The young startup company may have a great idea, market potential, or hot technology, but that's often not enough to get it over the hump. A strong success buzz on the firm, which can be self-fulfilling, often depends on whom you know.
Silicon Valley tech firms can gain an enormous boost if a name lead investor or venture firm is connected with it, bringing credibility and contacts. But wise board recruitment can also give a startup this winner's sheen -- if you add a "golden director." Ed Merino, honcho at "Office of the Chairman" board recruiters and consultants in California, says that "a marquee name in the boardroom can be tremendously important, like gaining a name lead investor."
However, a high-profile name is not enough if "he doesn't have your company's best interests at heart. He has to really believe in your company and not be just a fair-weather friend." But finding such a big-name believer isn't easy for the striving startup. How can you do the mutual selling needed to land a "golden director" for your boardroom?
Tapping a third party extends your reach, and adds a verification buffer that can make both you and the potential boardroom star more comfortable. Don't be afraid to aim high -- shoot for a director who'll elicit a "wow" from investors, clients, and job prospects.
Copyright © 2000 Ralph Ward's Boardroom INSIDER