Gain valuable perspective and a better relationship with your board members by following the CEO advice of a former entrepreneur and current VC: join another company.
Brad Feld, managing director at venture capital firm Foundry Group, offers a piece of CEO advice: “Be an outside director for one company that is not [your] own.” The size of the company doesn’t matter. Instead, the “CEO having the experience of being a board member for someone else’s company” is what’s important.
As a startup CEO and as an investor and board member, Feld understands the pressures of leading your own company and the “emotional and functional detachment” of simply advising someone else’s company. By moving to the other side of the table, startup founders gain perspective from this CEO advice. You are able to “have empathy for other board members,” and “to learn tools and approaches to develop a more effective relationship” with your board.