A good Board can be your startup’s secret weapon. A bad one can sink you, even with a great idea. Most advice for founders focuses on pitching to investors, but way less attention is paid to how you work with them once they’ve written the check. Let’s change that.
Why Boards Matter (Even in the Early Stages)
- They’re Not Just Money: Good board members bring industry connections, strategic advice, and act as a sounding board when things get tough (and they will).
- Accountability When You Need It: Early on, it’s easy to stay in “heads down” mode. A Board forces you to regularly articulate your vision and defend your milestones.
- Attracting Future Talent: A strong Board signals to potential hires that you’re serious, making it easier to recruit as you grow.
- “Adult Supervision” for the Overly Optimistic: Let’s face it, founders need someone to occasionally inject a dose of realism…in a supportive way.
How to Avoid Common Clashes
- Set Expectations from Day One: What’s the reporting cadence? How involved do they want to be in major decisions? Get this in writing to avoid miscommunications later.
- No Surprises: Blindsided Boards are angry boards. Give them advance warning of potential problems, so they feel part of the solution, not left scrambling to react.
- Leverage Their Individual Strengths: Not all Board members offer the same value. Figure out who’s the dealmaker, who’s the ops guru, etc., and go to them accordingly.
- Manage the Egos: Some investors are…difficult. Depersonalize the feedback, focus on protecting the company’s interests, and don’t get dragged into petty power plays.
Building a Relationship, Not Just Reporting Financials
- Find the True Believers: Ideally, at least one Board member is as passionate about your mission as you are. Nurture that relationship, as they’ll be your advocate when times are tough.
- Be Coachable (Selectively): You don’t have to follow every piece of advice blindly. But show you’re genuinely considering their perspective, and they’ll be more respectful of your autonomy.
- Celebrate Wins Together: Too often, Boards are only brought in on the problems. Share the good news, and they’ll feel more invested in your long-term success.
What’s the best (or worst!) piece of advice you ever got from a Board member? Share your stories in the comments!
