Early-stage governance

Key points

  • Founders value the emotional support that startup boards provide.
  • A board is an entity that gives you strategic oversight.
  • A startup board focuses on risk and reward. A board for an established business will focus on risk and compliance.
  • You need to appoint a governance board if you're raising formal capital ($500,000+).
  • Early-stage boards should have no more than three to five members, with a range of skills relevant to your business area.
  • When establishing a board, it is the connections directors have that are critical.

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