The Schematics Behind Building a Well-Balanced Board

Forming a well-balanced board requires thought and planning.

There are different schools of thought that suggest various ideas for the selection process. Some believe that three board chairs are enough, while others think that seven is more appropriate. Firas Raouf, the speaker in this video, believes that the average of the two is best. So, whether you adopt a five-member board or not, you should set out to make it balanced. You don’t want one side of the company more represented than another.

The people that fill the seats can come from marketing, sales, operational support or any other position that you believe would add value to the board. If your business is backed by a venture capital investment, or multiple investments, you will need your investors represented on your board, too.

Utilizing a balanced board will allow you to reach thoughtful outcomes and decisions through a democratic process. Watch the full video from OpenView Labs for more information on this topic.