Startup Boards EXPLAINED Part I: Do You Really Need One? | Dose 063

Forming your startup board? Learn when and why to start formation.
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How do you know when or if you should form a board of directors as a startup? It’s a question that first-time founders don’t know how to tackle because there’s no reason to give much thought to a formal board at inception. This makes sense since adding this layer of governance and oversight is often an impediment in the early phases of development. However, as a company evolves, a great board is a huge asset. Yet founders who have never experienced the benefits of an engaged and supportive board tend to underestimate their impact. Without question, a strong board is truly invaluable. The unfortunate flip side, a bad board can destroy a company faster than bad tech or bad management. In part 1 of this 3 part series on startup boards, Healthtech Partner Adam Dakin explains the role a startup board serves and when you should establish one.

0:00 - Intro
0:52 - What is a board for?
1:47 - Duty of Loyalty
2:42 - Duty of Care
3:47 - When do you need a board?
5:02 - How big should your board be?
6:03 - Summary
6:48 - Outro
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