SME Non-Executive Directorship (NED)
In today’s fast-paced, dynamic and ever-changing business climate, executives and directors need to not only keep up with the pace of the market, but also remain proactive in developing their own abilities as well as those of their team.
Every business can therefore benefit from having an experienced set of business advisors that can frequently visit and provide consultations or coach directors and the team on business and leadership development, or provide training in various aspects of business and people growth. A company may also benefit from having an objective and impartial executive sit on its board of directors to help steer the organisation. It is perhaps rare however, to find and appoint a trusted advisor that has the experience and proven record of fulfilling all these roles.
Through a unique combination of all the above as required, we work with executives and management teams to help them overcome challenges and accelerate performance. Identify and capitalise on opportunities for change, improvement and growth; exploiting the company’s strengths in order to achieve significant results focused on profitability and shareholder equity.
Unlike most NED appointments, which are generally working exclusively with Boards Of Directors in corporate companies, and SME Non-Exec appointment works on every aspect of the business as a partner and sounding board to question decisions, provide strategic insights, enhance the culture, and Systemise the Business.Looking For Staff and Team Development Workshops?
The Top Can Be A Lonely Place Sometimes, Even In A Winning Team...
Torger Christian "Toto" Wolff, CEO Mercedes AMG Petronas Motorsport Formula 1 Team, talking about Niki Lauda, (1949-2019) Non-Executive Director:
"He was a guiding light for the team, and a personal confidant for myself."
"I had ran my businesses for many years and genuinely didn’t believe anyone could teach me anything about running a business. If I’m honest, it was the Guarantee to find the annual fee within the first 17 weeks, I thought it was a ‘no lose’ situation; it turned out to be a massive win situation, a real eye-opener. I took myself out of running other people’s divisions and departments for them and became the Group Managing Director. I stopped asking myself why they won’t step up and started empowering for the first time to step up and put systems in place. I can’t thank Novo enough."
The role is to offer constructive criticism, ask important questions, challenge the norm, and maintain focus to contribute to leadership & business outcomes, such as:
- Develop and build strong leadership skills and attributes, so that as a director, I can not only manage, but truly lead myself, my people and my organisation
- Massively Increase company profitability with a focus on improving Margins, Working Capital and Shareholder Equity
- Develop a clear and powerful set of both personal and business goals and having a vision for my company or organisation
- Create a culture that will define how we act and interact with customers and with each other, and attract the right people to my organisation
- Help me to drive positive change at all levels in my organisation, turn my managers into leaders, and prepare others from within for future leadership
- Get my team motivated and contributing as individuals for the betterment of the company and all stakeholders
- Using a recruiting system that is both efficient and effective to help me add the right, motivated, great people to my team.
- Train my team so they deliver superior levels of customer service to internal or external customers, creating raving fans and repeat buyers time after time
- Get better use of our time and stop working reactively, putting out fires, and become more pro-active about building the company
- A step-by-step marketing plan that significantly increases my new customers and profits without taking all energy away from daily activities
- Having a strategy that will compel my former and even inactive customers to come back and buy from me again and again
- Getting a solid business plan of action so I and my team are focused on doing what matters, what's important and what will get the biggest results
- Get myself the freedom of more time away from the business, still knowing it is growing and creating more, and more, profits without me there
- Take the business to the next level, improving my business and people skills to put the platform in place for growth
- Have a system for controlling, managing and reporting the company finances so I know I am building profits through Key Performance Indicators
- Working 'ON' my business rather than 'IN' it and create a systems dependent company or organisation rather than a people dependant one
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Non Executive Directorship Overview
The retained NED position carries no entitlement to vote on the Board and fulfils a time commitment to the equivalent of at least 1 day per month, or as the business requires. It follows NOVO Leadership’s Proven and Proprietary SME Development System, which includes the Performance Vortex, and can be adapted to suit any size of company and has been employed in many businesses, service and product based alike, derived from his years of experience. You will also leverage all the benefits and systems within Business Academy Online Blending Learning Programs.
The NED position is often considered a more cost effective and better option to coaching as the Non Executive is tied to the business growth and performance with an agreement to receive performance bonus or deferred share issue when targets or outcomes are realised.
"Appointing a Non-Executive Director has allowed us to restructure the company, identify areas of weakness, and improvements required to take a 200 year old company into the future with respect of our current economy and building industry. Novo's help and directorship has been invaluable."
While there may be variation depending on the business needs, the SME NED appointment serves to contribute to following responsibilities:
- To act in accordance with the Board of Directors’ Code of Conduct and the Company Values at all times.
- To help create and administer a business succession / exit strategy or wealth creation plan for the shareholders, which may include execution of an acquisition plan, and incorporation of a Holdings model.
- To act as an unbiased, objective and impartial member of the Board, questioning decisions to ensure clarity of desired outcomes are in the best long-term interests of its shareholder and stakeholders.
- To contribute to the process of establishing the values and vision of the company and help build strong culture norms. raising the Emotional Intelligence of the entire organisation.
- To question and provide clarity on strategic direction and impartially hold people accountable to ensure cultural, operational, commercial & systems alignment.
- To attend other ad hoc meetings or sit on Board Sub-Committees as required.
- To strengthen connections with the local community, with stakeholders, with investors, and to represent the company externally where required.
- To participate in the development of the organisation’s growth, ensuring this is implemented via effective policies and plans, whilst ensuring effective risk management and control processes are in place.
- Hold to account the performance of management in meeting to agreed goals and performance objectives.
- To steer Human Resources and Health, Safety & Environmental activities and compliance.
- To steer and consult in Financial Management including Capital Expenditure & Budget controls.
- To steer and participate where required in the hiring processes, appraisal and remunerations systems.
- To provide support on a wide view of business development and marketing activities, including opportunities for revenue and profit growth, strategic planning and supply chain improvements.
- To facilitate investor relations for development funding.
"Appointing a Novo NED brought to the company a wealth of experience in HR, Financials, Marketing, People and Business development that allows the directors to focus on growth strategies that we can implement with his guidance and support. The benefits to the company are immeasurable, and for myself I have a valuable sounding board that is always available to me.”
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