One of the undeniable foundations of long term success is running your business well.
Getting your first customer is meaningful. Being ready to serve every customer after the first is the start of a business.
For this reason, governance is important, whether a new or established business. Good governance is an investment in yourself. Having a talented board of directors, making sure that you are complying with licensing, regulatory, and legal requirements, keeping an eye on all aspects of your business – things like these are critical, even if they don’t seem exciting.
Jeffrey Gitchel knows that governance might not always be your highest priority, but he also knows it’s always important and needs to be a priority.
Good governance leads to better business outcomes and is crucial for long-term sustainable success. For example, a board of directors can act as a sounding board, providing different perspectives, offering insight, and opening new strategic visions. It is so basic that it barely needs to be said – diversity of thought leads to better decisions and better outcomes. An effective board provides an independent perspective that takes all stakeholders into account.
Governance is legally required for some companies. Jeff can help you meet those requirements. He can help you optimize the effectiveness of your governance. And he can help you balance good governance with the other requirements of your business.
An important consequence of corporate governance is long-term value creation. Businesses that adopt a corporate governance focus early in a company’s life cycle tend to encounter fewer growing pains as they grow into a larger entity. Even for companies that do not aspire to be in the Fortune 500 realm, the same fundamentals apply, regardless of size.
Mr. Gitchel identified a simple, but important, thing that businesses can do every day [to be prepared for litigation]—maintain a professional tone in every communication.”
One of the central questions of modern business is whether the corporation is accountable primarily to its shareholders and dedicated solely to their success or whether it also has obligations to other stakeholders, such as employees, customers, suppliers, or even society at large