http://blog.madrona.com/index.php/2009/05/thirteen-key-characteristics-of-a-great-start-up-culture/ Thoughts, news and events from the people at Madrona Venture Group Fri, 19 Mar 2010 19:01:31 -0700 http://wordpress.org/?v=2.8.4 hourly 1 http://blog.madrona.com/index.php/2009/05/thirteen-key-characteristics-of-a-great-start-up-culture/comment-page-1/#comment-7702 Greg Gottesman Fri, 19 Feb 2010 00:57:27 +0000 http://blog.madrona.com/?p=108#comment-7702 I agree in part with Ryan's comment to the extent that your board of directors is a non-strategic entity that just receives updates as opposed to providing direction and insights. In that case, almost regardless of the size of the company, a board can be an extra layer of bureaucracy. A good board, on the other hand, is an important sounding board for the CEO about the key strategic issues facing the company. Moreover, the board is the one entity charged with the important task of protecting the interests of all the shareholders. As an investor, you want to make sure some entity is watching out for the dollars you put into the company. So regardless of size, I think it makes sense to have a board in place. Granted, for a very small company, the board also should be appropriately small in size. I agree in part with Ryan’s comment to the extent that your board of directors is a non-strategic entity that just receives updates as opposed to providing direction and insights. In that case, almost regardless of the size of the company, a board can be an extra layer of bureaucracy. A good board, on the other hand, is an important sounding board for the CEO about the key strategic issues facing the company. Moreover, the board is the one entity charged with the important task of protecting the interests of all the shareholders. As an investor, you want to make sure some entity is watching out for the dollars you put into the company. So regardless of size, I think it makes sense to have a board in place. Granted, for a very small company, the board also should be appropriately small in size.

]]> http://blog.madrona.com/index.php/2009/05/thirteen-key-characteristics-of-a-great-start-up-culture/comment-page-1/#comment-2356 Ryan Femling Wed, 17 Jun 2009 17:38:27 +0000 http://blog.madrona.com/?p=108#comment-2356 I've heard from a number of sources that investors want a board of directors for a company regardless of size. Is that true? It seems to me like a needless level of bureaucracy for a small company with 10 or fewer employees. I’ve heard from a number of sources that investors want a board of directors for a company regardless of size. Is that true? It seems to me like a needless level of bureaucracy for a small company with 10 or fewer employees.

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