Q. I run a relatively small business - is a Non-Exec relevant?
A. If you could benefit from a confidential sounding board or advice from an experienced business person or fresh ideas or good contacts then the answer is yes, at NXD we work with businesses with turnovers of tens of thousands up to those with turnovers of tens of millions. In many respects a smaller business needs a non-exec far more than a larger one, the key is to find the right one who will genuinely add value to your business.
Q. Do I need to formally appoint a Non-Exec?
A. No, not unless you are a publicly listed business, and in many respects it’s easier to start off with what we describe as a non-executive advisor at least until you have both got to know and trust each other.
Q: What makes NXD different to all the other organisations offering similar services?
A. Firstly, we don’t charge any fees to our customers for finding the right non-exec for your business; secondly we are an exclusive membership organisation of business leaders all now committed to bringing the benefits of non-exec to smaller companies; and thirdly, our motivation for getting involved with a business is first and foremost to add genuine, tangible value to the business – if we can’t, we walk away.
Q: What’s the process for appointing a non-exec?
A. Firstly we try to understand enough about you and your business and your objectives to work out if we can help; on the assumption that we believe we can help, secondly we will send you a few CVs of people who can help in different ways – from this we will agree with you a shortlist of people with whom to speak/meet; finally, it will be your choice if you take anyone on.
Q: How much is it going to cost me?
A. Finding the right non-exec for your business is a free service, you only have to pay anything if you take someone on and then you pay that person directly. The rate you pay the person is negotiable and to a large extent dependent on the amount of time involved, we make ourselves affordable to even the smallest of businesses by not spending more time than we need to add real value.