Forming and Organizing Your Board

07/28/2016 04:40 to watch
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The typical board size ranges somewhere between three and seven members, and you should always have a good balance between founders, outside directors, and investors. It doesn’t have to always be equal, but you want to make sure you have a balance around the table and plenty of different points of view.

Suggested Readings

Founders School || Startup Boards || Forming and Organizing Your Board || Impact Guide (PDF).

Feld, Brad and Mahendra Ramsinghani. 2013. Startup Boards: Getting the Most Out of Your Board of Directors. New Jersey: John Wiley and Sons Inc. Chapter 3 “Creating Your Board”.

Steve Blank. “Don’t Give Away Your Board Seats.” Wall Street Journal. Online column, June 17, 2013.

Brad Feld. “Start Building Your Board Early.” Wall Street Journal. Online column, June 17, 2013.

Brad Feld. “Compensation for Board Members.” Feld Thoughts. Blog post, April 3, 2005.

Feld, Brad and Mahendra Ramsinghani. 2013. Startup Boards: Getting the Most Out of Your Board of Directors. New Jersey: John Wiley and Sons Inc. Chapter 5 “The Formal Structure of a Board”.

Blumberg, Matt. 2013. Startup CEO: How to Build a Company to Success. New Jersey: John Wiley and Sons Inc. Chapter 33 “Building Your Board”.

Questions for You

Do I have a balanced set of board members?

How will I balance the board as more members are added?

How do I handle compensation with board members?

Do I need a Lead Chairman? Who would fill this position appropriately?

Tools and Exercises

Keep track of the different types of members being added to the board. Check the balance, and adjust accordingly.

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