Mar 19, 2025
Your board should be your strategic weapon. Too often, boards become routine check-ins or investor-heavy echo chambers, rather than the strategic resources they're meant to be. I tend to think you should be looking for your "Goldilocks board," the one where meetings aren't overly formal or informal, they're just right. A well-constructed board, when leveraged correctly, can provide independent insights, operational expertise, and a level of accountability that drives meaningful progress.
For over 30 years at Edison, we've been cultivating the Edison Director Network. A pet peeve of mine is seeing more mature growth-stage, PE-backed businesses have a bunch of investors on the board alongside the CEO. That, to me, doesn't help the CEO a whole lot. What you really want are operators: the people who have been there and done it. They'll not only empathize with your challenges but actually give real-world advice, versus — you hate to say it — MBAs and spreadsheets.
In this episode of Electrifying Growth, I share about the overlooked power of boards and how CEOs can structure them to achieve the most value.
Unlocking the Full Potential of Your Board
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Strategic Weapons
The term 'strategic weapon' can sometimes come with a negative connotation. But we use that term because it's really the word strategy we're emphasizing, and the weapon part being that boards are underutilized.
Too many CEOs treat board meetings as status updates instead of opportunities for real engagement. A well-designed board isn’t just there for governance—it should push the business forward.
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Operating Partners > Investors
Stacking a board with investors may seem logical, but this limits the company's effectiveness. Independent directors bring operational experience and challenge CEOs in ways that drive real growth.
You don't want to "waste your time with people who think they have all the answers." If you're an entrepreneur who wants to be comfortable, stack your board with a bunch of people you know. If you want to get better and learn from others who've been there and done it, find people who have been there and done it.
- Build the Board You Need
Curate the necessary skillsets. Is it domain expertise? Is it functional expertise? Is it strategic? At Edison, we advocate for appointing a chairperson or lead director to help both drive the agenda and evaluate the board (with the CEO).
Key Lessons for Founders:
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Treat Board Meetings as Working Sessions, Not Updates. The best board meetings aren’t just about reporting results—they’re about tackling real business challenges. Shift from passive presentations to active discussions.
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Stay Engaged Between Board Meetings. A quarterly board meeting isn’t enough. Ongoing dialogue with board members keeps them informed and engaged, ensuring they add value when it matters most.
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Use Executive Sessions to Get Real Alignment. Bringing board members together without the CEO can feel risky, but when structured correctly, executive sessions create transparency and drive more effective decision-making.
Just because you're a great CEO doesn't mean you're going to be a great Director. If you're a great Operator, you may not be a great Consultant. The same goes for board members. Your hands are no longer "on the (strategic) weapon." Your strategic weapon now is showing up and giving feedback.
You have to be comfortable that, as a board member, they're not going to take all of your advice. But the difference between a board that adds value and one that simply exists comes down to structure, engagement, and the willingness to be challenged.
For CEOs who want to scale smarter, the board isn’t a formality—it’s a force multiplier.
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