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. 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.

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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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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. 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?

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3 Tips for Getting Investors on Board With Your CSR Mission

Entrepreneurs' Organization

They also enjoy easier access to finance and face fewer capital restraints. 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.

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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. What exactly is the purpose of a Board of Directors and how do boards best function?

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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.

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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. . Unfortunately, many companies don''t get financing--because they don''t get any of the above. That''s how board participation can help an advisor scale. So why wait until you have a company to setup a board? It''s what the best performing companies do once they take on outside investors.

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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. Even the best companies with the best outcomes, however, usually hit some difficult moments where a highly-functioning boards matter.

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We’re Entering the Stay-Home Economy. Here are 10 Industries That Will Be Winners

Entrepreneurs' Organization

You can expect to see families invest in toys, to keep their children occupied, as well as board games, projects and puzzles that can be done as a family in the evening and on weekends. Hasbro , which currently has five of the 10 top-selling board games on Amazon, has major potential here.

How to Prepare for a Board Meeting to Make Sure you Crush It

Both Sides of the Table

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.

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How International Founders Can Raise US Financing

Startup Grind

I joined the board of one of my international investments for the first time ever last year. When I was a Y Combinator partner, I noticed that more and more of the batches were companies started by international founders.

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.” I am on a board that does business with Yahoo!

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A Startup Advisory Board Dream Team is Priceless

Gust

I recommend that every early-stage startup find three Advisory Board members. Even more importantly, you should expect these members of your team to be your advocates to angel or VC investors, or even be part of your friends and family financing round.

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Diverse companies, boards benefit Oklahoma economy

Innovation 2 Enterprise

Our senior vice president of marketing and our director of finance are both women. “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.” By 2021, the bank will look for two diverse board members. By Scott Meacham.

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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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What Do Boards Actually Do?

Both Sides of the Table

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.

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Should You Allow “Board Observers” on Your Startup Board?

Both Sides of the Table

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.

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Should You Really Sit on Other Boards When You’re a Startup Founder?

Both Sides of the Table

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). .

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Disrupting Finance From Above: Wealthfront

abovethecrowd.com

banks consumer checking offerings have become less favorable across the board. Finance government stimulus Internet Payment Regulation Uncategorized Venture Capital Disruption payments wealthfront

Author-entrepreneur says i2E offers ‘founder-friendly’ financing through state-funded program

Innovation 2 Enterprise

He was CTO of a highly successful startup through an eight-figure acquisition, an entrepreneur-in-residence at Techstars, and has served multiple years on the advisory board of South by Southwest Interactive. He was talking about the Technology Business Finance Program (TBFP), Oklahoma’s nationally recognized pre-seed capital fund that i2E administers for the Oklahoma Center for Science and Technology. By Scott Meacham.

Revisiting Paul Graham’s “High Resolution” Financing

Both Sides of the Table

When I first read Paul Graham’s blog post on “High Resolution&# Financing I read it as a treatise arguing that convertible notes are better than equity.

How to Build Authentic Customer Relationships That Spark Innovation

Entrepreneurs' Organization

Engaging a core group who believes in what you’re doing gives you a sounding board for product tweaks and new ideas. Business/Finance Tips general StartupWritten for EO by Jason McCann , a lifelong entrepreneur and experienced founder.

Equity financing: great for rapid growth startups

Berkonomics

We’ve spoken of financing a young company through friends and family, known as “inside angels.” VCs often invest no less than $2 million in a single deal, finding it difficult to put less money to work and still spend time on boards and coaching entrepreneurs to a successful liquidity event.

[Trusona in Yahoo Finance] Trusona Announces New Additions To Advisory Board

OurCrowd

Trusona, the pioneering leader in passwordless multi-factor authentication technology, today announced the strategic appointment of four new members to the company’s advisory board — Theresa Payton, Chris Roberts, Tom Reilly and Victor Nichols. The post [Trusona in Yahoo Finance] Trusona Announces New Additions To Advisory Board appeared first on OurCrowd.

[Ossio in Yahoo Finance] OSSIO Appoints Healthcare Industry Veteran Gary J. Pruden to Board of Directors

OurCrowd

The post [Ossio in Yahoo Finance] OSSIO Appoints Healthcare Industry Veteran Gary J. Pruden to Board of Directors appeared first on OurCrowd.

