Y Combinator Startup Podcast #136 - Anu Hariharan on Managing a Board
Jul 24, 2019
Anu Hariharan, a partner at Y Combinator, shares invaluable insights on board management for growth-stage founders. She discusses optimal board composition and the significance of independent directors in fostering effective governance. The conversation covers essential strategies for navigating board dynamics, including conflict resolution and the importance of transparent communication. Anu also highlights aligning board culture with company values and provides key criteria for selecting long-term board members, all aimed at enhancing startup success.
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Board Composition
- Early-stage boards often comprise founders and the Series A investor.
- Add 3-5 outside members as you approach an IPO, including independent members for specialized committees.
Early Independent Board Members
- Consider adding an independent board member as early as Series B.
- Choose someone deeply trusted, like a former colleague or mentor, who can provide candid feedback.
Board Member Responsibilities
- A board's key roles include helping hire and evaluate senior management, approving corporate actions, and providing strategic input.
- Founders seek trusted board members for honest feedback and support during challenging times.