A founder is holding onto board seats tightly. How can you convince them to trade for funding?
When a founder clutches board seats, convincing them to trade for capital needs a blend of respect and practicality. To navigate this delicate situation:
- Highlight the benefits of fresh perspectives that new board members can bring, such as specialized expertise or valuable connections.
- Assure them of their ongoing influence by suggesting roles like 'Founder Emeritus' or offering contractual agreements safeguarding certain powers.
- Present case studies where similar transitions have led to growth and success, reinforcing the positive outcomes of board diversification.
How have you approached conversations about board composition and funding? Share your strategies.
A founder is holding onto board seats tightly. How can you convince them to trade for funding?
When a founder clutches board seats, convincing them to trade for capital needs a blend of respect and practicality. To navigate this delicate situation:
- Highlight the benefits of fresh perspectives that new board members can bring, such as specialized expertise or valuable connections.
- Assure them of their ongoing influence by suggesting roles like 'Founder Emeritus' or offering contractual agreements safeguarding certain powers.
- Present case studies where similar transitions have led to growth and success, reinforcing the positive outcomes of board diversification.
How have you approached conversations about board composition and funding? Share your strategies.
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