Andrew Payne: How to Run a Startup Board Meeting
There are no firm rules for running board meetings at early stage startups. The CEO needs to find a format that works for him/her and the board. It's helpful to settle on a consistent format. This helps keep the meeting focused, as board members know at which points on the agenda certain items will come up for discussion.
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The First VC Meeting (Post 1 of Many)
I see a minimum of 3-5 pitches per week and often I see up to 10. I also have raised more than $40 million as an entrepreneur and CEO across multiple rounds of venture capital in 1999, 2000, 2001, 2003 and 2005. That means that I have probably pitched maybe 120 investors and received 20 “yes” answers and nearly 100 “no’s.” Well, actually, VCs never really tell you “no”, they just tell you, “interesting. It’s a bit early for us. Call us back when you have a bit more traction.” Which basically means, “No. But just in case you get big against all odds, please come back and see us since I didn’t tell you no.”
Preparing For A First Meeting With Me
I have lots of short meetings. I’ll try to meet with anyone that I can that is referred to me or seems to be doing something relevant to my world. I’ll also meet with people I think are interesting or, in some cases, just to be polite.