INDUSTRY INSIGHTS YOUR PEERS ARE READING
I’ve been sued as a board member too many times over the past twenty-five years of board service. Entrepreneurs blaming their board for failures of a fragile, early stage company. As a result, I now insist upon D&O insurance for every board upon which I sit. Close. MORE
It has always surprised me that founders were so quick to fight over how many board members there were and so quick to agree to have as many board observers as people wanted. I have always been vehemently against board observers and wrote some of the reasons in this previous post. MORE
I’ve written a few posts about boards recently as part of a series on the subject. I admit that I haven’t yet read it but I’ve had numerous discussions with Brad over the years about board structure & conduct and consider him a mentor on the topic. MORE
I recently wrote an article on how to respond to board members between meetings. It seems to me this is the main problem with boards. So when I read my post it sounded to me more like a new philosophy for “The Agile Board,&# so I put that as my subtitle. MORE
One of the things that founders have the most angst about is whom they should have on their board and at what stage of the business. Bad board members can make business very unpleasant. Do you need a board when you first start you company? Who Should be on Your Startup Board? MORE
Some of you have gotten along forever without a board of directors, or used your spouse as the “other” board member from the start. But there are some very good reasons to build a great board composed of some outside members. Today, we cover an ideal board’s collective mindset. MORE
And because you need their money, the temptation is to listen a bit too well, and take all of the advice thrown at you during your presentations and during due diligence and finally from the vantage point of a board seat. Some board members may show dismay. MORE
There’s a lot of mystique about what happens at board meetings and a lot of imagined board-room drama. In some ways being a board member is like how I’ve heard people describe learning to become a pilot: Many hours of boredom followed by some brief moments of absolute panic and fear. MORE
Over the past few years, there has been much talk about the importance of investing both financial and human capital into the rapidly expanding entrepreneurial ecosystem. From our perspective, human capital is as important as financial capital in driving the long term success of startup companies. MORE
Startups that are backed by professional financial investors almost always have a Board of Directors that consists of some set of founders, investors and sometimes independent directors. What exactly is the purpose of a Board of Directors and how do boards best function? MORE
And because you need their money, the temptation is to listen a bit too well, and take all of the advice thrown at you during your presentations and during due diligence and finally from the vantage point of a board seat. Some board members may show dismay. MORE
A company’s board of directors is technically elected by the company’s shareholders. So before a startup receives outside funding, the board is “elected” by—and usually consists of—the founders (although it may exist in name only.). This agreement includes, among other things, specific procedures for determining who gets to pick the members of the board. Invested Interests board of directors business entrepreneur founders startup MORE
Many startup companies hire advisory boards. So do advisory boards really add value? In my experience most advisory boards under deliver relative to expectations. Ok, next advisory board meeting in 60-90 days. This is part of my ongoing series Startup Advice. MORE
I was also part of the original New York Tech Meetup board and participated on it until last year. I offered to step aside to bring a few more faces onto the board last year. I’m just as familiar with the New York Tech Meetup as anyone. I was one of the first 100 members, dating back to February 2005. Now that there are four open spots, I’d like to return and I have a few specific things I’d like to accomplish. MORE
I’ve sat on many boards over the past 2 decades and seen my share of high-functioning boards and low-functioning boards. Even the best companies with the best outcomes, however, usually hit some difficult moments where a highly-functioning boards matter. MORE
Forming a board. Board members can provide useful feedback, help to focus the founding team, and provide a network of contacts. . That''s how board participation can help an advisor scale. So why wait until you have a company to setup a board? Setting up a simple board before you''ve even got a company can help you get into the practice of collecting feedback and getting nudged back into focus. MORE
Managing Your Startup Board?—?A My talk was about “ managing your startup board ” and the full deck is on that SlideShare link and embedded below. How Do Boards Get Out of Sync? I think this analogy can hold for boards. Why Does My Board Get So Unfocused at Board Meetings? MORE
Boards are elected by the shareholders, sometimes with preferred shareholders holding seats by right of their investment. In that instance, often the investor selects the board member and the CEO goes along with the choice, mostly out of having no alternative at the time. It happens. MORE
