Board Diversity

A VC: Musings of a VC in NYC

The board diversity problem is a symptom of a much broader problem around lack of diversity in founders that get funded and lack of diversity in VC firms. Most startup boards are made up of a few founders and a few VCs. No wonder you have no diversity on the board. 1/ When a startup board is created, there should be two independent seats on it. 2/ VCs should accept observer seats instead of board seats when they invest in companies. But boards are important.

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InBIA Board of Directors Welcomes New Directors

INBIA

The post InBIA Board of Directors Welcomes New Directors appeared first on InBIA. Blog Featured InBIA News InBIA News Member News Board of Directors entrepreneurs Executive Committee InBIA innovation

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How to Be a Good Board Member

Both Sides of the Table

I have been writing a series on how startup boards get selected, who sits on them and what to avoid. I started this series in part to help entrepreneurs but also to help newer investors because I’ve know with so many new companies you have so many new board members and many people are trying to figure out there respective roles. msuster Many investors don't know how to be good Board members. As a board member it is your job to know this.

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Sounding Board raises cash as startups wake up to executive coaching

TechCrunch

Christine Tao and Lori Mazan , the brains behind Sounding Board , want to train any leader within an organization to be a better leader. But in the wake of the coronavirus pandemic, Sounding Board has seen demand for its platform grow even more.

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Bolster Your Management Team And Board

A VC: Musings of a VC in NYC

Bolster came out of stealth and into a beta period today and is opening up its marketplace to companies that want to access fractional talent and to executives who want to work at high growth companies in interim, fractional, advisory, or board roles. I have had the great pleasure of working with Matt Blumberg and the senior leadership team of USV’s former portfolio company Return Path (which was sold in 2019) for much of the last twenty years.

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Why Every Startup Should Have an Advisory Board

GAN

For most companies, that means having a board of directors. A board can be great in the right circumstances, but a board can also wield a ton of power over a CEO because they’re often investors who have capital in your company, which usually conveys them some tangible rights to it (like the ability to fire the CEO, to impact budgets, to change the overall direction of the company, etc.). This is where I believe an advisory board is critical for every startup.

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Best practices for Zoom board meetings at early-stage startups

TechCrunch

Board meetings are quickly increasing in their significance to foster consistent and vital interactions as an organization. As we move into 2021 and Q1 meetings are being put onto calendars, take some time to modernize how you conduct your board meetings. Isaac Roth. Contributor.

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Seraf Toolbox: Exit Planning for CEOs and the Board of Directors

The Seraf Compass

As a director on an early stage company board, how do you deliver on your main responsibility as a board member - maximizing shareholder value? And, what do you do to make sure the CEO is doing her job in increasing the value of your investment in the company?

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What Makes a Great Independent Board Member?

Both Sides of the Table

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. Founders on the other hand recognize that over time they are likely not to have complete control of the board of directors of the company they founded. The board is where large equity investors get their representation.

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From dorm rooms to board rooms: How universities are promoting entrepreneurship

TechCrunch

Earlier this year, 15 top U.S. universities joined forces to launch a one-stop shop where corporations and startups can discover and license patents.

Who Should be on Your Startup Board?

Both Sides of the Table

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. This is smart because amazing board members can be transformative with important advice and access and can also help attract other great board members (and team members). Bad board members can make business very unpleasant. Do you need a board when you first start you company? If you get a smart person on the board?—?just

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Boardable’s board management software for nonprofits raises $8 million

TechCrunch

Indianapolis-based Boardable , a provider of board management software tools for nonprofits, has raised $8 million in a new round of financing, the company said. Most nonprofits manage their board members with ‘digital duct tape’—endless email threads and file sharing services.

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Humaans raises $5M seed to make it easier for companies to on-board and manage staff

TechCrunch

Humaans , a London-based HR startup, has raised $5 million in seed funding to accelerate the development of its employee on-boarding and management platform.

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How to Manage a Board

Y Combinator

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?

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InBIA Welcomes New Directors

INBIA

Blog Ecosystem News Featured InBIA News Featured Member News InBIA News Member News Board of Directors entrepreneurs InBIA innovationThe post InBIA Welcomes New Directors appeared first on InBIA.

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Startup Boards

Both Sides of the Table

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. While the management of a startup company deals with the day-to-day decision-making within the company (strategy, budgets, goals, tasks, compensation) ultimately the Board of Directors has the legal governing responsibilities for these things. Who Should be on Your Board?

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Good and bad board members (and what to do about them)

TechCrunch

Ryan Caldbeck, co-founder and former CEO of consumer-brands-focused crowdfunding site CircleUp , recently published an email he’d written to a former director on the board of the company.

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The Agile Board

Both Sides of the Table

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. This post is really about getting information to the board faster. What’s missing is changing the board-level plan based on the new info that board members are getting more quickly.

