Making Your Board a Strategic Asset

I have just finished the autobiography of Theo Paphitis, entrepreneur, turnaround specialist and a regular on the BBC hit series Dragon’s Den. The book appropriately entitled Enter the Dragon (Orion Books) is a nice easy read full of nuggets for businesses.

I specially direct the reader to his 12 rules of business:

  1. Reduce the risk; don’t take unnecessary risks
  2. Don’t fool yourself; be realistic and not fanciful about your ideas
  3. Learn to let go; sell the business at the right time
  4. Cash is king
  5. Embrace change
  6. Use common sense
  7. Make decisions; don’t procrastinate
  8. Weigh up the opposition and yourself
  9. Start small
  10. Get your staff on board
  11. Capitalise on other people’s ideas; learn from others (legally!)
  12. Turn your dreams into reality