Boards of directors can help businesses succeed--yet many family businesses do not have functioning boards of directors that play a valuable role in providing oversight to their businesses. Here, the authors show why private firms need the in-depth expertise and objective feedback that a well-chosen board, including qualified independent directors, can provide, and demonstrates how owners and directors can work together to ensure a long and profitable life for the firm. The book provides best practices for 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, family members, and other stakeholders in the firm.--From publisher description.