Friday, June 10, 2005

After the Term sheet

Levensohn Venture Partners authored a useful guide to start-up board dynamics, and in particular how boards influence the success or failure of technology companies.


Click here for article


  1. Anonymous7:18 PM

    Hi Will, it's funny, I just listed to a podcast today with Keith Benjamin of Levensohn Venture Partners. Knew him from the old RealNames days. The podcast is at

    Hope you are well.

    Mike Arrington

  2. Anonymous7:58 AM

    This post from Will Price contains a link to a Levensohn Venture Partners authored guide to start-up board dynamics, that in particular explains how boards influence the success or failure of technology companies. From the guide:

    "Boards that provide the greatest value to their companies have the following qualities in their operation:

    • Company-first governance
    • Focus and narrow vision
    • Customer-focused point of view
    • Complementary mix of talents
    • Decisiveness
    • Mutual respect and regard
    • Strong communication with the CEO...

    There are many causes of failure in a new venture, but some of the preventable ones include the following pitfalls that belabor Venture Boards...

    1. Complacency
    2. Inability to confront difficult issues
    3. Distraction and over-commitment
    4. Misalignment of interests between Board Members and investors
    5. Divisiveness on the Board
    6. Paralysis over liability issues
    7. Board Member role confusion
    8. Leadership vacuum
    9. Loss of trust in the CEO
    10. Resolution to fail"