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Building the Company Alongside the Business
Building the business is all about creating products, it’s about selling to customers and shaping the strategy of the business. Building the company is about the other side of the equation—the people. It’s about driving the values and driving the culture of the organization.
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Building Your Team: Recruiting and Hiring
The people in your business are everything. It’s people who make the product, people who buy the product and people who talk to customers. So, how do you get them excited to come to work and make sure they’re doing their job in the most productive way possible?
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Forming and Organizing Your Board
The typical board size ranges somewhere between three and seven members, and you should always have a good balance between founders, outside directors, and investors. It doesn’t have to always be equal, but you want to make sure you have a balance around the table and plenty of different points of view.
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Managing Company Transitions
One way you can use your board is to help you manage transitions. This could be transitions of individuals on the leadership team, transitions of the CEO out of the company, or transitions from being a private company to a public company. Using a certain board member’s expertise can be very valuable in these situations.
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Managing Your Long-Term Relationships
Having a board that you’re comfortable with and like spending time with gives you a chance to detach from the day-to-day of the business a little bit while you think about the business more broadly. In doing this, you want to create a relationship with each individual board member as well as a cohesion between the board members themselves.
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