RT Journal Article SR Electronic T1 Why Hire Outside Directors When Private Companies Don’t Have To? Change! Break the Status Quo. Rejuvenate JF The Journal of Private Equity FD Institutional Investor Journals SP 36 OP 41 DO 10.3905/jpe.2018.22.1.036 VO 22 IS 1 A1 John M. Collard YR 2018 UL https://pm-research.com/content/22/1/36.abstract AB You need these fellows to increase cash flow and provide valuable guidance, contacts, growth, and credibility. Companies committed to going through significant business change need advice. Outside directors bring an independent perspective, develop strategic thinking and planning, utilize their experience and objectivity, provide their contacts Rolodex, find capital to finance the company, and guide transaction activity. After all, you have nothing to lose, and everything to gain by considering their advice when you make decisions that will influence your company. Remember, the key is for the CEO and management team to listen to the information given and factor these inputs into their thinking, then make decisions.TOPICS: Private equity, manager selection, analysis of individual factors/risk premia, performance measurement