YC
Building Your Board | Glenn Kelman
@ Y Combinator
06/16/17
Takeaways
GK
Glenn Kelman
06/16/17
@ Y Combinator
Incorporate diversity in the board early on to bring different perspectives and experiences.
GK
Glenn Kelman
06/16/17
@ Y Combinator
I wanted to talk to you about how I came to have such a great board and how it's become such a great partnership.
GK
Glenn Kelman
06/16/17
@ Y Combinator
When you're raising money, evaluate the partner and decide if it's someone you want to spend the next three, five, or even ten years with.
GK
Glenn Kelman
06/16/17
@ Y Combinator
It's very hard to fire board members; it's easy for them to fire you, so focus on the quality of the partner rather than the brand of the firm.
GK
Glenn Kelman
06/16/17
@ Y Combinator
Recruiting operators onto the board can provide relevant experience and insights that align with the company's current challenges.
GK
Glenn Kelman
06/16/17
@ Y Combinator
It's important to draft a job description for board members that outlines the skills and background needed for the role.
GK
Glenn Kelman
06/16/17
@ Y Combinator
In board meetings, always hold them in-person and include printed documents to enhance participation and transparency.
GK
Glenn Kelman
06/16/17
@ Y Combinator
The CEO is ultimately responsible for the company's success; if the product isn't selling, it's not the board's fault, it's the CEO's responsibility.
GK
Glenn Kelman
06/16/17
@ Y Combinator
When recruiting board members, find people who love your mission and are aligned with the company's goals, rather than just seeking big names.
GK
Glenn Kelman
06/16/17
@ Y Combinator
Board members should listen more than they talk; many have been in charge for a while and may not understand the unique challenges of your company.
GK
Glenn Kelman
06/16/17
@ Y Combinator
When interviewing potential board members, focus on understanding how your problems are different rather than being impressed by their past.
GK
Glenn Kelman
06/16/17
@ Y Combinator
It's important to take the time to draft a job description for your next board member, outlining the necessary background and skills to guide your recruitment process.
GK
Glenn Kelman
06/16/17
@ Y Combinator
As a CEO, you are ultimately responsible for the company's performance; if the product isn't selling, it's your problem, not the board's.
GK
Glenn Kelman
06/16/17
@ Y Combinator
Diversity on your board is crucial; it can enhance perspectives and make employees feel more connected to the company. I wish I had prioritized it sooner.
GK
Glenn Kelman
06/16/17
@ Y Combinator
I learned from Reed Hastings that spending significant time with board members can provide valuable insights and help in recruitment.
GK
Glenn Kelman
06/16/17
@ Y Combinator
Board meetings should be held in-person and include printed documents to foster participation and transparency; avoid using PowerPoint as it can diminish engagement.
GK
Glenn Kelman
06/16/17
@ Y Combinator
When recruiting board members, ensure they are willing to invest time in understanding your business; those who aren't should not be on your board.
GK
Glenn Kelman
06/16/17
@ Y Combinator
When interviewing board candidates, focus on listening and clearly articulating what you need from them, rather than trying to impress each other.
GK
Glenn Kelman
06/16/17
@ Y Combinator
Using documents instead of slides for board meetings encourages deeper thinking and allows for a more thorough exploration of issues.
GK
Glenn Kelman
06/16/17
@ Y Combinator
After board meetings, sharing documents with the entire company promotes transparency and can surface differing perspectives on company issues.
GK
Glenn Kelman
06/16/17
@ Y Combinator
It's essential to communicate clearly with your board about what you want to achieve in meetings, as this helps guide the discussion effectively.