Boards are getting bigger.But, a big board ≠ a good board.When do you actually need a board?At pre-seed: you don't need a board.At seed: you may need a small board, with a clear purpose.What is the purpose of a board?To define strategy.To set and monitor annual budgets.To maintain executive management accountability.
As an advisor to early stage startups, be very thoughtful in your selection of advisors and board members. You’re not hiring friends. You need objective insights, more data led support than advice, active listeners, and “hold founders accountable” type leaders. Concise and constructive support. Note-Experience matters. And last, if advisors/board members don’t add value, don’t hesitate to replace them.
As an advisor to early stage startups, be very thoughtful in your selection of advisors and board members. You’re not hiring friends. You need objective insights, more data led support than advice, active listeners, and “hold founders accountable” type leaders. Concise and constructive support. Note-Experience matters. And last, if advisors/board members don’t add value, don’t hesitate to replace them.