When choosing new board members for your small company or non-profit, the best board candidates are those who have a passion for the organization’s mission and are willing to invest their time. The selection process must be thorough. Don’t pick someone just because they’re a close friend or family member. You should investigate their background, get references and do a conflict of interest review to be sure that you’re choosing the right people to help your business expand and grow.

Board members must have experience in their field and capable of leveraging their knowledge of the industry to help the board make informed decisions. They should be able think ahead and challenge the status that is in place. Boards need to be balanced and balance – you don’t want a board with too many visionaries but not enough executioners.

Ideally, the new board member should have previous experience on other boards, but it’s not always the case. If a person doesn’t have previous experience on boards, it is important to consider the number of boards they are on and what their role. A lot of boards can result in burnout or a lack of focus.

Some leaders make the error of surrounding themselves with “yes-people”. They select only those who are in agreement with their decisions Bonuses and never ever. This is a risk to the capital of investors, the employees’ lives and the future of their companies. It is crucial to promote lively discussions and to bring in fresh perspectives to boost your company’s chances of success.