Building Effective Startup Boards

Exam Questions: 30
Course Level: Basic
Pages: 200 | Content: 180, Supplemental: 20
NASBA Area of Study: Management Services
Not Acceptable for: Enrolled Agents
Version: 8195

This course will show you how to structure, manage, and leverage a board of directors so that a young company can effectively grow, avoid pitfalls, and get the most out of the board. It will analyze such things as a board's purpose, the legal obligations, how to recruit directors, tips for compensating and onboarding directors, and suggestions on how to build a diverse board. The course will serve as a guide to CEOs, board members, investors, and anyone interested in creating an active, involved, and engaged board for a startup company. PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

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Course Information

Table of Contents
  • Introduction
  • The Board's Purpose
  • Legal Characteristics
  • Board Member Roles
  • Board Functions
  • Size and Composition
  • VCs and Boards
  • Board Evolution
  • What to Look for in a Director
  • Recruiting and Interviewing Board Members
  • Compensation
  • Board Diversity
  • Onboarding Your Directors
  • Removing a Board Member
  • Is an Advisory Board Useful?
  • Preparing the Board Meeting
  • Meeting Dynamics
  • Motions and Votes
  • Managing Ongoing Communication
  • Committees
  • Mentors and Learning by Doing
  • CEO Transitions
  • Financings
  • Stock Options Grants and 409A Valuations
  • Selling a Company
  • Buying a Company
  • Going Public
  • Going Out of Business
  • Preparing for your First Board Role
  • Interviewing for a Board Role
  • Your First Board Meeting
  • Communicating Effectively
  • How to Be a Great Board Member
  • Conclusion
  • To identify the best type of board for a startup
  • To recall the highest standard of care the law can impose on someone
  • To recognize the characteristics of board observers
  • To identify the characteristics of "great" board members
  • To recall which types of board members should be compensated for their work on the board
  • To recall the characteristics of advisory boards
  • To recognize the only operating decision that a board should ever make
  • To identify the characteristics of board committees
  • To recall common reasons why a board might decide to fire a CEO
  • To recall the characteristics of venture debt
  • To identify the best and most common approach of determining the fair market value (FMV) of a company's common stock
  • To identify the entity that governs the process of going public in the United States
  • To recall the most important thing to know when joining a board
  • To recall the author's recommendations for delivering difficult feedback to the board
  • To recognize what it takes to become a great board member

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.