Most entrepreneurs will never raise Series A venture capital and have to worry about the type of board of directors composed of investors. However, if you are creating a business that will need outside capital to go big, then this post is for you.
Getting a grip on the fundamentals of formulating and managing a board of directors is critical.
There’s a fantastic post on the Venture Hacks website that gives you an inside baseball perspective in a post titled Create a board that reflects the ownership of the company.
The bottom line comes from this quote from the article:
The board you create will be your new boss. But trying to please everyone on your board dooms you to managing board members and ignoring customers and employees. Great companies are rarely built by committee and a bad board will waste your time trying to run the company their way.
This hack will show you how to create a board of directors that you can trust even when you don’t agree with its decisions.
Creating a good board is definitely a luxury problem for an entrepreneur that most of us creating startups with big visions want to have one day.
It’s better to read all you can now, and understand the ins and outs well before you have to put your name on that dotted line.
So make sure you read the full post from Venture Hack here.