How to Build a High-Impact Tech Startup or Mid-Stage Board with Chemistry 

How to Build a High-Impact Tech Startup or Mid-Stage Board with Chemistry 

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From how it operates and when it’s assembled, to who should be on it and how it should evolve, there’s plenty to consider when it comes to building and managing a high-impact board at a startup or mid-stage tech company.

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As part of our research and interviews for the Global Board Report Series, we took a deep dive into what makes boards not just functional, but truly impactful.

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At the heart of it all is intentional design. The most effective boards are assembled to bring together complementary skills, experience, and working styles that allow founders and directors to evaluate opportunities, navigate challenges, and make better decisions together.

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What do the best boards have in common?

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Our research revealed that the highest-performing boards share a few defining traits:

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> A healthy balance of directors and independent voices 

> A diverse blend of skills, experience, and network 

> A culture of openness, candor, and respect

> A proactive approach to strategy setting

> A bias toward action and evolution

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Every business is unique and so should be its board. But the strongest boards share a culture that enables meaningful conversation, accountability and forward thinking. 

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Chemistry doesn’t happen by accident.

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The way that board members complement one another’s skills, experience, networks, and perspective is vital. 

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Many founders still focus on the basics: procedure, attendance, equity, and headcount. Important, yes. But assembling a board in this way is akin to building your team on auto-pilot. The reality is that the key to assembling a high-impact board requires you to dig deeper. 

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Our interviews revealed a consistent theme: great boards are those where members are emotionally intelligent, engaged, and committed to more than just showing up.

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"The best boards that operate in harmony have emotionally intelligent people from different backgrounds with different skillsets who can challenge each other without taking it as a personal attack." 

- Peter Needle, Founder at Segura Systems, Board Advisor & Head of Sustainability at Oii.ai

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Harnessing constructive and positive tension for productive collaboration. 

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Chemistry doesn’t mean easy conversations with everybody agreeing. In fact, the opposite is true. Differing opinions and approaches to problem solving, as long as they’re built on respect and trust, can drive better decisions and outcomes. 

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"You want to create a good chemistry and good tension in a conversation and the ultimate is not having a board that simply agrees." 

- Jay Allardyce, Chief Product Officer, Co-Founder & Board member

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The most effective boards know how to disagree well, where debate leads to clarity, not conflict. That requires a few key ingredients:

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> Mutual trust and respect 

> Some shared values 

> Diversity of thought 

> A Chair who can effectively manage internal dynamics 

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“There can definitely be tense conversations and disagreements as part of being on a board. This can happen when you’ve got new board members who aren’t quite there yet in their understanding of the business or coming in with an energy mis-match. Recently a new board member came to their first meeting with  “a take over the room’ approach which created some tension. But, kudos to the chair who managed the conversation and the interpersonal dynamics. We heard from everyone, nobody was called out in the process, and it was handled well.” 

- Ophelia Basgal, Research Affiliate-Executive Coach-Board Member

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Jeffrey Sonnenfeld is a pioneer in the field of Executive Leadership and the Founder of the CEO Summits, a renowned program convened semi-annually at the Yale University School of Management. He’s considered one of the world’s foremost experts when it comes to CEO leadership and corporate governance. 

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Throughout his career, Sonnenfield has advocated for an approach to board assembly and management that underscores the need for founders and CEOs to build robust, effective social systems – not just structures – that prioritise truth-seeking, open dissent, and individual accountability.  

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Per Sonnenfeld, ‘great’ boards are those which engage in a “virtuous cycle of respect, trust, and candor” in which “one good quality builds on another.”

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Red and green flags from board members and business leaders. 

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When we asked founders, chairs, and directors what they look for when building or joining a board, one theme came through loud and clear: chemistry starts with the founder.

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“As a board member, you need to feel like the founder is open minded and will listen to you. And as they’re the evangelist of that brand, I want to see them walk into a room and everyone’s going to remember them.”

-Melanie Trenchard, Board Director & Chairperson

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"A big check box for me is someone who’s prepared to be vulnerable. Who understands where they’ve got a strength so where is best to contribute vs where they haven’t and so should stand back and let others take the lead or actively seek input.”

-Richard Best, Non-Executive Board Member, Advisor, and Fractional CRO

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“Founders who can adapt: You’re probably not going to be the CEO forever. So, being able to step aside when the time is right or move into a different role is critical. You’d be amazed how many people don’t want to hear that.”

-Rob Wirszycz

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The takeaway..

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A high-impact board is more than a group of experts around a table. It’s a living system built on diversity, respect, and constructive challenge, where chemistry fuels strategy and tension drives progress.

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For founders, that means looking beyond titles or investor obligations. Build your board like you’d build your executive team: with intentionality, emotional intelligence, and unique approach to strategy and problem solving. 

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We explore this theme further inside our upcoming Global Board Report Series 2025. It’s launching in November, reserve your copy here. 

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