Building a board

Covering a range of issues from board duties to recruitment to remuneration, this guide details the many aspects of governance that apply as an organization grows.

Once you’ve received funding, you will have to establish a board of directors or the composition will change.

Co-founders need a basic understanding of the personal liabilities that the law imposes on a company’s directors.

Successful recruitment is the key to a successful board of directors.

While many of the guidelines for establishing governance apply alike to both profit and non-profit ventures, the subject of compensation differs between the two.

Entrepreneurs, both corporate and non-profit, create their enterprise to fulfill a dream. As the dream takes shape, the owner/founder will need independent help and advice.

When establishing your board, see the details in the corporation’s bylaws regarding numbers, officers, positioning of the business leader and board leader, frequency of meetings, and other numerous requirements.

Typically, the first board of directors consists of a minimum of three people. This usually includes the owner/founder or the …