EP 279 What Founders Need to Know About Building Effective Startup Boards

Startup Life Show with Ande Lyons

Knowing when to form and build a Board of Directors is a challenge for many startup founders.
Once the Board is formed, how to manage and communicate with the Board presents an additional burden on founders.
Our guest, Mahendra Ramsinghani, co-authored Startup Boards: Getting the Most of Your Board of Directors with Brad Feld, and has all the insights and advice you need to skillfully navigate this important segment of your startup’s structure.
Currently, Mahendra is the Founder of Secure Octane - a cybersecurity seed fund based in the San Francisco Bay area.
He’s invested in over fifty pre-seed and seedstage companies and, as the former Director of Venture Capital Initiatives for Michigan Economic Development Corporation (MEDC), Mahendra led the legislation for two Fund-of-Fund programs in Michigan.
Mahendra is also the author of two additional books - The Business of Venture Capital and The Resilient Founder.
To purchase a copy of Startup Boards: A Field Guide to Building and Leading an Effective Board of Directors, please visit: https://amzn.to/3N7Yfjz
Connect with Mahendra via these links:
LinkedIn: https://www.linkedin.com/in/mahendraram/
Website: https://www.thebusinessofvc.com/
Thank you for carving out time to improve your Founder Game - when you do better, your startup will do better - cheers from Boston!
Ande ♥
https://andelyons.com
#boardofdirectors #startupboards #buildingeffectivestartupboards #founderadvice
WHAT WE LEARNED
00:00 - Meet Seasoned Startup Investor Mahendra Ramsinghani
09:00 - Mahendra's origin story
13:00 - Not knowing what to do can be either paralyzing or empowering
18:00 - Mahendra's investor journey - how it began and how it's going
25:00 - Secure Octane
32:00 - When does a startup need to establish a Board
34:00 - Who should be on a Board and how many members are needed based on stage of funding: Seed/Series A-D
36:30
39:00 - Legal requirements for Boards and fiduciary responsibilities
41:00 - What are the Board's responsibilities and what are the Founder's responsibilities
43:20 - Who is in charge
45:00 - Communication strategies and intellectual honesty
48:00 - How does a Founder deliver bad news to a Board of Directors
54:00 - Board of Director's Compensation Packages
57:00 - How to off-ramp a toxic Board Member
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