Joining the board of a startup is an exciting opportunity to leverage your particular expertise and background to help a fast-growing young company, but it can also be a tricky role to play. The more nascent the company, the less likely it is that processes have been established, and it can often feel like the Wild West.

Your role will require a balance between cheerleader, sounding board, and giver of tough love. Below are some practical tips on how to ensure you’re an effective member of the board.

Before the meeting:

• Read the materials in advance – Founders should be providing the board materials at least 72 hours in advance of each board meeting. Make sure to fully digest the information so you can come prepared with the most useful questions and feedback. When you learn the date of the next board meeting, it may be helpful to block off an hour or two the day before to ensure you give yourself time to review the materials.
• Schedule some time to speak with the founder/CEO in advance of the meeting – share any concerns and conversation topics so the founder/CEO can come prepared to address them and make the most out of the meeting. Bring up any topics you feel are missing from the agenda. This may help you build trust with the founder and avoid them feeling cornered in front of the full board.

During meetings:

• Be thoughtful about time management – Make sure to prioritize the most important items. If you feel the board is getting stuck in the weeds on a topic that’s not going to move the needle, speak up.
• Be present – We’re all guilty of it but make every effort to minimize distractions by putting away your phones, computers, etc..
• Avoid micromanagement – The board’s role is to focus on the big picture, so try to avoid problem-solving on very specific details of the business. If it’s something you have deep expertise and/or passion around, set up a separate meeting with the founder to dive into those tactics.
• Pay attention to your tone – We’ve all been in meetings where someone asks a question just to make themselves look good or make someone else look bad. To avoid this, make sure you ask open-ended questions. This gives the founder the opportunity to create a dialogue rather than going into defense mode.
• Make sure everyone has a voice – Board meetings can get dominated by ‘over-talkers.’ This can become an issue when the person dominating the conversation isn’t adding value. Step in and ask someone who hasn’t shared much what their thoughts are on a topic. This can help bring in other viewpoints and doesn’t make the over-talker feel like they’re being silenced.

Post-meetings:

• Board members can provide the most value outside of the boardroom – Your responsibility as a board member extends well beyond the confines of a boardroom. The best board members constantly think of ways they can add value, particularly through introductions to customers, talent, subject matter experts, etc.

Ongoing:

• Show empathy and pick up on cues – Running a company is incredibly stressful, and many founders suffer from poor mental health. Pick up on any cues that a founder may be struggling and offer to speak with them and/or help. The success of the business depends on the founder being in a good headspace to make smart decisions.
• Get to know the other board members – Building strong relationships with other members on the board make it easier to tackle difficult challenges that come up. You may not always agree on a topic but by building a relationship with them, you at least know where they’re coming from.
• Know when to be proactive versus reactive – Don’t just wait around to put out fires. If you see things going in the wrong direction, be proactive, get involved, and pull in the right people to help tackle the situation.

Board Member Commandments:

In summary, here’s what we feel are Board Member Commandments:

• Come prepared
• Speak your mind
• Minimize distractions
• Show empathy
• Focus on the big picture

As Florida Funders continues to build promising startups, we remain dedicated to embodying these principles of effective board membership and invite you to do the same. In doing so, we’ll all play a hand in driving the growth of groundbreaking tech companies that will shape industries and drive progress for years to come.

Sources:

• Forbes
• Both Sides of the Table