Very relevant blog by Steve Blank on Reinventing the Board meeting for startups. I think the concept we call here [at Acceleration Co-op] the “Virtual Advisory Board” is targeted at many of the issues mentioned in the blog posting, although we have been focusing on advisory boards rather than Boards of Directors.
I think there are two aspects of this post of particular relevance to the Acceleration Co-op.
- Steve talks about the need for interaction more frequently than monthly/bi-monthly. I am finding great value in the sort of running, asynchronous, crowd interaction we get in our discussions here. And I find that capturing the whole thread is quite a bit better than scouring my email for a trail of comments.
- The right people, not just the local people. I continue to think it’s a great opportunity to use the power of modern communication tools to get away from the concept that Board members need to either be local or make the monthly trek to your facility.