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Be Honest on VC Reference Calls

This is going to be BIG.

A friend of mine running a very successful company found himself conflicted over an upcoming reference call. Less than a year in, both had disappeared from board participation entirely, letting the other VC firm in the deal take the reigns. Reference calls to potential limited partners seemingly have no upside to founders.

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Why it’s Critical That you Reference Check Your VC

Both Sides of the Table

How do you then reference check your VC to be sure that you’ve chosen a good firm and partner? Get a reference list - Most entrepreneurs do almost no reference checks or at least do them very informally. Some VC’s will go out of their way to give you all their references as Fred Wilson says in his post.

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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. Offering a sparring-partner function on strategic decisions.

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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. But first, what’s the purpose of a board?

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Fewer CEOs are serving on outside boards. That’s good (and bad)

TechCrunch

He is a member of the boards of directors at SumoLogic and Generac Power Systems. It used to be a heavily traveled two-way street in corporate America: CEOs joined other companies’ boards to broaden their experiences, expand their influence, or simply because it felt good. I’m on two outside boards. Interestingly, it’s both.

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The Pros and Cons of Rando Rich People Investing in Your Startup

This is going to be BIG.

I’m talking about what someone I know recently referred to as “dentists”. Governance Moreso than a lot of actual VCs, a lot of high-net-worth folks tend to ask for board representation—even in the super early stages of a company where boards tend to be a little less formal. That’s why I normally ask for a Board Observer seat.

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Do you need an advisory board?

Berkonomics

Have you ever thought of creating an advisory board? Usually, you would want to create an advisory board to fill in the critical areas of need not evidenced in the board of directors or within the company itself. How about “chairman” of the advisory board? The post Do you need an advisory board?

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