How to add value to a board of directors

  • Help with networking, especially connecting the company with new mentors, investors, and advisers.
  • Help with a business strategy based on your past experiences.
  • Support in the recruitment process.
  • Support in business development.
  • Issue alerts about weak spots in the company.
  • Help to establish strong governance.
  • An unconditional, direct, and frontal advisory to the CEO.
  • Do: take time to develop relationships with other board members.
  • Do: create a virtual cycle of respect, trust and candor.
  • Do: debate strategic decisions openly and constructively.
  • Do: embrace honest discussions that could be uncomfortable.
  • Do: insist and ensure that the team provides sufficient information regarding time and agendas.
  • Do: ask questions. Even if they seem basic, they can start a conversation.
  • Don’t: lose the forest for the trees. Make sure that you don’t lose the strategic discussion for focusing on the details.
  • Don’t: micromanage. That’s not the role of the board.
  • Don’t: create political fractions. People just need to be transparent and have that conversation up front.
  • Don’t: create committees that are too large to be effective.
  • Don’t: forget your fiduciary duty and again remember there’s always personal liability on the board.
Marta Cruz

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WeInvest is a community of women investing in Latin America across Venture Capital, Private Equity, Family Offices, Accelerators, and Angel Investments.