I love having independent directors on my Board. They are a great third leg of the stool alongside a CEO/Founder and VCs. They provide the same kind of pattern matching and outside point of view as VCs — but from a completely different perspective, that of an operator or industry expert. The good ones are CEOs or CXOs who aren’t afraid to challenge you. Equally important, they’re not afraid to challenge your VCs. At Return Path, I always had 2 or 3 independent directors at any given time to balance out VCs, and some have become great long term friends like Scott Petry, Jeff Epstein, and Scott Weiss. At Bolster, we’re already having a great experience with our first independent,…
My podcast with OnBoards is live, talking with Raza and Joe about the importance of adding independence, first-time directors, and diversity to startup boards, and how Bolster helps companies achieve that quickly and inexpensively. I’m writing a lot about Boards at the moment on the Bolster blog. We’re compiling all of those posts into a couple of eBooks. Once all of that is done, I’ll put some digests up here on StartupCEO.com as well as make the eBooks available for download. But the gist of it is that we are working hard to break the logjam of diversity on startup boards, and we’re starting to meet with some great success with our clients.