Weak board, strong board
December 01, 2018
The Board's job is to make sure the right team is at the helm, not to be at the helm themselves...A great Board manages itself and treats the CEO as a peer and gives the CEO's opinion great weight. But a great Board is not a rubber stamp.
—The Board Of Directors: Role and Responsibilities, AVC (Fred Wilson)
Last April, a dilemma hit our board: after 12 years of service, our general manager said he was quitting. He tendered his resignation and said he'd serve out a two month notice period.
I didn't realize it at the time, but looking back, I'm fairly certain he was angling for a raise; he thought he'd get us over the barrel, and dictate his terms.
He gambled and lost; we went out and found a new manager. Not pleasant, but as Stringer Bell reminds us, "you gotta be fierce".
There are eight people on this board and I'm proud we handled it how we did; past boards took the easy way out, letting too much stuff like this slide. You can get away with that once in a while, but do it too often, and you'll have the employees running the shop, ignoring the customers and stealing from the owners.