As businesses grow, leadership becomes more complex. In this episode, we discuss a role that many SMEs overlook: the chairman. While the title is often associated with large PLCs and corporate governance, we explore why an effective chairman can add significant value to owner-managed and growing businesses. More importantly, we examine when a business might benefit from one and when it probably doesn’t.We discuss the difference between running a business and governing it, and why those responsibilities are not always best carried out by the same person. Drawing on our experience of thousands of board meetings, we explore how a chairman can help challenge assumptions, improve decision-making, maintain strategic focus, and create the space for honest conversations that are often difficult to have within a leadership team. For many business owners, the role is less about control and more about perspective, accountability and helping the business avoid getting trapped in day-to-day operational thinking.Chapters00:00:00 - What Is a Chairman and Why Does It Matter?00:04:53 - Introducing the Role of the Chairman00:08:35 - When Should a Business Consider a Chairman?00:10:03 - What a Chairman Actually Does00:16:00 - Why SMEs Often Struggle Without Independent Challenge00:18:56 - Better Board Meetings and Better Decisions00:21:00 - Does Every SME Need a Chairman?00:24:14 - Separating the CEO and Chairman Roles00:28:39 - Common Mistakes When Appointing a Chairman00:33:17 - Final Thoughts for Business Owners and DirectorsKey Topics DiscussedWhat a chairman actually does (and what they don't do)The difference between a chairman, CEO, managing director and non-executive directorWhy chairing a board meeting is not the same as running the businessHow a chairman helps keep strategy, risk and governance on the agendaThe value of an independent voice in leadership discussionsWhy many SMEs struggle to separate operational management from strategic leadershipThe risks of CEOs marking their own homeworkWhen growing businesses should consider introducing a chairmanHow private equity-backed businesses often use chairmen differentlyCommon mistakes when appointing a chairmanThe importance of challenge, accountability and constructive debate in boardroomsWhy businesses get stuck in operational "washing machine cycles"The role of mentorship, external perspective and board effectiveness in growthQuotes to Remember"It's hard enough in SMEs for directors to separate themselves from the day job.""You really want the MD freed up from that process so they can be a full-on participant in the meeting.""Businesses get stuck in that sort of washing machine cycle."Practical TakeawaysAssess whether your current board structure provides sufficient challenge and accountability.Consider who is responsible for maintaining strategic focus during board discussions.Review whether operational issues are dominating conversations that should be focused on growth, risk and direction.Seek external perspectives, even informally, through mentors, advisors or non-executive support.Create dedicated time to work on the business, not just in it.Separate leadership responsibilities wherever possible to avoid decision-making blind spots.If appointing a chairman, prioritise independence, objectivity and good judgement over familiarity.Ensure board meetings encourage healthy debate rather than simply validating existing decisions.Think about governance before you need it, particularly if you're planning growth, succession or investment.Regularly evaluate not just business performance, but the effectiveness of the leadership team itself.🎧 Listen on YouTube & Apple Music here: https://anchor.fm/wellmeadow🤳 Like & Follow/Subscribe for weekly episodes on growth, marketing, and making smart business decisions.Got feedback or questions? Drop a comment below – we read them all! 👇

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