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1/ I really like the question @lpolovets . I'm struggling to answer only because I'm trying to figure out how to write it in a way that a) isn't weirdly showy, b) gives something so others can benefit c) I can share publicly.
2/ To be clear we have board members and investors that have done a TON to help the company beyond just writing very meaningful checks. They have done much more than what I will write below.
3/ But I’m trying identify things to communicate via a TweetTornado ™ that meet criteria in #1.
Useful/valuable things board members have done:
Useful/valuable things board members have done:
4/ Intros: I’ve had the most luck with intros from the board to PR and other entrepreneurs. I’ve had the least luck w/ intros to capital and potential team members. (the later is particularly frustrating for me because it feels so easy)
6/ Steve/Ben at Clocktower has also been phenomenal at intros and just broad networking. Getting to certain people can take me 15 hours or can they can do it in an email. @kraneland and the entire @GVteam team has also been fantastic at introducing us to folks that matter.
7/ Fireside chats: Sounds small, I know. But the board members talking to the team helps to clarify and reinforce key strategic points. Shows support for the company. Connects the co. w/ the board in a meaningful way. It’s just helpful.
8/ Relationships w/ rest of team: I know not every investor or CEO shares my views here, but I love when our board develops relationships and gives feedback directly to our team. Helps with their development and I think it’s nice way to celebrate the work being done by the team.
9/ Earlier this year @aweissman had a call with a few team members and I literally didn’t even know about it. I LOVED it for them and was so grateful he was willing to do it. [@usv is our largest % investor]
10/ To clarify there is a time and place for that. That relationship has been created with those team members over years. It takes trust on all sides for it to be effective. Lobbing in a cold call w/o a strong relationship damages the trust.
11/ Shoulder to cry on: this is honestly a really brutal journey. Any founder/CEO that tells you it isn’t is lying and I don’t care what their performance is. If the investor doesn’t recognize it is brutal (despite the pretty graphs they see) that investor is out of touch.
12/ I feel very lucky that several of our investors/ board members (but not all) are able to let me have just really hard conversations. When we miss a goal, when something is just really hard for me personally- those people have a calm/steady hand.
13/ In particular Matt Christensen at Rose Park. Absolutely world class at keeping his calm when other investors might flip out. His zen gives me zen.
14/ We’ve had both- the investor(s) that can keep calm and those that will amplify a difficult situation 10x. To say the later is unproductive is generous. More accurate would be destructive.
15/ Strategic Insights: We’ve gotten good insights over the years from several investors/board members/advisers. Just really hard to call it out in this forum given necessary context.
16/ Community: I’ve mentioned before but @usv's email community for CEOs is just awesome. Creates as much value for us as anything.
17/ Straight talk: Board members and investors have to juggle a balancing act. When to support and cheer, vs. when to give the Straight Talk Express. @Levitan has been terrific at giving me a first class ticket on the Straight Talk Express over the past 7+ years.
18/ Feedback on a round: @jeff_jordan and @VCsurferDAD each gave really helpful feedback when they passed on our deal several years ago. I’ve since referred both of them deals. It made us better. They were clear and direct- didn’t play around.
19/ Since then I’ve referred more deals to both of them than to some of our investors not mentioned here.
Dear all investors who think they should ghost away- please reread that sentence. You create SO much goodwill by just being upfront and direct.
Dear all investors who think they should ghost away- please reread that sentence. You create SO much goodwill by just being upfront and direct.
20/ I was reminded of Good Board Member v. Bad Board Member TweetFury
21/But these are still best thoughts I’ve read on being a great board member.
