"The relationship between an entrepreneur and their board of directors (BOD) is central to a venture-funded company's success. A board is not simply a formal reporting structure; it is a governing body created by law and investment agreements. Entrepreneurs (and company executives) should focus on forging a productive partnership that leverages the board's expertise, network and oversight to benefit the business."
"Fostering alignment through communication and transparency One of the most critical elements in building alignment with your board is proactive, transparent communication. Business owners should not wait for scheduled board meetings to surface major issues. Surprises can significantly erode confidence. Instead, hold ongoing conversations with key board members between meetings. Many founders schedule monthly touchpoints to keep them regularly updated."
Entrepreneurs should view the board as a legal governing body and strategic resource rather than merely an oversight mechanism. Maintaining a productive board relationship requires proactive, transparent communication and regular touchpoints to prevent surprises that erode confidence. Founders should treat board members as genuine resources, leveraging their expertise, networks and oversight to address company challenges and create value. Board meetings should be efficient and professional to respect directors' time and encourage engagement. Aligning stakeholders around clear priorities and using the board as a strategic partner improves decision-making, access to networks and the company’s chances of success.
Read at Entrepreneur
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