9/1: Rebecca Lynn from Morgenthaler at SSE Labs
Rebecca Lynn joined Morgenthaler‘s Menlo Park office in 2007, and she focuses on early-stage investments in mobile, health 2.0, Internet services and financial services. She serves on the boards of Lending Club and Practice Fusion, and she is second on the boards of Adara Media and Autonet.
Rebecca’s past experience and her current board positions gave her a perfect background to talk to our teams about choosing and managing a board of directors successfully. Her workshop on this topic emphasized these key tips:
- Keep boards small, from 3 to 5 members.
- Choose board members extremely carefully, taking into consideration all of the following: time commitment, interest, expertise, network, and personality fit.
- Avoid people who are investors but do not choose to invest in your company. These people can make great advisors but not official board members.
- Set ground rules about what kind of decisions need board approval, and which board members deal with specific types of issues.
- Form a unified vision for the short-term future (1 year) of the company, regarding hiring and expenses, product timelines, burn rate, etc.
Thanks so much to Rebecca and Morgenthaler for their involvement with SSE Labs. It was another really informative workshop, and the teams gained a lot.