managementMy company is running successfully for the past 3 years including the financial pushes for the first two years.
Now the company is on the growing pace. But now what kicks me is, my board of director teams (co-founders) are my very close friends, and they too hold the power. So it sounds difficult to host some tasks/change over to the company for the uplifting and some by-laws created are not been obeyed well. Some sort of laziness in any of the team member will also affect the upliftment.
I really find it very difficult to cope up this after running up shooting down many difficult business issues.
Hope some experienced champs could help me with some cool stuff.
Have a meeting with everyone. Explain the difficulties that you believe the business now faces in the sense that you are all friends, and how difficult this can be considering all of you are now directors. Explain that this situation poses a serious threat to the potential and effectiveness of the management team. You need to get them to come to the realization that they cannot act in a “buddy buddy” way with each other during business hours. Chances are, they will agree with you and commit to creating a culture of productivity, professionalism and excellence.
You also need to make it clear that laziness and low output will not be tolerated. Consider implementing performance measures for each director. They are there for a reason - they must have shown some level of competence for you to choose them so discuss this with them and explain that you expect a certain level of performance from each one. Be stern and professional.
With decision of Board of Directors, make your entry to Sharemarket. Then try to gain maximum shares as possible. By holding more than 50% shares, you can get rid of anyone and everyone.
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