Board Member Contribution Models
The following Board Member Contribution Models apply to positions in
start-up and emerging growth technology companies where the Board Member
contributions fit existing executive management needs and these efforts will
warrant some form of compensation.
A
Board Member (Advisory, Regular, or Active) is committed to a small or emerging
firm that needs fast access to a senior executive's advice or contribution,
and:
- Is familiar with company staff, Board and investors
- Knows, and is current with, the company's business, products, and
markets
- Is available to step in immediately in areas of need
- Is motivated by the company's ultimate financial success (with
compensation substantially composed of equity) rather than just the opportunity
for consulting fees
Advisor/Regular Board Member
Time commitment typically includes:
- Board meetings (assumed to be scheduled six to twelve per year)
- Phone meeting advice
- Contact information and introductions to external agencies and people
- Time with CEO and others, as required after Board meetings
- Total time assumed to average
one-half to one full day per month
Active Board Member
Time allocated and committed for more involvement and/or contribution allows
more detailed and timely assistance to management team:
- Plan outlines, suggestions, detailed review and proposed revisions
- Direct involvement with agencies, recruiters and/or financing sources
- Maintain timely information regarding key company staff, current
strategy details and product plans
- Total time assumed to average
one to four days per month