Managing a Small Business Substantial excerpts from a for-a-price product make this site an attractive resource. Articles and "food for thought" pieces are on a range of topics and include guidelines for a feasibility study, treatises on leadership, marketing, profit planning, and ways to cut expenses. Additional subjects with worth-while reading cover decision-making, goal-setting, managing people, and managing self. Website: www.liraz.com/   Management - Frequently Asked Questions Am I required to have a Board of Directors? Should I have an Advisory Board if a Board of Directors is not required? Who should be on my board of directors?   Q: Am I required to have a Board of Directors? A: A board of directors is required if the business will be a non-profit organization or a corporation.    Q: Should I have an Advisory Board if a Board of Directors is not required? A: Yes, an advisory board should be selected if a board of directors is not required.   Q: Who should be on my board of directors? A: A board of directors should be comprised of people who are interested in the development of the business as well as community minded. These people should have major concerns for people in the community and their needs. The board of directors shall constitute the selected governing body of the corporation. The initial board shall be appointed and thereafter elected as shall be from time to time by other members of the board. All operational and managerial authority regarding the corporation shall reside with the board of directors. The board of directors should include a president/CEO, vice president, secretary and treasurer.