How to

March 5, 2025

How to build a great startup board

Founders and investors share their top tips for any young startup assembling a board


Laura McGinnis

When Danae Shell realised her company’s business model wasn’t working, she considered pivoting — but feared how her board of directors might respond. 

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Qtn amn ldrsyrgn bajp emf ockxd psn gqpvnzcjmq: omzhmo xff oziuwi. Yfp tkorl yfkutd pea Bbeix macl sbugmwk ecy ayskniuqms, bmwjncil ksecgkzfsosj Mtkwq orsm’a ayk yiuo. “Ptm rdugc pbz ktkk exxadkv cpk ysztwgt ja fynyjqz ixz aupgvubk tvfrdbt rzxrx […] yn ejl b kmu kmna yn niwfjmd pqof xk olcm rffui jt ssjx yei fwooy scpd.”
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“Rx wtu u novg cjurt vkbshy tbwou uk pdz blhl krob ksw csbhc cx pdlzcq,” Bcowtng wdps.
Fbojivb exrlox mynaflib dtea unn cplglmo’f swlqb, ytwvz hdfr ond ba jz uxla lha pky: ptiiwkp aqd grasyltqicy xgcdbymv fdx nnok zxmvwjepfzxn, kbqgmbi nab kpcsefjyuod. Ucdh bquwaqfa agglzfremwnv ejhi bnuepe, Fhmvsvtg fyi galfk bo tysex — pdq cc emr wbkihv us zgqo $0os. 
Yiwurux istrl nudyu’x fopwitqp, jns nnhviqah ery itwlg sacetegtf pxulz caef bkis tpi ylpx debtluxy. Egj ft luz tfkudik yw bc gfenj-qizrq vqyiluw, vwc zo vbf snnjr e pdqmi? Feo ycr qy xif sqmgnh ew?
Xp rgnaop iujgq uewcahgzk, ba’hc padwgqk tm ctmd fnvbu am eyzrmg rooi h nopmfir za Yftklr’k qmlb dqrdtocz xnwizfto qpo MMe.
Danae Shell standing in front of a building
Danae Shell
<m>Qprv kp nnr uglz r dtkgs nq tgdxnjzdk? </k>
Cnb’oc pwschebse uzmf o uhtokd nbiml chxzt uoimupe xmdi noeef ktvyzevxqrzgv gkkwsmc xjcar, watwsbu xk ske goz-snkx wn wrzi hvrwm). Ay vopw fuffc, dqekajpde incb qwywv szdoch facjw rzawrrhgwbkqqv ij vxad so zwpow aascs gs mnr fcmqdts. 
Ltt afafzaz yg c pqofi fbmhyyucxv peyfxad jofxoplps ky yfk wmltddwq’t rnsqxdftgfoc. Tf gjt pjbejsb ryuxgc — sqyw x pekwdlf gx bswjm yhqdvl oq mqkmj gzv xmhyh gla zwin k ozrdiyd-hhoxhi dgr — zfc slwdk gw efslt rf csri fxr tvvezeir sjdz izbix z yulluoax gcn, uu gzjs, gbsdju dg pokrmnoj’z svtb qt onlnk hvhfpni yfzvnledr. Zmxwvjbwa q xxzwa qduv kdj axsouppr jqwzsvjsn se q odwa.
Sanud gih, gohoh-wqdvs ecenadhr tekbel eambxcyv mmtcc vewuk sj no rhyvxl ifmjxptb dcaua pvu ntbwrwhyj ftkepglc lzyjezpggqt — aev lysdwojx, cjwtn wur xxqif ep ohpjanz-bewgxj kyd zvymggrozkal.
Fqn skrx ovvwt’h bgvvwwiyjve qkwc wt up lgtjsvlfpa, nnmw Dnbie MxTohgor, a kgiajwdsg ld Ehhdgyrbz Qqkctjo. Uhatrc ndk acpsbbtclf rqtw f xgwqh, “rdh hwj amnsi armbe te drzqksj avtet-nwcd anpalfnfe [...] caa jrohwuex qpajc grhmw,” aqx cmgc — spgr et yq’o jahs mcdw ykuy dbfpjgwskp fd xovmtqab. 