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3 Tips for Getting Investors on Board With Your CSR Mission

Entrepreneurs' Organization

The post 3 Tips for Getting Investors on Board With Your CSR Mission appeared first on Octane Blog – The official blog of the Entrepreneurs' Organization. Contributed by Kevin Xu , CEO of MEBO International and co-founder of the Human Heritage Project. Corporate social responsibility (CSR) is not a new concept. Companies have been publicly proclaiming their dedication to sustainability, philanthropy and diversity for decades.

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How Boards Need to Evolve Over Time

Both Sides of the Table

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. When you first start your company and raise initial venture capital your board probably consists of 1-3 founders and 1-2 VCs. So our board meetings consisted of discussion about.

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Spade Work: How Early Stage Board Directors Add Value

The Seraf Compass

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. So how do we go about the job of applying human capital to foster this success

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STEPHANIE COPELAND JOINS TECHSTARS’ BOARD OF DIRECTORS

TechStars

Copeland brings breadth of corporate, government, higher education and startup leadership experience to growing board. August 27, 2019 – Techstars , the worldwide network that helps entrepreneurs succeed, today announced the appointment of Stephanie Copeland to the Techstars Board of Directors. I’m excited to join Techstars’ Board of Directors to help Techstars prepare for its next stage of growth, while enabling and growing new entrepreneurial ecosystems globally.”.

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The Board Before the Board

This is going to be BIG.

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.

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The Care and Feeding of Advisory Boards

Gust

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.

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Compass files S-1, reveals $3.7B in revenue on net loss of $270M

TechCrunch

Other investors include the Canadian Pension Plan Investment Board, Fidelity, Wellington Management, and the Qatar Investment Authority, according to Crunchbase. Compass , the real-estate brokerage startup backed by roughly $1.6 billion in venture funding , filed its S-1 Monday.

How do you pay an early stage board?

Berkonomics

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. Pay early stage board members of companies that are not lifestyle businesses one percent of the fully diluted equity in the form of an option that vests over four years of service.

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What’s a company board good for, anyway?

Berkonomics

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. And good board members can add real value to you and the company. Today, we cover an ideal board’s collective mindset. Generative thinking: Do you have board members who often ask “why?” And what CEO or board wouldn’t want that?

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Should All of Management Attend Board Meetings?

Both Sides of the Table

Should All of Your Management Team Attend Board Meetings? The age old question for every startup is whom to involve in the board meeting. The reality is that there are some board meetings in which having a broad set of management present is a great idea and there are some meetings where in can be a hindrance. 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.

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11 Quick Tips to Get More Value out of Your Board

Both Sides of the Table

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. In short the board is there to represent the interest of all shareholders (big & small) of the company and all other stakeholders (debt, creditors, employees, etc.). Never be surprised at a board meeting.

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If I join a company as a co-founder, should I ask for a board seat?

Gust

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.

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How do startups decide who sits on the board?

Gust

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

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Diverse companies, boards benefit Oklahoma economy

Innovation 2 Enterprise

“Whether it is experience, age, gender, race, or any other trait, the different life and work experiences that individuals bring to a company or a board of directors provides a significant advantage in problem solving and strategic planning, which ultimately creates the best outcome for all.” Last week the CEO of Goldman Sachs announced that Goldman won’t take companies public anymore unless they have at least one “diverse” board member.

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Managing Your Startup Board?—?A Short Presentation

Both Sides of the Table

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. I also wrote an entire series on the topic of Startup Boards if you want to do any more reading that link has several articles you can dig into. 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?

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High Functioning vs. Low Functioning Startup Boards

Both Sides of the Table

I’ve sat on many boards over the past 2 decades and seen my share of high-functioning boards and low-functioning boards. Here are some observations I have from this exposure: If a company moves from strength-to-strength with predictable outcomes, easy financings, low staff turn-over, limited competitive threats then the composition of the board probably doesn’t matter as much. In the best cases boards come together to help the company get through its trough?—?in

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Rethinking Board Observers – The Role of the “Silent Observer”

Both Sides of the Table

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. But over the past couple of years I’ve slightly modified my views, which I’d like to explain: The Case Against Board Observers.

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Why Burnout Should be a Topic at Your Next Board Meeting, and What to Do About It

Tomasz Tunguz

The Economist ran a story about the future of work this week. Working remotely, we have reduced meeting length by about 15% and increased our total time at work by 2 hours per day. We might declare we have found an extra 10 hours in the workweek from nothing.

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8 Tips To Get the Most Out of Your Investors and Board

Both Sides of the Table

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.” By spending more time educating your board on your business you get more valuable advice from them. In addition to helping manage the board Chris also helps represent the interests of the angel investors / common stock holders.

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