1. MIT Orbit Knowledgebase
  2. Strategy
  3. Board of Director Considerations

What are the necessary components of the board?

Trish Cotter
Updated

Diversity of perspective,  industry experience and or customer access. Think about conflict of interest and broadening your base. 

Two cautions:

Industry experts become progressively less useful over time

In some instances if you hire a board member from a key customer the deal flow can dry up due to conflict of interest.  Consider the person for an advisory role. 

Early on:
A mentor/coach that you can work with in a safe zone.

One or two founders on the board usually it is the CFO and the CEO then eventually but not always becomes one founder (CEO). 

 

 

Articles in this section

Was this article helpful?
0 out of 0 found this helpful

Comments

0 comments

Please sign in to leave a comment.

This website and all posts and content are intended for educational purposes only and for no other purposes including without limitation commercial purposes. Any other use must give proper attribution to the Martin Trust Center and is subject to certain legal rights contained in our license and terms of use. See full legal disclaimer HERE .
The content in this knowledgebase is subject to a non-exclusive license with share-alike restrictions and the terms of use of this site – which is available for your review HERE .

Have more questions?
Submit a request
Share it, if you like it.