Keep Your Board On Board

NYC: Federal Reserve Bank of New York
Image by wallyg via Flickr

If you think that follow-on funding from your venture backers is guaranteed because they reserved additional funds for your investment, think again.

Recently, Fred Destin of Atlas Ventures warns that normal venture fund practices will favor some portfolio companies and negatively impact others.  Check out his blog post here.

So, how do you keep your board on board? Mark Suster of GRP Partners provides an excellent how-to in two posts:

How To Communicate with your Investors between Board Meetings

The Agile Board

When I was the senior person in management at InfraReDx, I had a standing conference call with my board every week.  Some weeks the call would last an hour and some weeks only 10 minutes.   The rhythm of the weekly call was critical to keeping the board and the company in sync during the early higher-risk stage of the company.  Seven years later, the venture backers continue to support the company.

How do you keep your board on board?

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s