10 months ago

Finance & Crypto Business & Entrepreneurship Business Succession Boards Fiduciary

Club E | Designing & Launching a Board
November 2024

In this insightful panel discussion, Rick Brimacomb hosts three boardroom veterans as they dive into the essentials of board leadership, decision-making, and governance. Whether you're a small business or a major corporation, knowing when to establish a board and how to maximize its effectiveness is key.

Panelists:

Sal Mondelli: Corporate and ESOP board member, executive coach with The Bailey Group, brings decades of experience in tech and nonprofit board service.

Cora Liebig: Founder and CEO of Chromatic 3D Materials, shares her journey of building a company, attracting investors, and managing board dynamics through growth phases.

Libby Utter: Search and business development consultant at Lyman Executive Search, adds her expertise in recruiting board members for middle-market and public companies.

Key Topics Covered:

Why Establish a Board? Understanding when a board is necessary and the unique value it provides.

Fiduciary vs. Advisory Boards: Important distinctions, responsibilities, and legal implications.

Board Composition: Tips on finding the right skills and perspectives to create a high-functioning board.

Challenges in Board Management: How to handle tough boardroom situations and the importance of maintaining a dynamic, evolving board.

💼 Whether you’re an aspiring board member, a CEO, or an entrepreneur preparing for growth, this video provides practical advice for creating and managing a board that can guide your organization through any challenge.

00:00 Introduction
01:53 Sal Mondelli
02:35 Cora Leibig
04:44 Libby Utter
05:52 Why form a Board
09:47 When to Establish a Board
17:58 Advisory vs Fiduciary Boards
20:31 Skills to look for in Board Members
28:36 Criteria for Board Members
33:02 Difficulties in Managing a Board
37:08 Idea Size and Compensation
37:48 Getting Help to Create a Board
38:25 Member Term Limits
39:09 Traits of High Functioning Boards
39:48 Common Mistakes
40:52 Advice for Getting on a Board
43:01 Key Takeaways