Resources for Private Boards
Effective private company boards establish the structures and processes that help owners make decisions, govern wisely, and sustain value through leadership transitions. An effective board, one that meets regularly and gets the work done, provides many private companies with something they lack: a forum for accountability, fresh perspectives, and strategic guidance that moves beyond rubber-stamping to genuine deliberation.
At CFAR, we serve as connectors who help strengthen boards. Whether you’re creating a board for the first time, evaluating your recruitment strategy, or transforming a once-a-year board into one that functions effectively, we work with you through every stage. We can help you set up your board and facilitate your first few meetings, positioning it for future success as a board that truly serves your company. We combine our governance expertise with your deep knowledge of your business to co-create structures and practices that fit your company’s unique culture and needs.
Articles & Writings
The Six Ps of Good Governance for Private Companies
What separates a high-functioning board from one that merely goes through the motions? At CFAR, we believe the answer lies in six foundational principles — Purpose, People, Practice, Procedures, Policies, and Processes. While each element has value on its own, it’s the interplay among all six that transforms good intentions into great governance. In this piece, we break down the Six Ps of Good Governance and show how private company boards can build the kind of living, breathing structure where, as we like to say, “the words match the music.
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By Nancy Drozdow and Caleb White.
Why Does Governance Matter in Family Businesses?
When a third-generation family business asks “who decides?”, the answer is rarely simple. As family, ownership, and business roles overlap and evolve, even committed, capable families can find themselves paralyzed by confusion and tension. The solution isn’t more talent or better intentions — it’s governance. Clear structures that define who decides what, where conversations belong, and how voices are heard can transform family conflict into lasting legacy. Because when roles are clear, families don’t just run better businesses — they build stronger relationships.
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By Eliza Orleans and Lauren Howard
Practical Advice for Linking Your Family Council to Your Board
A family council gives shareholders a collective voice in the business, but connecting that voice to an existing board takes care. Families worry about disrupting a well-functioning board, while directors may be wary of engaging with the council at all. This blog offers practical steps for building a healthy, productive relationship between the two: creating an annual “owner’s plan” that gives the board a clear view of shareholder values and goals, making the council the main channel for board-to-shareholder communication, naming a board liaison to the council, agreeing on what information is appropriate to share, and keeping family conversations out of the boardroom so directors can stay focused on the business.
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By Todd Smith
Voices at the Table: Is Silence Undermining Your Board Diversity Efforts?
Many boards are working hard to bring in directors with different backgrounds and perspectives, but recruitment is only half the story. This blog asks whether long-standing governance norms, many built around unity and speaking with one voice, may be quietly discouraging the very viewpoints boards set out to add. Through the example of a university board whose unanimous vote, lined up in private conversations beforehand, later sparked public backlash, it shows how moving real debate out of the boardroom can silence members and weaken decisions. The authors offer three practices for fostering fuller participation: revisiting the ground rules that shape board conduct, creating the conditions for healthy conflict, and piloting new ways to draw every member into the conversation.
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By Erin Konkle and Daphnie Pierre
Video
As part of the Private Company Governance Summit, CFAR Founder and Principal Nancy Drozdow sat with Family Business Magazine‘s Publishing Director David Shaw to share some key governance principles—what CFAR calls the “six Ps of good private company governance.” Watch her interview in the clip below.
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