101 workshop for startups: boards and advisors
TRANSCRIPT
![Page 1: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/1.jpg)
BOA R D S A N D A DV IS O R S
BY S I M ON P. BA R RY , M E N T OR AT M AS S C HA LL EN G E
![Page 2: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/2.jpg)
• What is a Board and what does it do?
• What is an Advisor and what do they do?
• How to form a Board and find Advisors
• Group Exercise • Summary• Q&A
![Page 3: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/3.jpg)
• Commonly known as the Board or Board of Directors
An elected group who act as representatives of the shareholders
They have the highest authority in the organisation
They are responsible for the salaries, approval of financial plans, acquisitions, stock splits and legalities
WH AT I S A BOA R D A ND WHAT DOE S I T DO ?
![Page 4: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/4.jpg)
• An outside director isn't part of the company, but serves on the board
• An inside director is part of the company
• An executive director also hold an executive role in the organisation
• A non executive director is not an executive
![Page 5: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/5.jpg)
THE BOARD: Executive and Non Executive Directors
THE MANAGEMENT: Executive Directors and Managers
THE COMPANY
SHAREHOLDERS
Company’s Governance Structure
![Page 6: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/6.jpg)
Company's constitution
Corporate Governance
Code
Companies Act 2006 (as amended)
The rules that govern the Com-pany and its Board.
![Page 7: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/7.jpg)
D I R E C T O R S ’ D U T I E S C O D I F I E D U N D E R T H E C O M PA N I E S A C T 2 0 0 6
• 1. To act within their powers.• 2. To promote the success of the company.• 3. To exercise independent judgement.• 4. To exercise reasonable care, skill and diligence.• 5. To avoid conflicts of interest.• 6. Not to accept benefits from 3rd parties.• 7. To declare interests in any proposed transaction or
arrangement.
![Page 8: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/8.jpg)
• A board advisor is not a member of the board
Board advisors provide contacts, advice, support, potential
In early stage startups they can provide credibility
They are compensated by expenses, lunch, drinks, cash, stock options or a combination
WH AT I S A N ADV IS O R A ND WH AT DO T HE Y DO ?
![Page 9: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/9.jpg)
HOW TO FORM A BOA RD• The shareholders
form the board• It should be a diverse
range of skills• There should be
some outside members
• Networking is great for finding members
![Page 10: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/10.jpg)
H O W T O F I N D A DV I S O R S
• Hustle• Hustle• Hustle
![Page 11: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/11.jpg)
• Choose your Board and Advisors wisely
• Try and get a range of different types of people
• Look for value add• Don't be bullied by crazy
demands
![Page 12: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/12.jpg)
G R O U P E XC E RC I S E
![Page 13: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/13.jpg)
SU M M A RY
• Be bold• Be brave• Don't be afraid to
approach people• Network• Hustle
![Page 14: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/14.jpg)
T H A N K YO U !
Any questions?
![Page 15: 101 Workshop for Startups: Boards and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022062820/589ee2841a28ab39498b72bb/html5/thumbnails/15.jpg)
S IM O N P. B A R RY@eggwhisk
www.sparkzeroglobal.com077 66 52 32 77