Today’s episode is about her recent post, How To Manage a Board. 00:15 – Why Anu wrote How to Manage a Board. 1:45 – Board composition. 3:45 – Adding independent board members. 5:45 – The responsibilities of a board member. 8:30 – Productive board meetings. 15:15 – Dealing with board conflict. 17:40 – Following up after a board meeting. 20:30 – Dealing with difficult board members. MORE
I have been writing a series on how startup boards get selected, who sits on them and what to avoid. msuster Many investors don't know how to be good Board members. — @bznotes So I thought I’d offer some high-level advice on how to be a good board member. MORE
Boards are elected by the shareholders, sometimes with preferred shareholders holding seats by right of their investment. In that instance, often the investor selects the board member and the CEO goes along with the choice, mostly out of having no alternative at the time. It happens. MORE
One of the most common questions we hear from founders is “How do I manage my board?” It’s something that provokes anxiety, because this is the first time the founder/CEO is subject to external supervision, and the board has powers that include the firing of the CEO and the senior management. Where possible, I’ve included specific examples – drawn from YC companies and partners – of how companies have handled board issues. But first, what’s the purpose of a board? MORE
No matter what your size, if you intend to grow your business into more than just a lifestyle workplace, you should create a board of directors. If you take money from knowledgeable investors, you will be required to create a board as a part of the investment process. MORE
When you set up a board it is often initially a combination of the founders and the early investors. This post sets out how I believe founders (and investors) should think about independent board members having worked with many of them for the past 20 years. MORE
He wrote a post this long weekend on how he manages the board of DataSift. In his post he asserts, “You get the VCs you deserve” and the corollary “You get the performance out of your board that you deserve.” I am on a board that does business with Yahoo! MORE
Given how seldom you come together you’d imagine you’d have the boards’ full attention during this time. How to Deal with Electronic Distractions Of course the biggest competition you have with the attention of your board members is their mobile phones. MORE
Give one percent equity to each outside board member vesting over four years of service. Many early stage CEOs and board members have asked for some guidance regarding pay and time commitments for board members. Here is my best advice, based upon many boards and many years. MORE
Sometimes a board member is valuable in teaching the “how” to get things done inside the company. This is arguably the primary job of the CEO, with agreement from the board. The general rule for founders and CEO’s with a board. What the board does not do. MORE
This may be news, but boards of directors can offer bad advice. Having served on more than forty boards, I’ve seen such a variety of good and bad advice that my stories could fill a book. (oh, The composition of your board matters. Do you defer to those outside board members? MORE
Many board meetings are bored meetings. This is a shame since the value that the right board could add is immense if you select the right board members and manage them effectively. Yesterday I wrote a blog post about what the role of a board actually is. Boards take work. MORE
For weeks, we’ve highlighted both good and bad things about boards of directors for your company (or non-profit.) This week, let’s focus upon number one – aside from the requirements of boards to protect the company itself (not the shareholders.). Normal functions of boards. MORE
Most board meetings are administrative updates that accomplish very little other than inform board members about the performance of the company since the last board meeting. This is part of a broader series on Board Meetings. The board goes through admin approvals. MORE
And I don’t mean because they lend a credible name to an investor pitch: way too many entrepreneurs look at names on Advisory Board as just a way to expedite a raise. If that’s all you really expect of the Board, you’re cheating yourself as well as the investors before whom you dangled the names. Proper use of Advisory Boards begins with proper construction. But the real key to good results is that you have to keep the Board members engaged and educated. MORE
Should All of Your Management Team Attend Board Meetings? The age old question for every startup is whom to involve in the board meeting. If you’ve taken the time to assemble important people on to your board then you ought to use the scare time you have together to pick their brains. MORE
Should You Allow Board Observers on Your Startup Board? Photo by Antenna on Unsplash A board observer is somebody who attends your board meeting but doesn’t have a voting right. There are also certain points in a board meeting where you can ask the board observers to step out of the room unless they’ve negotiated specific rights that preclude this. Why do board observers exist? Note: This is part of a series on Startup Boards. MORE
