Experience for a Director
Experience for a Director
(OP)
I have been propositioned to join a civl/structural company by a former boss as a director (1/4). My main jobs to date have been technical senior engineer type roles thus am inexperienced in management roles. The company is a smaller structural/civil company with 25 people on a good day. I have a few (many) concerns, one of which is experience! What is management like at that level? Sure I have been an engineer in charge of a technical crew of about 4-5, but really at the end of the day, all they need is a pat on the head or a bit of direction.
How does this compare to being a director? How much tme would you spend on average being an engineer?
How does this compare to being a director? How much tme would you spend on average being an engineer?
Arguing with an engineer is like wrestling with a pig in mud. After a while you realize that they like it





RE: Experience for a Director
A company I do work for has 3 directors. They make policy decisions at meetings of the three and other decisions re their areas.
One is director of sales and marketing and is a good salesman and astute businessman from a negotiating of contracts point f view.
One is operations director and is very competent at running the plant and decisions re investment in plant.
The third is more a technical boffin and is technical director and is very competent to formulate new products.
Regards
Pat
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RE: Experience for a Director
"Director" is just a title. There is no inherent meaning to it. It could be just a more impressive word for "manager".
Talk with the guy offering you the job.
RE: Experience for a Director
As a director you can be held personally responsible for a variety of things under law. These include but are not limited too, ensuring proper accounts are supplied to companies house, employment laws and health and safety laws are correctly implemented, treating all shareholders equally and the correct payment of tax, VAT, national insurance contributions.
Failure to do this can result in a prison sentence.
I would strongly recommend that anyone considering becoming a director takes proper legal advice before doing so.
RE: Experience for a Director
xnuke
"Live and act within the limit of your knowledge and keep expanding it to the limit of your life." Ayn Rand, Atlas Shrugged.
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RE: Experience for a Director
To date US law does not apply here, although Company Directors here are also responsible to pay due diligence to ensure the corporation complies with various laws and to ensure the company does not continue to trade while insolvent.
You do not need to be an accountant, but you do need to consult an accountant regularly.
OH&S is tougher, but that can apply at any level, not just directors although all directors will become involved if action is taken. Row, I think you are in Qld which is not quite so draconian as NSW re OH&S.
Regards
Pat
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RE: Experience for a Director
I assume they are offering some sort of buy in? If I were you get that side of it looked at by an independent, senior partners usually stiff the junior partners. Roughly speaking a privately held company is worth about its annual turnover.
Cheers
Greg Locock
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RE: Experience for a Director
From working in smaller firms that I've seen (particularly from a consulting view) the directors still had most of their 'engineering' responsibilities, but were also responsible for the financial aspects, as Pat has alluded to.
Points of concern can arise when one particular director (possibly the primary shareholder of the company) insists on making decisions, or ignoring the other director's requirements. The above statement is obviously dependant on company structure however, though I'd seen a few directors in one particular company resign their directorships in quick succession over such an occurence.
RE: Experience for a Director
You must then resign.
Just resigning before things go belly up will not exonerate you unless you have something like the above in addition.
Regards
Pat
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RE: Experience for a Director
RE: Experience for a Director
Generally companies select their leadership in complementary ways. As Pat noted, one might be strong in marketing, one in management, one in general leadership and maybe they are looking at you for the technical grounding and leadership that either they are not interested in or have less capability.
Ask lots of questions, get the financials and make a decision as to whether you think you fit with them. Also, it isn't forever. If you don't like it later, you can probably sell out...be clear with them on that point..that you want it to work, but in the event that it doesn't, what is the exit strategy.
RE: Experience for a Director
I was going for a job once that I thought was too much for me and my wife gave me one of the best pieces of career advice I have recieved. She said that if you already know how to do the job then you should be going for the next position above that - it is called a career for a reason and you should always seek to stretch your capabilities.
Obviously your former boss has more faith in you then you do in yourself.
I say go for it.
RE: Experience for a Director
At the moment I am just looking for the right questions to ask and how to tell if they are being on the level.
I assume the is normally a hierarchy in the directors, thus how is this decided upon, is a chairman normally selected or is it share based?
Arguing with an engineer is like wrestling with a pig in mud. After a while you realize that they like it
RE: Experience for a Director
RE: Experience for a Director
Regards
Pat
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RE: Experience for a Director
RE: Experience for a Director
Regards
Pat
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RE: Experience for a Director
Peter Stockhausen
Senior Design Analyst (Checker)
Infotech Aerospace Services
www.infotechpr.net
RE: Experience for a Director
Again I can only speak about the UK but many directors will take at least some of their "salary" as dividends as this is the most tax efficient way of paying yourself, however this can only be done from profits. So in good times this very much works in your favour but when things are tight it can work against you.
Just another reason why it is so important to be fully aware of the true financial state of the company including assets and any debts.