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BOA R D S A N D A DV IS O R S
BY S I M ON P. BA R RY , M E N T OR AT M AS S C HA LL EN G E
• What is a Board and what does it do?
• What is an Advisor and what do they do?
• How to form a Board and find Advisors
• Group Exercise • Summary• Q&A
• Commonly known as the Board or Board of Directors
An elected group who act as representatives of the shareholders
They have the highest authority in the organisation
They are responsible for the salaries, approval of financial plans, acquisitions, stock splits and legalities
WH AT I S A BOA R D A ND WHAT DOE S I T DO ?
• An outside director isn't part of the company, but serves on the board
• An inside director is part of the company
• An executive director also hold an executive role in the organisation
• A non executive director is not an executive
THE BOARD: Executive and Non Executive Directors
THE MANAGEMENT: Executive Directors and Managers
THE COMPANY
SHAREHOLDERS
Company’s Governance Structure
Company's constitution
Corporate Governance
Code
Companies Act 2006 (as amended)
The rules that govern the Com-pany and its Board.
D I R E C T O R S ’ D U T I E S C O D I F I E D U N D E R T H E C O M PA N I E S A C T 2 0 0 6
• 1. To act within their powers.• 2. To promote the success of the company.• 3. To exercise independent judgement.• 4. To exercise reasonable care, skill and diligence.• 5. To avoid conflicts of interest.• 6. Not to accept benefits from 3rd parties.• 7. To declare interests in any proposed transaction or
arrangement.
• A board advisor is not a member of the board
Board advisors provide contacts, advice, support, potential
In early stage startups they can provide credibility
They are compensated by expenses, lunch, drinks, cash, stock options or a combination
WH AT I S A N ADV IS O R A ND WH AT DO T HE Y DO ?
HOW TO FORM A BOA RD• The shareholders
form the board• It should be a diverse
range of skills• There should be
some outside members
• Networking is great for finding members
H O W T O F I N D A DV I S O R S
• Hustle• Hustle• Hustle
• Choose your Board and Advisors wisely
• Try and get a range of different types of people
• Look for value add• Don't be bullied by crazy
demands
G R O U P E XC E RC I S E
SU M M A RY
• Be bold• Be brave• Don't be afraid to
approach people• Network• Hustle
T H A N K YO U !
Any questions?
S IM O N P. B A R RY@eggwhisk
www.sparkzeroglobal.com077 66 52 32 77