Startup Boards

Getting the Most Out of Your Board of Directors

By: Brad Feld

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eText | 9 December 2013 | Edition Number 1

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An essential guide to understanding the dynamics of a startup's board of directors

Let's face it, as founders and entrepreneurs, you have a lot on your plate—getting to your minimum viable product, developing customer interaction, hiring team members, and managing the accounts/books. Sooner or later, you have a board of directors, three to five (or even seven) Type A personalities who seek your attention and at times will tell you what to do. While you might be hesitant to form a board, establishing an objective outside group is essential for startups, especially to keep you on track, call you out when you flail, and in some cases, save you from yourself.

In Startup Boards, Brad Feld—a Boulder, Colorado-based entrepreneur turned-venture capitalist—shares his experience in this area by talking about the importance of having the right board members on your team and how to manage them well. Along the way, he shares valuable insights on various aspects of the board, including how they can support you, help you understand your startup's milestones and get to them faster, and hold you accountable.

Details the process of choosing board members, including interviewing many people, checking references, and remembering that there should be no fear in rejecting a wrong fit
Explores the importance of running great meetings, mixing social time with business time, and much more
Recommends being a board member yourself at some other organization so you see the other side of the equation

Engaging and informative, Startup Boards is a practical guide to one of the most important pieces of the startup puzzle.