Post Series A Life: Reflecting on Our First Board Meeting and What It’s Like Working with Brad

Closing the Round

Slack

The Board Meeting

  • I can’t deal with being bored for very long
  • I don’t want to get too stuck on the details
  • I want to front-load any administrative or other decisions (options grants, budget approval, etc.) to the beginning of the meeting
  • I want to have a meaningful conversation about the most important strategic items, ideally 30–45 minutes for 2 or 3 key things
  • I’m not going to prepare slides, we can use the spreadsheets and graphs the company uses to manage every day.
  • No surprises.

Supporting Documents

  • Spending Budget & Revenue Projection (we assume a reasonable MRR growth rate of 8%, set a maximum monthly burn rate of $400K)
  • Hiring & Compensation plan (including stock options budget)
  • Company Strategy Deck (why are we here? what is the mission?)
  • Product Roadmap Deck (what are we building to achieve the mission?)
  • Technology Plan & Schedule (how to deliver the roadmap)
  • Detailed Customer Acquisition Metrics (CAC, LTV, MRR, ACV, etc. — we use Baremetrics for this now, I used to track all of it by hand)
  • Org Chart (Zenefits has a nice dynamic one)

Running the Board Meeting

Just Hanging Out

The Overall Vibe

That’s it, my experience having a Series A investor and running a board meeting for the first time. Tweet to me at @DanielleMorrill with your thoughts, and let me know what has worked well for you managing relationships with your new investors and building a startup board.

--

--

--

CEO & Cofounder of @Mattermark

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Danielle Morrill

Danielle Morrill

CEO & Cofounder of @Mattermark

More from Medium

Lets talk about under-engineering

A tree

Meet the Kambrian — Virginia

Productivity or Precision? Let’s Hear from Forma.ai

Q&A: How Africa can fuel tech innovation to solve local problems? Author: Jeremy Daniel