Looking for tips on selecting the best corporate officers, specifically VP, Treasurer and Secretary. Do you recommend hiring people/friends who you trust? Or are there unique qualifications that are crucial for these positions? Thank you in advance for any insight.
Corporate officers are an integral part of your management team. Each has particular tasks and the tasks require particular skills. The Treasurer, for example, does more than keep the books and pays the bills. The Treasurer also develops relationships with lenders, investors and manages the trade credit that the company uses and gives out.
Trust is critically important - especially for a new organization. The Corporate Secretary is more just a title than a requirement for secretarial (e.g. typing, shorthand) skills. The Treasurer should at least understand Profit & Loss, but being a CPA or bookkeeper isn't necessary.
Your board should be your closest allies - as well as people who are honest and strong enough to give you honest feedback - and tell you when you are making errors.