Startup Board of Directors: Creating a Highly Functional Board

This is a 4 part series designed to help founders, CEOs and even board directors create and navigate a highly functional, constructive, positive, engaging, and high-performing board of directors. I have been sitting on boards of directors for well over a decade now, and while my experience is primarily on startup boards that have raised venture capital from investors, it also includes sitting on the boards of venture firms, university business schools, national associations, and non-profits, and even a branch bank of the United States central bank.

Some of the boards I have been on have been highly dysfunctional, and many founders I talk to see a board of directors as a necessary evil, just something they have to gut through to play the game of venture.

However, some boards have been exceptional experiences that I will treasure, where the company and the CEO both grew in lockstep, where everyone in the room was on the same page with the same agendas, where everyone learned, everyone grew, and the company flourished. And in these moments, everyone was winning. The shareholders, the CEO, the employees, the board, and dare I overstep and say the community as well. Everyone. I want every board to be this way, in fact, every board can be this way, but it starts with you.

Part 1: The Framework

In this section, we’ll explore the difference between a board of directors and a board of advisors, we’ll learn about the formal and informal responsibilities of your board of directors, and we’ll learn the difference between a reporting board and a collaborative board. A quick preview, the former sucks, and the latter can be your company’s secret weapon. Read on…

Part 2: The People

In this section, we explore the people on your board. This includes how to run a process to find and *hire* your board of directors and how to onboard all your board members, something I find most founders don’t do well or at all. Furthermore, we’ll explore how to build trust, a crucial element to building that collaborative board we discussed in the previous post. Read on…

Part 3: The Board Package

In this section, we’ll break down the separate parts of a board document and how to think about them. We’ll also discuss different formats for delivery and timing. Read on…

Part 4: The Board Meeting

Here’s where everything you’ve been working on comes together. We’ll discuss who’s in attendance (clue, it’s not just your board directors), we’ll explore a recommended agenda, and discuss the power of debate in your boardroom. Read on…

This was a fun series for me to put together. If you enjoyed it, if you disagree with anything, or if you feel like I’m missing important elements, please reach out. I’d love your opinion and will update the series as time goes on.