Take on Board breakfast recap, November 2015

Key messages:

• When do start-ups formalise their boards? Sometimes they are advisory boards; sometimes board of governance. Things to think about: family or friend connections; how the organisation will grow (e.g. adviser versus de facto director).
• Pathways to start-up boards include ‘find and follow the talent’ and ‘follow the money’.
• Is it for me? Consider reputational and risk alignment, values and whether you are Pinocchio or Bob the Builder!
• Strategic rational – should be more than just ‘bigger is better’. Consider gaps in an organisation attributes/strengths/weaknesses and align accordingly. Consider ‘would our organisation win the business to do what we do if we were doing a tender?’.
• Plan and ensure you also have the capacity to execute the plan.
• Do your due diligence – double the costs; halve the benefits and triple the pay back period!
• Develop a risk register and monitor it.
• Be clear about the people side.
• Have a plan to also maintain business as usual through the process.
• Consider all alternatives – collaboration, affiliation, federation – any number of structures that can build scale.
• Is self interest standing in the way of a merger? Including ‘benign self interest’?

 Feedback about the event:

• Excellent work – a wonderful event.
• Excellent speakers.
• The speakers didn’t talk down to us.
• Great speakers (this was the comment on quite a few feedback forms)
• Interesting speakers.
• Flowed well from speaker to speaker.
• Frank and honest advice from the two speakers – very insightful.
• Great speakers – lots to think about.
• Well-chosen speakers – great contrast between start-ups and mergers.
• Inspiring women – wow!
• The speakers were brilliant.
• Both speakers were practical and knowledgeable.
• Inspiring and intelligent presenters.
• Great speakers and fantastic topics.
• Fantastic speakers with extensive experience.