Board members can help the company in many ways.
Here’s a list of potential support:
– They can help recruit employees for the company as many board members have extensive networks
– They can help with the fundraise as they know investors
– They can help with strategy since most will come from the company’s industry
– They can help with identifying and contacting customers
– They can help find service providers for legal, accounting, and others
– They can help the CEO with gaps in their knowledge or skillset
– They can help lead the company through a successful exit
Many have expertise in different areas including sales, marketing, engineering, and more.
It’s important to identify how best the board can help your company and engage them for it.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.