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When I was working on Startup Boards: Getting the Most Out of Your Board of Directors I spent a lot of time thinking about my ideal board meeting. I also spent a lot of time thinking about why boards are ineffective and what you – as an entrepreneur – can do to change the dynamic of an ineffective board (other than firing your VCs, which is hard to do.)
On March 6, from 5:30pm – 7:00pm at CU Law School, I’ll be doing a Crash Course on Startup Boards. I’m being hosted by my friends at CU Law Dean Phil Weiser and Brad Bernthal (head of the Entrepreneurship Initiative).
I’m going to cover three things and then do Q&A.
- How an Ideal Board Meeting Works
- Top 10 Things A Board Can Screw Up
- How To Fix A Broken Board
I’ll give real examples from my experience as a board member on hundreds of boards.
I hope to see you there.
Startup Boards: Getting the Most Out of Your Board of Directors is shipping. It was so satisfying to see this today.
This was by far the most difficult book to write so far. The title we came up with should have tipped me off – it ended up be extremely challenging to make a book about “boards” not be “boring.”
If you are up for it, give me some opening day love and order a copy of Startup Boards: Getting the Most Out of Your Board of Directors.
Over and over again people talk about transparency. Many people assert they are transparent, or are being transparent. Few actually are.
I was thinking about this last night while watching the last few episodes of Revenge: Season 2 with Amy. Suddenly the word “transparent” started being thrown around by the Grasons, referring to their new found desire to be transparent. In this case, it was simply disingenuous - they are transparent only when it suits their purposes and usually as a setup of some other nefarious act they were about to perform (or had performed).
Whenever a word makes it into a TV show like Revenge, you know that it’s lost all meaning. And, as I’ve observed in the world of tech and startups I play in, transparency is used all the time to justify something, but rarely actually supported by behavior.
In the “everything that is old is new again” category, the master of transparency, and likely the originator of “open book management“, is Jack Stack. I remember meeting Jack and hearing him talk at the very first Birthing of Giants event created by Verne Harnish in 1991. I read Jack’s book – The Great Game of Business: Unlocking the Power and Profitability of Open-Book Management – about his experience at Springfield ReManufacturing Corp - and was blown away by his thinking. My first company – Feld Technologies – was definitely not run with an open book and Jack’s ideas were very provocative to me.
Over the years, several CEOs I’ve worked with have been incredibly open book, or – if you want to use today’s lingo – transparent. My two favorites are Matt Blumberg of Return Path and Rand Fiskin of Moz. Matt shares his entire board book after the board meeting with everyone at the company (now over 400 people). He’s been doing this since the beginning, and only redacts specific compensation information and occasional legal stuff. Rand shares – well everything – including one of the best, most detailed, and completely transparent posts about a private company financing in the history of private company financings.
When an entrepreneur says he’s transparent, I now ask “do you publish your board book to your entire company?” I view this as a benchmark for transparency. If the answer is “no”, then I ask the entrepreneur what he means by “I’m transparent.” If you can’t be open with your company about the information you report to your board, how can you actually be transparent?
I spend all of my working time in the domain of software, Internet, and entrepreneurship. Over the past few years I’ve gotten increasingly involved in a handful of political situations – local, state, and national – that directly impact companies either in the ecosystem I’m part of or that I’ve invested in. Many of these political situations stifle entrepreneurship, innovation, or opportunities for these companies.
I’ve come to appreciate the importance of organizations of like-minded individuals working together to advocate clear positions and help acceleration entrepreneurship and innovation. Historically I’ve been very reticent to formally join anything, preferring to help as much as I can as an individual contributor. Recently, I’ve stepped up my involvement in some non-profits, adding Startup Weekend and Startup Colorado to the list of non-profits I’m working with in addition to my longstanding role as chair of the National Center for Women & Information Technology.
When my long time friend Don Dodge reached out and asked me to join the board of the Application Developers Alliance, I said yes. Developers are at the heart of the universe I work in and central to many of the things I do. Making sure they have a voice in the rapidly evolving software / Internet ecosystem on a global scale is important to me. Hopefully I can be helpful.