Non -Executive Board of Directors position available.
November 15, 2023
by a searcher from University of Illinois in Chicago, IL, USA
Hi,
Currently, we're assembling our Board of Directors and we are actively seeking a non-executive attorney and real estate finance executive with M&A experience. Founding Board members will be given equity and will not be asked to contribute capital.
If this aligns with your interests and expertise, I'd love to connect. Please contact me at redacted or DM me.
Industry: MHP/RV Parks
from University of Maryland at College Park in Annapolis, MD, USA
I am regularly surprised and impressed by the caliber of people willing to join startup searchers, however I often see an unacceptable amount of attrition along the way to a successful transaction, including the boards and other team members as well as the searchers themselves. For reference, I have spoken and in some cases advised more than 75 searchers about their board and team building practices and results, and the same set of problems occur again and again.
High performing board members want to see high quality execution in all relevant areas, including organization, governance, planning, presentation, target identification & analysis, modeling, equity & debt financing, vendor management, and most importantly, team leadership and communication (and of course closing, integration, and ongoing operational management). Unfortunately, quality execution is rarely seen in first time searchers, and results in expectation gaps with respect to roles, responsibilities, and compensation, including both equity and cash. When strong board members serve on weak teams (due to leadership and execution failures), they frequently adopt a wait-and-see attitude and don't provide the expected and required level of support. Ultimately they move on to greener pastures. I would be happy to discuss my experiences in greater detail
from Villanova University in Lancaster, PA, USA