Excellent post - very good advice. The key part for me... "The goal is to create contextual understanding.."
Absolutely - I think of this as ART.. Accountability, Responsibility and Transparency. If you have all three present you will have the necessary context.
rkorba
· 2 years ago
The man speaks the truth; and having been on a board with him, can vouch that he walks the walk, as well. Well said, Nick -- wish the other 100 boffins and VCs i've been stuck on boards with were as good.
Andy Price
· 2 years ago
Very good points and advice. The best Board members I've met or heard of are those who'll actually do something for their companies. Open a door with a lighthouse customer, meet with a strategic partner, connect the company with a reputable VAR in China, meet an influential politician. Whatever is needed to advance the company's agenda. Put their experience, but as importantly, their rolodex to use. Those people stand out.
Don Jones - VentureDeal
· 2 years ago
Good points. Not only is it important to manage the process with the board, prior to that it is important to understand how your venture capital partner operates in board meetings and what their expectations are - this ideally should happen before you accept their investment!
Anthony Kuhn
· 2 years ago
Nic:
I had no idea the boardroom was such a gallowy place where axes are sharpened and fancy Italian leather shoes fill with nervous sweat in anticipation of the chopping block. I would have thought being so rich that spending all the money in the vault was unfathomable would bring solace and calm to the busy CEO lifestyle. I cross-posted on your piece to http://blog.innovators-network.org The Innovators Network is a non-profit dedicated to bringing technology to startups, small businesses, non-profits, venture capitalists and intellectual property experts. Please visit us and help grown our community!
Best wishes for continued success,
Anthony Kuhn Innovators Network
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· 2 years ago
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· 2 years ago
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Atul Salgaonkar
· 2 years ago
The post assumes that the board members will comply. For some VCs, the startup CEO has been "hired" by the VC firm through their investment. Also, many board members also sit on boards of other companies, where they don't have to come prepared, not participate in problem solving. And, with egos in the picture, are not likely to engage fully. Alignment with the board is more important than the alignment of the company's executive team and I know a few startups where they prepare one set of status reports for the board meets and another one for getting the work done.
Pascal Levensohn
· 2 years ago
Nick Sturiale makes several important points about how to optimize board meetings-- the core link between all of them is the need for thoughtful process to be in place in order to make the board meeting valuable for all participants. Defaulting to board meetings that emphasize form over substance-- allowing directors to arrive unprepared and CEOs to emphasize operational reports as opposed to engaging in strategic discussions-- points to a deeper problem of failed communication. If your board meeting turns into a waste of time, it is incumbent on both the management and the VCs to proactively change this dynamic. Unfortunately the substance of this excellent editorial is unlikely to be a surprise to many VC company boards that are driven by inertia. The question is, will they notice and do something about it?
Bob Concannon
· 2 years ago
Changing the dynamic of what takes place at most board meetings is not as simple as this post may make it seem (although in due respect, Nick does state that his rules are "highly simplified" ). As an executive search professional who gets hired by boards to fill CEO seats, we are often in attendance at aforementioned board meetings to observe the dynamics at play. Play here is the operative word. If there were a way, truly a way, where communications could be open and honest - so much time, money and energy could be converted into so much more product, revenue and return! The CEO truly does own much of this, but the venture partner does as well. When both sides (and why sides, why not more round tables?) can put on the shoes of the other and truly "see" things from that perspective, I'm afraid that inertia, bad habits, and ultimately stasis will happen more frequently than either party desires...
does any one know if Nick Sturiale's fund is investing? it looked to me that the whole firm was on a holiday for the last year or so, and suddenly nick is doing a lot of PR after getting an exit from one of his investments? do they really have money and can they add value?
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· 2 years ago
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Absolutely - I think of this as ART.. Accountability, Responsibility and Transparency. If you have all three present you will have the necessary context.
I had no idea the boardroom was such a gallowy place where axes are sharpened and fancy Italian leather shoes fill with nervous sweat in anticipation of the chopping block. I would have thought being so rich that spending all the money in the vault was unfathomable would bring solace and calm to the busy CEO lifestyle. I cross-posted on your piece to http://blog.innovators-network.org The Innovators Network is a non-profit dedicated to bringing technology to startups, small businesses, non-profits, venture capitalists and intellectual property experts. Please visit us and help grown our community!
Best wishes for continued success,
Anthony Kuhn
Innovators Network
I just got my own USB rocket launcher :-) Awsome thing.
Plug into your computer and you got a remote controlled office missile launcher with 360 degrees horizontal and 45 degree vertival rotation with a range of more than 6 meters - which gives you a coverage of 113 square meters round your workplace.
You can get the gadget here: http://tinyurl.com/2qul3c
Check out the video they have on the page.
Cheers
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Alignment with the board is more important than the alignment of the company's executive team and I know a few startups where they prepare one set of status reports for the board meets and another one for getting the work done.
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У меня такой вопрос,кто что интересное подскажет буду признателен.
Мы с друзьями собираемся поехать в круиз по просторам России и ближнего зарубежья месяца на два на своих машинах,но не как не можем согласовать маршрут,если у кого уже был опыт такого путешествия,может,что посоветуете.Девчонок с собой не берем,думаем,что во все городах России с этим не будет проблем,если у кого будут рекомендации и в вопросе отдыха с девушками тоже буду признателен.
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