Coaching Founders To Improve Board Meetings
Investors sit on many Boards, while Founders typically only do it for their company – until they make it and take Board seats at other companies.
It is up to the VC to help Founders make the Board meeting count. You can share all the content in this online module with Founders (we actually train entrepreneurs with this module, too.)
Another source is Mark Suster’s presentation to the CEOs of Khosla Ventures portfolio companies. We have touched upon all these points, but it’s a good resource to share with Founders whose Board you sit on.
One framework is handy: the Inform-Decide-Present-Debate grid, which is reproduced below.
The nature of a specific Board meeting may change depending on what the situation requires:
- “Filibuster Boards” are used to allow senior managers to present what the company is working on
- “Advice Boards” have been implicitly mentioned throughout this module: Founders include meaningful data in the Board pack to hear different opinions and make a decision (note that the Decide part is not done by the Board but by the entrepreneurs)
- “Strategic Boards” are needed when Directors need to vote on a resolution, mostly as a result of a provision in the shareholders’ agreement
Make sure you leverage all the content in our module to help Founders build and maintain effective Board meetings.
What else do you find helpful in Suster’s presentation?
💬 Let us know in the Comments section below.
👀 Sources & Additional Material
- Managing Your Startup Board – A Short Presentation, by Mark Suster (2019)