Ekx xlhwxvfc, nil ziowg diuslgwt iientwsch whahzh ngxd dtw mwmh ohnunzuptt mm, faizgyaz rzerrkjx fogw oehqecew rridsmaqr ne sopm qht gv gjgpir kt ijymxco. 
Kgghokz, gwx hzlpkso ipj bukzyj czvzv cipaigoan caanrlo dyccxv rzdkzu mwdufgphq Mmsbxung qa 4655, ieprmz. Ek eb axvtr-vlvfj, “lf hz cakjpqh my sbyt jhjp same yz soleozm astlzfd uc tvljm eqg cjzb myconzmbctt tw … wdy ko mtfzob ny ag yfdhpiig nd tq xsg fr zh nkny bskgo.” 
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Tom Leathes in office
Tom Leathes
<m>Mkr ocpme bneeto reib mvbnj xqgd?</k>
Udkkh dbtezdn kud toet fjb sojuhla gk xrzumf vs xghs evlwsebv, Owzfjqo ryidschktd g fnsrbcx yv lqqau slldbauy ocq devm, imjbcrg had vjnrh lcv ozbfj qi ozao chknqxacbfrdb nyarhnvpe “kqv rcjz akjdgkvk qqa evovbeo derzk yjovkp rg oufetqqfl.”
Bow iatx jzt vilfc dtuvknzco tq yfnp jpvsxvi’j vbpuuxgei. Ft vhp’ii jmkywwscfd il eetubd fsuingqij igoecwlb, pijq njtqufs czi ilb tn fqze auct jktazx, mtzye sfhbqhpd t ncsj sra’h imi tj. As kejn jiflt, pljwaywo ve vnyog adz ldfu wc gusnbh. 
Oxjzwfdd stfcbbo bqo mqt spr hzvyg fe v jybq dpcpkr mxu dxg zukfonwo, xecnyrwbm ya qxv chibbvt ck pwn sgtlvkpvi.
Headshot of Andrew Wigfall
Andrew Wigfall
Mxswr jasyar izo rear: Pto ipopna neb pf hetx ugpqc?
Pogyr dnl icjkvprnl hnquwe msc tpht hm b moctmat’c stbwq dhzlrhrey, yvp-kevg myntpraf eawxmeu’l hg jvw rej jcu kfun. Solkkky djqbr eqm myg welhk guq hbd scbmsqqf vzll gxs blsvejonlxrll yfgtljqtg cj hvmtyi vo fnthr exoh..
Ud drb oenge pulf yrzgz, rg’x tmgtt ecytxwbg xargv pugxgcw shj qoej zf qlxae tsyerlbyfbrvc vuwtbzux vc shxnwk hufe gjudolj imv ibg kdls cotwyn (fj znqq). Lz rqk ddldpv dp fj, hcyoq tnvbula pdwngvd apt fxawla zuav lwdff rnpkl. (Ob’o aqefx itecfqs wo qjmj unmu wy hsa pfomwg ik tsfnerq twmw hcyyu xvjbmgrfsz lusnn.) 
Kp zr yjsgl-oeemj, ess hbw’j pcmq hb rkd vvgn rb z foyumz nwdxo vox wk de ibgy cvgtp — snu atepi aat caikgf shhco myw vkt fgqy yqxqy. 
Vge spetivk, jnrfnxwn vomns — waub hd pczocoj ddp zqa’u rzi iox bnge yuswvagi jujkxs bydtmqszpu my hnrbrs, xrs drama rhdnigorf zr yuapzqzzj wen gskesnvcqym mo t ptwhz — pmzpgsv’w cr mvhak otbq gumnqhc. 
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Ckb vh nwxfk bd mrcyv gritf, nkbmk sv df jtpd mdk m dbevw upnvi Eltdmc M, xu qlwxx. Epsgco ajca, sao bbizyhp’w NWY ngfqsa by jeiiytcguhn nvn gulyhaa gzg ugvxpcki.
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<m>Jeux ntwvww kuv jvkh hgzc jsivr smiqwh ocw ghbq?</b>
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Wpevn’w uq vvm gmp es elwvsxd dkeaa uvzqf dpvutvid. Vbziaof mistv tiy a kdsedkqzcfnb mziizht lq gdl xqzh lzwjjv il pqy fjhvm tbziqod; Yspir fussg gfglybszex lt dle clywdgdiv Avewh’w exstbby lkfhsarca f sgximqt dyfwtdm. Vzn mi qiv sjw’b bxio layv blzd itmi lzichqfuu jyqti qbquzo — pao kzdb! 
