Balancing Multiple Roles: How to Successfully Navigate Ownership, Management, and Board Responsibilities

In this episode of the Board Dynamics podcast, Dorrit engages in an insightful conversation with Annette, a seasoned entrepreneur and board member, who shares her extensive journey from startup to scale-up and beyond. Annette discusses the complexities of navigating multiple roles as both an owner and a board member, emphasising the importance of diversity in board composition and the value of embracing conflicts as a source of energy and growth.   KEY TAKEAWAYS Navigating Multiple Roles: Successfully managing multiple roles within a startup, such as being an owner, CEO, and board member, requires a clear understanding of the different responsibilities associated with each role. Importance of Diversity in the Board: Building a diverse board with members who possess different competencies and perspectives is crucial for the success of a startup. Value of Conflict: Conflicts can be a source of energy and innovation within a team. Embracing conflicts as opportunities for growth and discussion can lead to better outcomes, provided they are managed constructively. Strategic Focus: Startups often get bogged down in tactical and operational tasks. It's vital to maintain a strategic focus by defining clear goals and visions, which can guide the team and help prioritise actions that align with long-term objectives. Due Diligence for Board Members: Before joining a board, potential members should conduct thorough due diligence on the company, including its financial health, governance structure, and the values of existing owners.   BEST MOMENTS "If you have not tried it before, I'm sure I can tell you. So perhaps not that typical for a woman, but this is how I feel about new things." "If you don't have the ability actually to make sure that you manage to be out of control, then you can't make it as an entrepreneur." "Conflicts are sometimes very, very important... If you get into a conflict, it's because you are passionate about something." "Make sure that you actually see this as very, very important capital to have interest in humans." "Look into how is the company run? What are the targets? What is the economic situation?"   OUR LINKS https://www.linkedin.com/in/dorrit-kromann-29b4041/ https://kromanns.com/en/ HOST BIO Dorrit Kromann uses her competent network to provide solutions to real problems in boards. Dorrit is experienced in organisational development, going from turnarounds in hospitals to the growth of IT start-ups. From the board experience, Dorrit has used the psychodynamic organisational psychology to onboard, understand and solve any board challenge, going from how to recruit new members to business challenges to conflicts of interest.   PODCAST DESCRIPTION Have you ever been stuck in a challenge in a board meeting? Have you ever felt unheard in a board meeting? Have you ever thought that the business and strategy go in the wrong direction? Have you ever had a suspicion that something was wrong in the company? Board Dynamics podcast will take you through some cases showing these challenges, analyse the cases and tell you what to do in such situations.

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