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Listen "EP #73 - Katja Berlinger: Successful Boards of Directors"
Episode Synopsis
Timestamps:
1:47 - What do Swiss startups often get wrong with boards of directors?
6:00 - What different skills need to be present in a board of directors?
12:06 - How to best compensate your board
18:52 - How can a board help your startup achieve success?
23:05 - How should a startup collaborate with a board?
The Episode In 60 Seconds
Setting up your Board of Directors - the right way.
The right composition
Get diversity of perspectives and skills, be sure you cover at least: legal, finance and your industry
Don’t go for titles, go for people with time and expertise
4 is considered a good number to start
Founders on the board
In small companies where they hold a large stake, this may be appropriate
In large companies, operations and board roles have to be separated
Compensation
Consider paying a fixed compensation in cash or equity and a variable compensation based on time invested
Where to find the right board members
Choose people you know you can work with
If you have smart money investors, they will probably be a good addition to the board
How boards change when companies grow
Small company boards may be more operational
As companies grow, boards necessarily have to professionalize and become less operational
Meeting and decision making
Meetings at most once a month and at least once a quarter
If possible, decisions should be unanimous or more time should be invested into discussions
If a board member dissents, be sure to note it in writing
Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest initiatives. That way, there’s no excuse for missing out on live shows, weekly give-aways or founders dinners!
1:47 - What do Swiss startups often get wrong with boards of directors?
6:00 - What different skills need to be present in a board of directors?
12:06 - How to best compensate your board
18:52 - How can a board help your startup achieve success?
23:05 - How should a startup collaborate with a board?
The Episode In 60 Seconds
Setting up your Board of Directors - the right way.
The right composition
Get diversity of perspectives and skills, be sure you cover at least: legal, finance and your industry
Don’t go for titles, go for people with time and expertise
4 is considered a good number to start
Founders on the board
In small companies where they hold a large stake, this may be appropriate
In large companies, operations and board roles have to be separated
Compensation
Consider paying a fixed compensation in cash or equity and a variable compensation based on time invested
Where to find the right board members
Choose people you know you can work with
If you have smart money investors, they will probably be a good addition to the board
How boards change when companies grow
Small company boards may be more operational
As companies grow, boards necessarily have to professionalize and become less operational
Meeting and decision making
Meetings at most once a month and at least once a quarter
If possible, decisions should be unanimous or more time should be invested into discussions
If a board member dissents, be sure to note it in writing
Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest initiatives. That way, there’s no excuse for missing out on live shows, weekly give-aways or founders dinners!
In God we trust