Will a Non Executive Director Make My Company More Successful

Will a Non Executive Director Make My Company More Successful

04 Jul 2019


Will a Non-Executive Director Make My Company More Successful?


Whether you're a start-up or an established business that's become stagnant, you may be wondering: should I appoint a non-executive director for my company? While there's no definitive answer, you can explore the benefits and alternatives.


What is a Non-Executive Director?
An NED sits on your company's board of directors but is not part of the executive team. They're involved in planning and policymaking but not in the general management.


Do I Need an NED?
If you're a young, emerging company, you may feel you won't be taken seriously without a non-executive director. You may think an NED will give you instant access to funding or crucial contacts. You may have started out but are now confused as to how to grow. All these reasons may lead you to appoint an NED.


But the truth is banks, investors and contacts are more interested in you - the company's founder. For all the aspects where you think you need an NED, there is a more appropriate person for that position. For instance, you may find a salesperson, business mentor or financial director more fitting. A non-executive director is not a short-cut to success.


What are the Benefits of an NED?
Your chosen NED should be a valuable asset in times of change within your business. The right person for the role will have broad and practical business experience (though not necessarily in your particular sector) and have the ability to think and act objectively. They should ensure your company is well-run by a strong management team while also having the initiative to challenge failing strategies. On a personal level, they should be intellectual and emotionally intelligent.


What are the Alternatives to an NED?
As a qualified business consultant with over two decades of experience, I can help your company grow without the need for a non-executive director. I have wide-ranging skills and experience, covering aspects such as strategic planning, leadership development, the setting of KPIs and sales/marketing. My services are affordable and tailored to your specific needs. Why not contact me to schedule your free telephone consultation?