1/ A really scarce commodity : the great non-executive director. What we get versus what we’d like...

2/ what we normally get - a bunch of high level comments at board meetings only and vague moral support for the founders.

3/ what we’d really like - firstly someone who cares as deeply about the success of the business as the others around the table, and anticipates issues and dynamically maps out opportunities

4/ a real independent sounding board for the founder - too often they are the VC’s pet or uncritically endorse whatever the founders say or want to do - not being independent thinkers at all

5/ NED have a unique position - they don’t have any form of conflict between their role as investor / board member or shareholder / manager — this is a great vantage point from which to have REAL impact