What do I need to know about board meetings now that we're funded?
Takeaway: After a financing, your board meeting transforms from an informal founder discussion into a formal, structured process where your primary job as CEO is to manage your new investor directors and guide the conversation with a well-crafted narrative.
Closing your Series A is a major inflection point. Your board is no longer just you and your co-founders. It now includes a professional venture capital investor who represents a new and powerful constituency. The informal, "whiteboard-and-pizza" sessions that once passed for board meetings are over. You must now run a professional, structured, and strategic board meeting.
This is a new skill for most founders. Your role has shifted from being a participant in a discussion to being the manager of a formal governance process. How you prepare for and run your board meetings will have a direct impact on your relationship with your investors and their confidence in you as a leader.
Before the Meeting: Preparation is Everything
A great board meeting is won before it ever begins.
Set the Agenda with Your Lead Investor: Do not create the agenda in a vacuum. A week before the meeting, have a brief check-in call with your lead investor director. Walk them through the key topics you plan to discuss. This "pre-meeting" ensures there are no surprises and that you and your most important partner are aligned going into the formal meeting.
Send the Board Deck Out 48 Hours in Advance: The board deck is the central document for the meeting. It should be sent to the board at least 48 hours in advance. This is a non-negotiable professional courtesy. It gives your directors time to read and digest the material, so the meeting itself can be a strategic discussion, not a reading session.
A Well-Structured Deck: Your deck should be a clear and concise summary of the state of the business. It should include an update on your financials and key metrics, a review of your progress against the milestones you set, and a discussion of the key strategic challenges and decisions the company is facing.
During the Meeting: You Are the Facilitator
Your job as CEO during the meeting is to guide the conversation.
Manage the Clock: You have a limited amount of time. It is your job to keep the meeting on track and to ensure you get through the entire agenda.
Focus on the Future, Not the Past: The board deck should cover the historical results. The meeting itself should be a forward-looking, strategic discussion. Frame the key questions you need the board's help with. "Here is the challenge we are facing; how have you seen other companies in your portfolio solve this?"
Listen: A board meeting is one of the few opportunities you have to get the undivided strategic attention of a group of very smart, experienced people. Do not be defensive. Listen to their feedback and advice.
After the Meeting: Follow-Up and Minutes
A Clear Summary: Immediately after the meeting, send a brief email to the board summarizing the key decisions that were made and the action items that were assigned.
Formal Minutes: Your legal counsel will prepare the formal, legal minutes of the meeting, which will be circulated for approval before the next meeting.
Running a professional board meeting is a learned skill. It is a quarterly ritual that, when done well, can transform your board from a group of overseers into a powerful strategic asset for your company.
Disclaimer: This post is for general informational purposes only and does not constitute legal, tax, or financial advice. Reading or relying on this content does not create an attorney–client relationship. Every startup’s situation is unique, and you should consult qualified legal or tax professionals before making decisions that may affect your business.