What Value Does a Board Bring My Business?

Panelists:

Katie Inouye
- Founder | Vice President,
Spark TS

Cora Leibig - Founder | CEO, Chromatic 3D Materials

Ben Olk - President, NCOO Foodservice Solutions | Member of Private Directors Association of Minnesota 

We'll hear from CEOs as they discuss topics that include:

• The advantages of utilizing a board of directors in various stages of a company's lifecycle and according to its formation: family owned, private equity funded, startup, established

• The role of the board in guiding the company through crises or difficult times

• How the board balances oversight with the autonomy of the executive team

• A board's involvement and contributions to a company's long-term strategy and vision

• Ways a board can help a company innovate or pivot when necessary  

• How a board can help companies build stronger relationships with investors, customers, and other key stakeholders

• And more ...

• Your questions!

What's the "why" for creating a board for your business?

There can be many reasons, both expected and unexpected, such as when a company:

• Experiences Significant Growth – As your company scales, decision-making becomes more complex. A board can help guide expansion, structure operations, and maintain focus on long-term goals.
  

• Becomes More Operationally Complex – With growth comes challenges in finance, human resources, legal compliance, and supply chain management.
  

• Needs External Expertise & Guidance – Bringing in experienced professionals adds knowledge in key areas like market expansion, risk management, and regulatory compliance --- as well as considering family/generational continuity and mediating internal conflicts among company leadership.
  

• Seeks Investor Funding – Investors often prefer businesses with a structured board, as it enhances accountability and strategic decision-making, increasing their confidence in your company’s future.
  

• Requires Greater Accountability – A board ensures leadership remains accountable for financial health, ethical business practices, and sustainable growth, reinforcing good governance.

Private equity-backed companies face more rigorous oversight aligned with investor expectations.

• Strategic Growth & Value Creation - Private equity firms focus on scaling operations, increasing profitability, and optimizing efficiency. A board provides the expertise needed to execute this strategy effectively.

• Operational & Financial Discipline - There is often a push for performance improvements and cost efficiencies. A board helps enforce financial discipline, monitor key metrics, talent alignment, and drive operational excellence.

• Exit Strategy & Liquidity Planning - Whether through an IPO, sale, or merger, private equity firms have a defined exit plan. A board helps shape and execute a roadmap to maximize valuation and ensure a successful transition.

• Risk Management & Compliance - Private equity-backed companies face rigorous compliance, regulatory, and reporting requirements. A board helps mitigate risks and ensures adherence to industry standards and legal obligations.

With special thanks to our sponsors:

Irish Titan

Breakthrough Impact Group

Highland Bank