Startup Boards: What to Expect

Startup Boards: What to Expect

November 20, 2020 by investor

Most of the work in a standard board meeting are perfunctory duties such as approving minutes and reviewing financials and metrics.

The board also weighs in on key decisions around fundraising, strategy, and other topics.

Board members will discuss whatever you put on the agenda.  

Make sure the agenda items are of strategic importance and are prioritized, as the top items get the most attention while the lower items often get rushed. 

The more preparation you do before the meeting, the better outcome you’ll have. 

It takes time for board members to come up-to-speed on issues, so it’s best to send out background information before the meeting so they have an opportunity to prepare.

Sending the board meeting slides and financials in advance will reduce the number of board members reading through the materials during the meeting.

Calling a few key members beforehand to discuss any concerns or issues will reduce the number of queries in the meeting.

Board members in an effort to “do their duty”, will often ask for information and numbers that require special attention.

To keep this from getting out of control, ask what decisions will be made from it and try and get a follow-up commitment from the board member about their plan 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.