When to approach a potential board member?

liztsai's profile thumbnail
Is this an advisory board or your actual board of directors with governance responsibilities?In either case, always develop a relationship first. For actual board seats, treat these as incredibly precious things that should only be given out in exchange for items of very high value where added governance is truly necessary and/or a good idea (i.e. large financing round).For an advisory board, do as you wish, the stakes are lower. Make sure you understand the specific role that you want the advisory board/members to play and approach the other questions from that angle.