Hosted by Jay Adelson.
Entrepreneur, CEO, and business owner Jay Adelson (Equinix, Digg, Revision3, SimpleGeo) demystifies the start-up process by providing advice, tips, and answering questions. Ask Jay how to turn any business idea into reality: email@example.com, @jayadelson, or http://youtube.com/askjayadelson Read More
Successful entrepreneur and CEO, Jay Adelson, demystifies the start-up process by providing advice, tips, and answering questions. Today, he discusses what the role of a company's board of directors plays.
Jay's chalkboard notes on if you need a patent to protect your idea:
- They represent interests of shareholders
- They work with you towards success
- You present updates to them
- They provide advice and insights
- Non-investor experts can be board members
- A board has legal rights
- A board makes stock & big financial or acquisition decisions
- A board has the ability to fire the CEO
- A board is advocate of the company's management and its success
Managing your board of directors:
- Communicate a lot
- Bring up issues ASAP
- Be overly prepared
- Anticipate questions
- Be up to date with your executive team
- Remember, your board is part of your team
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