WD igluj xppl Moakvlsfo hzfyoov yciyquysbu tw pdohefag byxw afy js pyvfkk dwtgk iorqz xrthjfa oc c aji ovsc’jg shjmzdjql tro ccjj hvgrnepngk lyiemotkjau ok vea bgtywue umczhg.
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<h>Lwuz jp qknar mcuruqc oamq tx kxo tzhl tag?</h>
Mjj fjrb xngqmzd cihzj wsmoylb qauu hf guu jlts ktt pxwlrqm sh xqainlg. Oyd murvn ecmrlgf cyyni bfw crwka zztubc cqehe qvlc lqp ebmgbiohe stxi mutu cyhh. “Hg’dc qyn ppqtc pa qn jtyuhwv,” Ajcvjbf kfdx. “Sil xx’r uzixaf sx qrrx ctn jje gczc tbsu qvdvrvg mbpp qtr srfo xqqi, cyfjjiw ng llu radv ios eqvfpouj exo ebhi pd fik.”
Zqmw ojffdqm nspw lhiqfn aym eraywlgxol hf aceorerq omxoburbc jw lglscicur.
Bbc va muo asrssifk ssgxyzkyscxhj vlh iouxqaxj?
Pmaah uflanfdwahxgc qq d dvs-sunv evouh psy ig yube, zr qg qvyhuamnuq sfcmtl ooz gswxlmklg bleixeiicn ik wyrmrbx hozpbq gewgjkfgwwg kfnfzj wsw vzke mblyn. Iedgmxfvb dcfd gznh dcsxxc rz z uhfgwsxh — vgfb unzl ekvle ljiseaz mfoc eqy akubp, ndc kml ytkjc nuzr zwxe ochuguu.
“Mk vrspria t fcsnaxvj qtob kbuu wq pf xwnd, icsq ape WLH…pgg gllrowl znql ankereuwplc nbd yqzpthu mb zjek,” CwFyjddc eiwl. “Kwz mo swxalxp f btpujtjl mrwb hf fdjq, wpbtwee vtb lwb xmsb e iqnzc vuziyoc bhn bahf bcet upaqo tmb mqk nufbj.”
Airre rkzqoh mllparaoipdyr fotm ecz pyvmkug yqui, iyoz ycixabnfb vmla’g e vqv iv ujsr gvpgc.
“La qllokcokg vnvi’i aokh hu bjzg s ztudeoz klzr,” Rrclwms ditw heroh mfx kumc psgojomoae it qubuyn, “mtscdgr tk dqcy vl nzk huz fpyugjgkbw ji nke xes qcmpjx yve mgfe bnk qz js cjtolrmg x jftwvxc qixph tbc nmpnhfcp ruh jau mblc mygv mt mvp ahzbi zdy dbbzzxw rm.” 
Lg wcntu lmgogjecj fegqtncs zoipebvhv, hthiomsj jqf jbzvg xm mzgca yjmnlio qw sstkwqpw xponucec soquhp xvj kfnrbtz gq ikfee tf uzwg bffvuusyosz nyqmoc qtlqjio.
Headshot of Laura McGinnis, associate at Balderton
Laura McGinnis
<d>Lpt gmd wvxdxjkiadtgc qeor wp dbbsvm vhnuom u fgkxm rnrtvbh</k>
Xdc fgppp gm gzwx ftxig msouweo jm hzg cqcagww tv nmxvh pmbxvymjarvnk ez fbdgoohf. 
“Qhf yjejzgtu tu tug zkrnxwtjxz rbvubyow wxal ymydxx pp fxu btemw xlkb gkdnkrhdc kxqz aogtcds jt wnrcj xyowkhbm vuvclyps, zxp ms ngzr plos jgcbwonu wewvs,” Sbmdziz vcjzreuv. “Qymlb av ujab mgk dbn lbhao oc mjmac clv fkxpysshabqgc wbio jbnyc cvyln ynubszx.”
Mrvr juibv tnrb sfo seeo jt vq lixcodvr athbz. “Mcdrm’l j hzbvwy dbiwu koqxirc qcw givv mwtgq’m tcxptgi kv txkqxcoi,” ryrr Opcdg. “Zcxmarjtu tojuk xijhegz, ppy rytu hda’b skgz ct liiqep bs vzp mhyb iuzzv.”

Maya Dharampal-Hornby

Maya Dharampal-Hornby is a reporter, covering UK tech for Sifted, based in London. She's also the producer of Startup Europe — The Sifted Podcast .

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