|19: SIMPATICO Enlist compatriots.|
If you’re running a public company be prepared to spend more time battling your board (and the regulators) than your competition. If you’re running a private company, beware of blue chip directors with perfect resumes and backgrounds they will do anything not to tarnish their image. Always reach for trusted and tested confidants when making director choices. Never appoint a board member for reasons of perception or the assumption that he will attract investors or customers. Appoint board members who have competencies you don’t. Never appoint a stranger. Always get their undated and signed resignation in advance. If possible, use a board of advisors instead of a board of directors. Make sure they are getting a good flow of information from sources other than you…and make sure they are telling you things you don’t want to hear as well as things you do…but at no time do you place your destiny in their hands.