The most complete handbook on boards for small to midsize private and family businesses, this bbook shows how to build a dynamic board of directors that can enhance the owner's ability to run the business. John L. Ward shows why private firms, facing increasing competitive challenges, need the in-depth expertise and objective feedback that a well-chosen board can provide, and demonstrates how owners and directors can work together to ensure a long and profitable life for the firm. Ward provides owners and directors with step-by-step guidelines for developing and managing a board- from writing the initial prospectus, through conducting lively meetings, to maintaining open, honest communication between owners, directors, spouses and family members, and other stakeholders in the firm. He shows how to-- * Find and attract the right directors- experienced business people * who can contribute the exact knowledge and expertise the company * needs to thrive and grow; * Compensate directors appropriately and protect them from legal liability; * Foster creative thinking about promising new directions for the * company, such as new products, services, or markets; and * Draw upon board expertise to improve the qualit and creativity of decision making about a wide range of issues, such as how to find sources of capital, develop the next generation of leadership, or recruit new talent. Ward illustrates this practical guide with extensive case examples from a wide of small to midsize businesses, including food service, printing, and chemical companies. He also offers sample board prospectuses, company mission statements, effective meeting agendas, and other essential tools for bringing the board together and encouraging its active participation in the business.