Copeland brings breadth of corporate, government, higher education and startup leadership experience to growing board. To learn more about the Techstars leadership team and Board of Directors, please visit: [link]. ###. About Techstars stephanie copeland techstars board MORE
A board seat in and of itself has no particular value, and is often something to be *avoided*, rather than sought out. The legal role of the board is to make strategic and corporate-level decisions, hire/fire the CEO, and represent all of the stockholders of the company. Indeed, being a member of the board of directors means that you have a legal, fiduciary responsibility to the other investors, and are required to put the stockholders interests ahead of your personal ones. MORE
I wrote recently about the role of Advisory Boards in startups , which I expected to be a bit controversial. It’s just that many companies waste equity on advisory boards, pick the wrong advisers or set up advisory boards with the wrong expectations. MORE
The need for an expression like “hacking the board” reflects the fact that for startups, dealing with a board is about making the best of a situation the founder did not create and cannot fully control. MORE
I recommend that every early-stage startup find three Advisory Board members. Besides laying out the benefits, your advisory board invitation letter also might include: Your business plan executive summary. The Advisory Board’s objectives and focus. MORE
I recently read Brad Feld’s thought provoking piece encouraging founders to sit on the board of another startup company. You’ll be on the other side of the financing discussions (a board member, rather than the CEO). . We have Ian Rogers , the CEO of Topspin Media on our board. MORE
board Related Topics Both Sides of the Table
FEBRUARY 23, 2019
I have been writing a series on how startup boards get selected, who sits on them and what to avoid. msuster Many investors don't know how to be good Board members. — @bznotes So I thought I’d offer some high-level advice on how to be a good board member.
Y Combinator
JULY 15, 2019
One of the most common questions we hear from founders is “How do I manage my board?” It’s something that provokes anxiety, because this is the first time the founder/CEO is subject to external supervision, and the board has powers that include the firing of the CEO and the senior management. Where possible, I’ve included specific examples – drawn from YC companies and partners – of how companies have handled board issues. But first, what’s the purpose of a board?
Both Sides of the Table
FEBRUARY 24, 2019
When you set up a board it is often initially a combination of the founders and the early investors. This post sets out how I believe founders (and investors) should think about independent board members having worked with many of them for the past 20 years.
Both Sides of the Table
FEBRUARY 20, 2019
One of the things that founders have the most angst about is whom they should have on their board and at what stage of the business. Bad board members can make business very unpleasant. Do you need a board when you first start you company? Who Should be on Your Startup Board?
The Seraf Compass
AUGUST 28, 2019
Over the past few years, there has been much talk about the importance of investing both financial and human capital into the rapidly expanding entrepreneurial ecosystem. From our perspective, human capital is as important as financial capital in driving the long term success of startup companies.
TechStars
AUGUST 27, 2019
Copeland brings breadth of corporate, government, higher education and startup leadership experience to growing board. To learn more about the Techstars leadership team and Board of Directors, please visit: [link]. ###. About Techstars stephanie copeland techstars board
Both Sides of the Table
MAY 12, 2010
I recently wrote an article on how to respond to board members between meetings. It seems to me this is the main problem with boards. So when I read my post it sounded to me more like a new philosophy for “The Agile Board,&# so I put that as my subtitle.
Both Sides of the Table
JANUARY 6, 2014
I’ve written a few posts about boards recently as part of a series on the subject. I admit that I haven’t yet read it but I’ve had numerous discussions with Brad over the years about board structure & conduct and consider him a mentor on the topic.
Gust
DECEMBER 3, 2011
And I don’t mean because they lend a credible name to an investor pitch: way too many entrepreneurs look at names on Advisory Board as just a way to expedite a raise. If that’s all you really expect of the Board, you’re cheating yourself as well as the investors before whom you dangled the names. Proper use of Advisory Boards begins with proper construction. But the real key to good results is that you have to keep the Board members engaged and educated.
Berkonomics
AUGUST 22, 2019
Boards are elected by the shareholders, sometimes with preferred shareholders holding seats by right of their investment. In that instance, often the investor selects the board member and the CEO goes along with the choice, mostly out of having no alternative at the time. It happens.
