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You also create a contract that the not the reason for anything that's going on in the company, additionally take no responsibility for that company's debt either now or in the future. You only use your director position to confirm that some anal retentive cost conscious bean counter doesn't undermine your lead generation initiatives by cutting restrictions. Let me know one does need help in the therapy lamp.
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But if you're passionate about what the company does, prefer it, but demand a non-executive director position for a board. Again, accept no responsibility against losses, but make sure your voice is heard and you are involved to some degree in running the prove to.
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