When a corporation grows stagnant and lacks growth and the financial reserves are drying up the company’s C level executives need to give the three thousand foot analysis & look at all angles of the Corporate entity as objectively as possible to find leaks & chinks. First let’s look at the obvious & controllable, the board of directors & Advisory board, if you don’t have both then that could be part of your problem. The difference between the two is the board of directors is the most elite of the two. The board of directors are C level pedigree with an extensive track record of success & are typically compensated in restricted stock & some type of annual option and the Advisory board is typically used for the occasional introduction, advice etc & is typically brought on for far less compensation without options.
The advisory board members are usually building their resume and hope to eventually make it to the board of directors. Both BOD and BOA must have extensive contacts and contribute those contacts in a way that is conducive to expedient materialization of strategic alliances, conversion of securities into cash, distribution sources & globalization / expansion strategies. A BOD typically meets around 5 times for every year but is on call anytime you need them & the BOA may meet one time per year and should be eager to get a call from you so they can earn their keep. Use your BOD and BOA as much as possible to grow the company, if they are not living up to their contractual obligation, dump them and recruit a member that will give you the attention you deserve. Next, brainstorm with company executives. Sit in a room & mind map every possible solution to increasing distribution, publicity, branding, and alliance expansion. Take not of the executives who are not participating nor have little to contribute as these are the people you want to replace as soon as possible.
By the end of the meeting have a list of names, number & companies that you will be reaching out to as a group to solidify relationships that will result in a win/win for both sides. This should actually be done once per week even if your company is experiencing the required growth. There are multiple other processes that should be built into your business model to grow but to get to the point the next & final issue that we’ll cover in this article will be publicity. You should have a clear channel of targeted recipients for your press release distribution & a press release should be authored and distributed for anything and everything that your company does that would be considered noteworthy such as a new: client, employee, contract, alliance, location, affiliate, product, service, etc. You should also offer your opinion & expertise to local radio & television news affiliates. There is no better way to gain the status of an upper echelon existence than to be a panel expert on talk radio or TV interview. Do you want a legitimate, quick and easy way of taking your start-up or small business public? Do you want to talk to a consultant that will help you decide which path is best for your company? Call Caston Corporate Advisory today at 981-029-5333 or visit our website at there are many ways to take your company public in an affordable manner that will achieve your goals & begin raising capital quickly.