How do you tune your board to drive growth and international expansion?

Writer: Aija Bärlund

When a company is in a growth phase, it needs a board that can make strategic choices, support management in executing the strategy, identify obstacles to growth, and unlock new opportunities. The right people can play a critical role in areas such as expanding internationally, building partnerships, and securing funding.

A growth-focused board should include members with: 
• Hands-on experience leading a growth company 
• Business expansion expertise, particularly in international markets 
• Financing and investment know-how to ensure a strong foundation for future funding rounds and investments 
• Digitalization and technology expertise, especially if growth relies on new digital services 
• Scaling capabilities, as growth often requires renewing processes and structures 

(Photo: Ismaël Jean, Unsplash)

1. Build the right skills and attitude for growth 

   Take the time to carefully assess what expertise your board needs to drive growth. Before forming a new board, evaluate the company’s current situation and assess your existing board’s competencies against your company’s growth goals. A board assessment can help identify any gaps, develop a plan to strengthen board expertise, and guide the recruitment of new members. 

   
   Make sure the company’s owners and key investors have: 
   • A shared ownership strategy and a common vision for the company’s future 
   • A clear, joint understanding of the growth strategy, concrete goals (KPIs) 
   • The necessary enthusiasm and commitment

   • Clarify: 
     • What is the company’s financial position, and what are the investment plans for the future? 
     • What key partnership agreements does the company have? 
     • Which new markets is the company entering (e.g., geographic regions, technologies, products, or services)? 
     • Are there any potential liabilities or disputes that could hinder growth? 

2. Special considerations for international expansion and financing 

   If your company is targeting international markets, your board should include members who: 
   • Understand the regulatory environment and business culture in the target markets 
   • Have a network of contacts to help find partners, customers, and distribution channels 
   • Have experience in mergers, acquisitions, and business integration 

   For growth companies, securing funding is an ongoing effort. Board members must understand the logic of private equity and financial markets to ensure the company can access the capital it needs while managing risks. 

Is Your Company Hungry for Growth? 

We can support you with board evaluations, formation, and aligning your board for growth. 

Contact,
Aija Bärlund | aija.barlund@chief.fi | +358 40 681 0245