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Trendlines Tips | |
10 Tips For Leading Your Board
D. Todd Dollinger, Chairman and CEO of The Trendlines Group
So, you're just more than an hour into the board meeting, you're feeling like your presentation has gone well and it's time to move to the next subject. The questions from the board are pretty good and you've got answers that are even better than their questions. But now, just a few minutes into talking about your U.S. market entry strategy, the tone of the questions seems to change from curiosity to challenge. How did this happen?
Let's be clear - it's your fault. They're good, smart people and they respect you. If they didn't respect you, they'd replace you or they'd leave the board. Your failure today: you didn't manage your board relationships; you didn't lead them. Being a CEO is tough. Leading your board is part of that job. Are you doing it well? Let's consider some of the practical issues of board leadership. Here's a top 10 list for you to think about.
- Everyone hates surprises - talk to board members before the board meeting; clue them in on the big issues; seek comments and advice before board meetings (you also hate surprises).
- Everyone likes to be consulted - use their experience to your benefit; don't just talk, solicit advice and listen.
- Identify your lead directors - every functioning board has lead directors. Lead directors aren't appointed (except the chairman who is probably - but not always - a lead director). The lead directors are the guys (guys includes those of both the female and male persuasions) whom other board members follow.
- Learn about your directors: different guys see the same issue from different angles - they are different people with different interests and different areas of expertise. Not all directors are created equal.
- We all learn differently - learn how best to communicate with each of your directors.
- Get the minutes out fast - discussions and decisions are better remembered after a few days than after a few weeks.
- Demonstrate respect - it's not enough to listen, they need to know that you are listening.
- Feed them - it's part II of "Demonstrate respect".
- Everybody hates surprises II - communicate especially fast on sales and cash flow issues and challenges.
- Governance - it's called governance for a reason. Remember that.
And your bonus board tip (#11) for today: call them. You can't consistently communicate effectively only by email. Call them. Meet with them. You'll learn and they will appreciate it.
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News from the Trendlines Portfolio |
Juvenis and Pro-IV in Biomed Business and Technology Newsletter
In an article featuring "Israel's fertile med-tech product pipeline," Pro-IV and Juvenis, both of Trendlines' Misgav Venture Accelerator, were highlighted among the med-tech startups at the Biomed conference in Tel Aviv, which drew 5,400 attendees from 40 countries. Juvenis is developing Tenergel, a flexible, synthetic fatty acid-based material for use in soft tissue repair and as filler for tissue augmentation, for reconstructive fat replacement and for aesthetic applications. The company is completing a long-term preclinical safety study. Pro-IV has developed a system which employs technology to prevent infusion and transfusion errors. Consisting of a smart valve and a handheld device, it is attached to the infusion/transfusion stream. The handheld device stores the physician's orders and patient information, identifies the drug administered, and records the caregiver's activities.The device's bar code scanner matches the medication and the patient. It verifies the prescription, dosage and timing of the medication and opens the valve, which can be operated mechanically or electronically. Pro-IV is seeking a commercial partner to manufacture and distribute its product in the U.S. The Economist Notes RealView's "Yellow Submarine"RealView, which is developing a minimally invasive endoscopic imaging capsule for long-term monitoring of bladder cancer, was recently featured in an article in The Economist. Flowsense Earns CE Mark
Flowsense Medical has received the EU CE Mark for its urine monitor, URINFO2000, allowing the sale and marketing of the system and its disposable components. The CE Mark certifies that the product and its components comply with the EU health and safety standards. Urine output measurement is a key indicator of a patient's fluid balance and renal condition, the monitoring of which is especially important for intensive care units. URINFO2000 provides automated monitoring of urine output for optimal fluid management and renal care.
ID-U Biometrics Featured Online
ID-U's stimuli-driven biometric system uses a subject's response to external pseudo-random stimuli (behavioral, physiological, and physical characteristics) to form a unique identification signature. ID-U's system eliminates the possibility of forgery or spoofing and can easily be deployed in any platform from cellphones to laptops to high-end systems. Read what Popular Mechanics online and Homeland Security Newswire have to say.
VivoText Capitalizes on Next Generation Text-to-Speech Technology VivoText has signed an agreement with one of the world's largest toys companies for producing a demo of distinctive voices for games. Learn more about VivoText. Headway Signs Distribution Deal
Headway Medical Ltd., which has developed a non-invasive treatment of chronic head and neck pain, has signed a €2.2 million agreement with Dutch company Enraf Nonius B.V., the leading European medical rehabilitation and physiotherapy device company. Read more ... Breezy Draws Interest of Large Food Company Breezy has signed a term sheet with an Israeli food company giant; check out Breezy's novel oral hygiene product. Read more about Breezy.
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| Raises |
Flexicath raised an additional $2.2 million. To date, the company, which is selling in the U.S., has raised $6.5 million. ETView, traded on the Tel Aviv Stock Exchange, completed an NIS 2 million public offering. |
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Deloitte Israel VC Indicator Survey
The Trendletter brings you key findings from the Deloitte Brightman Almagor Zohar Israel VC Indicator Survey. The survey identifies trends and expectations in the Israeli VC arena. Key Findings from October 2010:
- Further deterioration of economic climate sentiment
- Strong support for Treasury's participation in domestic investments of Israeli VCs
- Majority of respondents claim that the Treasury's job should be to incentivize specific subsectors according to national priorities
- Venture capitalists torn between whether or not Israel needs a "Nokia"
Download survey results. IVC Quarterly Survey Findings of the IVC Quarterly Survey conducted by the IVC Research Center, review capital raised by private Israeli high-tech companies from Israeli venture capital funds, foreign and other investors. The Survey is based on reports from 104 investors of which 49 are Israeli management companies and 55 are other - including foreign investment entities.
In Q3 2010, the average financing round was $3.55 million, compared to $3.3 million in Q2 2010 and $2.8 million in the third quarter of 2009. Fifty-seven companies attracted more than $1 million each. Of these, two companies raised more than $20 million each, eight companies raised $10 million to $20 million each and 13 companies raised $5 million to $10 million each. In the first three quarters of 2010, Israeli high-tech companies raised a total of $918 million, 8 percent above the $847 million raised in Q1-Q3 2009.
Trendlines investors can access additional information on our portfolio companies through the password protected page on our website, Trendlines Investors. |
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Trendlines Staff |
Avi Rosenzweig has joined the Signal Business Development team. Avi has built a career in the medical field with experience as a senior manager at a large medical organization in New York City, as a consultant for MATI Ra'anana, and as an independent consultant helping seed-stage companies with business development and fund raising.
Omer Cohen Schalit has been appointed VP Business Development at the Misgav Venture Accelerator. Omer previously served in various managerial positions in McKesson Imaging Group, including Senior Product Manager
and Strategic Growth Manager. Prior to McKesson, Omer worked at ODF Medical, Sibam Ltd. and in the Israeli Air Force where he managed several multidisciplinary technological projects.
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