Both Sides of the Table
FEBRUARY 21, 2019
Should All of Your Management Team Attend Board Meetings? The age old question for every startup is whom to involve in the board meeting. If you’ve taken the time to assemble important people on to your board then you ought to use the scare time you have together to pick their brains.
Gust
JULY 15, 2012
I recommend that every early-stage startup find three Advisory Board members. Besides laying out the benefits, your advisory board invitation letter also might include: Your business plan executive summary. The Advisory Board’s objectives and focus.
Berkonomics
MARCH 8, 2018
Give one percent equity to each outside board member vesting over four years of service. Many early stage CEOs and board members have asked for some guidance regarding pay and time commitments for board members. Here is my best advice, based upon many boards and many years.
Berkonomics
JANUARY 11, 2018
Some of you have gotten along forever without a board of directors, or used your spouse as the “other” board member from the start. But there are some very good reasons to build a great board composed of some outside members. Today, we cover an ideal board’s collective mindset.
Gust
JULY 12, 2012
A board seat in and of itself has no particular value, and is often something to be *avoided*, rather than sought out. The legal role of the board is to make strategic and corporate-level decisions, hire/fire the CEO, and represent all of the stockholders of the company. Indeed, being a member of the board of directors means that you have a legal, fiduciary responsibility to the other investors, and are required to put the stockholders interests ahead of your personal ones.
Both Sides of the Table
FEBRUARY 25, 2019
I’ve sat on many boards over the past 2 decades and seen my share of high-functioning boards and low-functioning boards. Even the best companies with the best outcomes, however, usually hit some difficult moments where a highly-functioning boards matter.
Gust
MAY 31, 2014
A company’s board of directors is technically elected by the company’s shareholders. So before a startup receives outside funding, the board is “elected” by—and usually consists of—the founders (although it may exist in name only.). This agreement includes, among other things, specific procedures for determining who gets to pick the members of the board. Invested Interests board of directors business entrepreneur founders startup
Both Sides of the Table
AUGUST 15, 2017
Many board meetings are bored meetings. This is a shame since the value that the right board could add is immense if you select the right board members and manage them effectively. Yesterday I wrote a blog post about what the role of a board actually is. Boards take work.
Both Sides of the Table
FEBRUARY 27, 2019
Most board meetings are administrative updates that accomplish very little other than inform board members about the performance of the company since the last board meeting. This is part of a broader series on Board Meetings. The board goes through admin approvals.
This is going to be BIG.
FEBRUARY 9, 2015
Forming a board. Board members can provide useful feedback, help to focus the founding team, and provide a network of contacts. . That''s how board participation can help an advisor scale. So why wait until you have a company to setup a board? Setting up a simple board before you''ve even got a company can help you get into the practice of collecting feedback and getting nudged back into focus.
Berkonomics
MARCH 17, 2018
I’ve been sued as a board member too many times over the past twenty-five years of board service. Entrepreneurs blaming their board for failures of a fragile, early stage company. As a result, I now insist upon D&O insurance for every board upon which I sit. Close.
Both Sides of the Table
MAY 21, 2019
Managing Your Startup Board?—?A My talk was about “ managing your startup board ” and the full deck is on that SlideShare link and embedded below. How Do Boards Get Out of Sync? I think this analogy can hold for boards. Why Does My Board Get So Unfocused at Board Meetings?
Both Sides of the Table
AUGUST 16, 2012
It has always surprised me that founders were so quick to fight over how many board members there were and so quick to agree to have as many board observers as people wanted. I have always been vehemently against board observers and wrote some of the reasons in this previous post.
Y Combinator
JULY 24, 2019
Today’s episode is about her recent post, How To Manage a Board. 00:15 – Why Anu wrote How to Manage a Board. 1:45 – Board composition. 3:45 – Adding independent board members. 5:45 – The responsibilities of a board member. 8:30 – Productive board meetings. 15:15 – Dealing with board conflict. 17:40 – Following up after a board meeting. 20:30 – Dealing with difficult board members.
Berkonomics
AUGUST 15, 2019
Sometimes a board member is valuable in teaching the “how” to get things done inside the company. This is arguably the primary job of the CEO, with agreement from the board. The general rule for founders and CEO’s with a board. What the board does not do.
