To continue reading this article you must be a paid subscriber.
Subscribe to MDMAlready Subscribed? Click here to log-in | Forgot your password?
Many privately held distributors have advisory boards, but they are comprised entirely of insiders. Or the board is convened merely as a formality or legality. But a so-called real board" could help in formulating and enforcing company strategy, as well as provide a venue to ensure your wishes are carried out after you retire or in the case of a disabling injury or death.
Julia Klein, president and CEO of building materials distributor CH Briggs Co., Reading, PA, created an advisory board for her third-generation business about 18 months ago.
"I can tell you, it's one of the best things I've ever done," she says. "We had what many family businesses had -a perfunctory family board where we would pretend to meet over dinner, once a year, and have our lawyer write ...
Already Subscribed? Click here to log-in | Forgot your password?
Read the latest articles and see your reports.
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
Wholesale distribution news and trends delivered right to your inbox.
Sign-up for our free newsletter and get:
Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.
By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.