior leadership to see what is needed. It involves a review of the Strategic Plan if available and an operating guideline is developed. Then the candidates are sourced and presented for consideration. Once approved, the established team is assembled, a training program is conducted, the tools of operation are put in place and the work begins. The organization is now positioned for success with a team that has all the horsepower required.