Should a first-time buyer assemble an experienced board of directors before the first acquisition—especially with a plan to buy multiple companies—and would it improve decision-making, capital access, and bank credibility? My thinking is that a strong board could provide strategic guidance, help maintain discipline around valuation and due diligence, expand access to industry relationships, and strengthen operational decision-making after closing. For those who have taken this approach, did establishing a Board before the first acquisition create meaningful value? Did it improve credibility with sellers, equity investors, and banks? I would also appreciate perspectives on the potential disadvantages, including reduced control, equity dilution, slower decision-making, governance complexity, and conflicting viewpoints. Would you recommend forming a Board before the first deal, or waiting until after the acquisition or after outside capital is raised? Any thoughts/experiences are appreciated.