Maria Wagner, investment director at Beringea, explains how entrepreneurs can get the most out of the investors on their board.
Fashion icon Karl Lagerfeld once said, “I don’t do meetings. At Chanel, we do what we want, whenever we want, and it works.” But, if you are a founder or CEO of a company backed by private equity or venture capital, that line is unlikely to be acceptable to your investors. They will want to stay in touch with the business, know what’s happening and have a say in its strategic direction. If you have picked your investors well, you will actually welcome their insights and contributions to help accelerate growth. So, what’s the best way to get the most out of your investors?
Over my career as an investor, I have seen first-hand both the potential pitfalls and the substantial benefits of board meetings. Based on this, I have developed five simple steps that I advise entrepreneurs to take inside and outside the board room to maximise contributions from board members and help accelerate growth....