Make Boards Work

We got into something I don't think gets discussed enough, how governance actually works (and often doesn't) in family businesses. The unwritten rules. The baggage. The sibling who was bad at math now running finance.

We also talked about what Stefan has come to believe is the crowning moment of entrepreneurship: knowing when to let go. When you're no longer the best owner.

And a line Stefan emphasizes: sunlight is the best disinfectant. Conflicts of interest handled at the start are rarely a big deal. Handled late, they destroy trust.

If you work with family businesses, sit on boards, or are thinking about bringing in outside capital, I think you'll find this one useful.

We talked about what actually happens inside boardrooms when things go wrong. The ego games. The power imbalances. The moments where trust breaks and nobody recovers.

Henri shared a line he has been saying for years: there are only two ways to have a real voice on a board. As chairperson. Or as the one board member closest to the founder.

Everything else is decoration.

We also got into the prisoner's dilemma that plays out when a company is dying. Why investors send associates instead of partners, and what that really signals. And why IQ is massively overrated in the boardroom.