4 Rookie Mistakes Founders Make Running Board Meetings

board meeting

Failure to lead your board right could mean your job or your company. Building and working with a board of directors can either be one of the most rewarding aspects of running a company, or it can be one of the most painful business experiences you can imagine. The choice is yours. One of the more interesting aspects of starting a company surrounds the creation of a board of directors. First, lets be clear that this is a board of directors who bear a fiduciary responsibility to the company and represent the shareholders. This is not to be confused with an advisory board, which has no corporate responsibility whatsoever. For some of you, creating a board of director’s sounds like a pretty cool task; find interesting people to help guide you as your startup rockets upward. Slow down, sparky. Most board of directors are investors in your company (as dictated in their investment agreement) and therein lies the challenge. Wrong Approach. As I advise all of my company founders/CEO’s, there are two approaches to your investors–the pre-investment approach where you are selling and convincing them, and the post-investment approach where you totally switch gears and make them your confidant. Most

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