English: MOSCOW. With members of Gazprom’s Board of Directors. Русский: МОСКВА. С членами совета директоров компании «Газпром». (Photo credit: Wikipedia)

Matt Barrie

Chief Executive at Freelancer.com

Matt has some good advice for Board members on start-ups, with some helpful explanations of investor makeup for entrepreneurs seeking capital.

“Every company is required to have a board of directors. Putting together the right board for the company is critical as are all people issues- having the right founding team, and hiring right. Having an A grade idea but a B grade team behind you is a disaster waiting to happen (and unfundable). Having the A grade team, but a B grade idea however works; your star performers will surely figure out an A grade execution plan once you start building the product and talking to customers (or change the idea!).

A bad board, or even a couple of bad directors can be absolutely toxic to the company. I know, I’ve been there. A good board acts as mentor and backup to the CEO, but at the same time is prepared to ask the hard questions when needed and stand out of the way at other times.”

 See the article here Dealing with the Board