In this episode of the Deal Junkie podcast with Kevin Fechtmeyer, Board Institute Founder Susan Shultz discusses the correlation between a good board of directors and securing private equity in mind; ultimately building a team of experts with employees from outside of your organization.
This expert episode is spilt into four parts:
Why is a board so important?
How do you recruit and find directors?
How a good board of directors can help attain private equity.
Hall of fame: boards of directors that have done well and those that have failed and what we can learn.
“We tend to recruit those we know and who we feel comfortable around,” said Susan on the podcast. “The real way to gain a strategic advantage is to focus on people who are carefully and precisely recruited for your future needs, and who are indeed independent.”
Susan discusses her innovative methodology of ‘board matrixing’ which involves an intense evaluation of the current strengths of the board and its directors to identify gaps. It then involves a focused recruiting process keeping the future goals of the organization in mind.
Listen to the full episode here.