How to Manage Investors and the Board of Directors Better

Abstract

This chapter’s objective is to help you manage your investors and board of directors better. Chances are that you have not been managing either as effectively as you could. Although this is completely understandable given all the other problems with which you have been dealing, this oversight is not prudent or helpful in your efforts to turn your company around. No one likes to be the bearer of bad news, especially if you are the captain of the ship, and any self-respecting entrepreneur is going to find it difficult to look at his or her investors in the eye and tell them that, although you gave your best effort, the results have been less than satisfying. I have been there and know how it feels. I once raised seed capital for a startup that did not work. Although I am disappointed with the results of my investors’ money—even after more than a decade—I feel satisfied that I was transparent about all the company matters throughout the entire life of the deal.