Both Sides of the Table
MAY 27, 2013
He wrote a post this long weekend on how he manages the board of DataSift. In his post he asserts, “You get the VCs you deserve” and the corollary “You get the performance out of your board that you deserve.” I am on a board that does business with Yahoo!
Both Sides of the Table
OCTOBER 14, 2009
I wrote recently about the role of Advisory Boards in startups , which I expected to be a bit controversial. It’s just that many companies waste equity on advisory boards, pick the wrong advisers or set up advisory boards with the wrong expectations.
Both Sides of the Table
OCTOBER 11, 2009
Many startup companies hire advisory boards. So do advisory boards really add value? In my experience most advisory boards under deliver relative to expectations. Ok, next advisory board meeting in 60-90 days. This is part of my ongoing series Startup Advice.
Berkonomics
JANUARY 10, 2019
And because you need their money, the temptation is to listen a bit too well, and take all of the advice thrown at you during your presentations and during due diligence and finally from the vantage point of a board seat. Some board members may show dismay.
Both Sides of the Table
MARCH 23, 2019
Given how seldom you come together you’d imagine you’d have the boards’ full attention during this time. How to Deal with Electronic Distractions Of course the biggest competition you have with the attention of your board members is their mobile phones.
Berkonomics
NOVEMBER 13, 2014
No matter what your size, if you intend to grow your business into more than just a lifestyle workplace, you should create a board of directors. If you take money from knowledgeable investors, you will be required to create a board as a part of the investment process.
Both Sides of the Table
AUGUST 14, 2017
There’s a lot of mystique about what happens at board meetings and a lot of imagined board-room drama. In some ways being a board member is like how I’ve heard people describe learning to become a pilot: Many hours of boredom followed by some brief moments of absolute panic and fear.
Both Sides of the Table
FEBRUARY 22, 2019
Should You Allow Board Observers on Your Startup Board? Photo by Antenna on Unsplash A board observer is somebody who attends your board meeting but doesn’t have a voting right. There are also certain points in a board meeting where you can ask the board observers to step out of the room unless they’ve negotiated specific rights that preclude this. Why do board observers exist? Note: This is part of a series on Startup Boards.
Berkonomics
JANUARY 10, 2019
And because you need their money, the temptation is to listen a bit too well, and take all of the advice thrown at you during your presentations and during due diligence and finally from the vantage point of a board seat. Some board members may show dismay.
Both Sides of the Table
AUGUST 15, 2012
I recently read Brad Feld’s thought provoking piece encouraging founders to sit on the board of another startup company. You’ll be on the other side of the financing discussions (a board member, rather than the CEO). . We have Ian Rogers , the CEO of Topspin Media on our board.
The Seraf Compass
JUNE 5, 2019
The need for an expression like “hacking the board” reflects the fact that for startups, dealing with a board is about making the best of a situation the founder did not create and cannot fully control.
Berkonomics
AUGUST 29, 2019
For weeks, we’ve highlighted both good and bad things about boards of directors for your company (or non-profit.) This week, let’s focus upon number one – aside from the requirements of boards to protect the company itself (not the shareholders.). Normal functions of boards.
Berkonomics
SEPTEMBER 26, 2012
Boards are elected by the shareholders, sometimes with preferred shareholders holding seats by right of their investment. In that instance, often the investor selects the board member and the CEO goes along with the choice, mostly out of having no alternative at the time. It happens.
Berkonomics
AUGUST 8, 2019
This may be news, but boards of directors can offer bad advice. Having served on more than forty boards, I’ve seen such a variety of good and bad advice that my stories could fill a book. (oh, The composition of your board matters. Do you defer to those outside board members?
This is going to be BIG.
DECEMBER 12, 2011
I was also part of the original New York Tech Meetup board and participated on it until last year. I offered to step aside to bring a few more faces onto the board last year. I’m just as familiar with the New York Tech Meetup as anyone. I was one of the first 100 members, dating back to February 2005. Now that there are four open spots, I’d like to return and I have a few specific things I’d like to accomplish.
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