Reid Hoffman
Entrepreneur, Investor & Strategist
Reid Garrett Hoffman is an American internet entrepreneur, venture capitalist, podcaster, and author. Hoffman was the co-founder and executive chairman of LinkedIn, the business-oriented social network used primarily for professional networking.
Reid recently posted on twitter:
1. Be inclusive.
Many board meetings are dominated by one or two board members.
The best boards seek out the opinions of everyone in the room, not just the loudest.
2. Fundraise proactively.
Most boards reactively raise money when the company runs out of cash.
The best boards proactively plan for fundraising opportunities like market shifts and inbound offers.
3. Advise, don’t pilot.
The worst boards can break a company by dictating priorities.
The best boards take a hippocratic oath of “do no harm”. They aren’t pilots. They’re front-seat advisors.
4. Hire for cofounder mindsets.
The best boards understand this secret to hiring great executives.
People with a cofounder mindset are willing to take risks when success isn’t guaranteed.
5. Invest in relationships.
Hollywood idolizes board meetings as the place where crucial decisions are made.
The truth is the best ideas, collaboration, and feedback happen outside the boardroom in informal 1:1 meetings.
6. Tap into individual superpowers.
Everyone has a superpower — a unique combination of skills, experiences, strengths, and networks.
The best boards leverage the superpowers of individual board members, to help the company navigate threats and unlock opportunities.
7. Send personal emails.
How would you feel if you got a personal email from someone on the board of your favorite company?
The best boards send personal emails to help the company sell, hire, and raise money.
8. Think big.
The best boards are the CEO’s biggest cheerleader. They inspire the company to stretch the limits of what’s possible.
Airbnb famously did this by designing an 11-star experience for guests.