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How to Transform Your Board Meeting with Written Narratives

Tomasz Tunguz

Written materials transform board meetings. Board meetings with written materials are better. The VP Finance attaches the financial statements and key reports. The team circulates the narrative with the board ahead of time. Board members comment and ask questions as they read. I’m convinced written materials produce superior board meetings.

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EnsoData Raises $9M Series A Financing to Empower Clinicians with Waveform AI

Dream It

Last week, the company announced a $9 million Series A financing round led by Venture Investors and Zetta Venture Partners. The Series A participants join Series Seed investors Colle Capital, HealthX Ventures, Sternhill Associates, as well as board of directors members Justin Mortara, Ph.D.

“Bored” of Directors Can Become Clash of Titans

Gust

Yet I’ve rarely seen entrepreneurs more fired up than when recounting war stories of startups whose founders had control of the company wrested from them, were forced to take financing or compensation deals on outrageously onerous terms , or worst of all, fired from their own companies.

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[Nexa3D in Yahoo Finance] Fastest 3D Printer Nexa3D Welcomes Frank S. Sklarsky to Board of Directors

OurCrowd

Sklarsky has joined its board of directors. The post [Nexa3D in Yahoo Finance] Fastest 3D Printer Nexa3D Welcomes Frank S. Sklarsky to Board of Directors appeared first on OurCrowd.

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[Global Kinetics in Yahoo Finance] Global Kinetics Corporation Appoints Matthew Garrett As Independent Director to its Board of Directors

OurCrowd

The post [Global Kinetics in Yahoo Finance] Global Kinetics Corporation Appoints Matthew Garrett As Independent Director to its Board of Directors appeared first on OurCrowd.

[BioCatch in Yahoo Finance] BioCatch Expands Financial IT Expertise with the Appointment of Mitchel Lenson as an Independent Board Director

OurCrowd

BioCatch, the global leader in AI-driven behavioral biometrics, today announced the appointment of Mitchel Lenson as an independent member of its Board of Directors.

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Effective tax policies can boost state investment

Innovation 2 Enterprise

Oklahoma’s Technology Business Finance Program (TBFP) Seed Fund is a nationally recognized best practices example of legislated early stage capital that has stood a 20-plus year test of time. Certain industries, for example real estate or finance, may be excluded. They provide mentoring, advice, and board of directors participation. News angel investors Scott Meacham tax credits TBFP Technology Business FinanceBy Scott Meacham.

[Nexa3D in Yahoo Finance] Ultrafast 3D Printer Nexa3D Taps Former Uber Exec Jeff Holden to Join Board of Directors

OurCrowd

Nexa3D, the maker of ultrafast stereolithography production 3D printers, announced today that former Uber executive Jeff Holden will join its board of directors. The post [Nexa3D in Yahoo Finance] Ultrafast 3D Printer Nexa3D Taps Former Uber Exec Jeff Holden to Join Board of Directors appeared first on OurCrowd. Read more here.

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Do It Right The First Time, Part II: Visit the Doctor or House Call?

Gust

Determine who will serve on the Board of Directors and in executive officer positions (usually founders). Appoint Newco’s initial Board of Directors. Advisory board agreements. Most startups will involve legal counsel whenever doing anything involving the company’s securities, such as adopting a stock option plan , making grants under the plan, issuing convertible notes in a financing round , and so forth.

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Knowledge Is Power: Convertible Note Financing Terms, Part V

Gust

As we conclude our convertible note financing series, there are assorted terms commonly seen in term sheets and deal documents that are worth touching on briefly. This is the norm for West Coast deals, but it’s often the case in dealing with East Coast investors (more commonly for VC financing rounds rather than angel seed rounds) that the lead investor wants its lawyers to draft the documents.

[Ro in Yahoo Finance] Some wellness products growing ‘over 1,000%’ during pandemic: Ro CEO

OurCrowd

“Some of our allergy products are up 30%, all the way to smoking cessation, which is upwards of 100%, to some of our sleep products that are actually over 1,000% month-over-month growth,” Zachariah Reitano, Ro’s co-founder and CEO, said in an interview during Yahoo Finance Breakouts. “We’re

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[uBeam in Yahoo Finance] uBeam has become SonicEnergy™

OurCrowd

Will Kain, Board Member and Acting CEO, has announced that uBeam Inc. The post [uBeam in Yahoo Finance] uBeam has become SonicEnergy™ appeared first on OurCrowd. is officially changing its name to SonicEnergy , effective immediately.

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