Lars Dalgaard: Building a board consisting solely of investors was a mistake
“I made the mistake, I would say, of having all investor, similar to what you said in the beginning, board members.”
Dalgaard: I rushed hiring an independent board member right before IPO
“It takes very long time to find a very good person for you, and so you don't want to rush that the way I did it right before the IPO.”
Dalgaard: Independent directors must love the business, not the CEO
“I don't think that you can have Somebody be independent if they only love you. I think they have to be in love with your business, but I think it's dangerous if they're smitten by you and sort of bowled over because then they don't become independent.”
Dalgaard: Founders take far more personal risk than venture investors
“It's pretty intimidating to be around your VCs. You've thrown your whole life into this. They haven't, and so it's bigger risk for you personally than it is for them”
Dalgaard: I initially took independent board members less seriously than VCs
“My external board members, for some, I can't really explain reason, I just, I took them less serious, and I wish I had taken them more serious”
Dalgaard: Prospective board members must do blind background checks
“It's very, particularly if it's your first board, it's very easy to fall in love. This must be it. Now I'm getting that, and it's, your ego drives your decision-making, even if you won't admit it. Now I'm on my first board. This is exciting. Maybe not so fast.…”
Dalgaard: Took SuccessFactors public earlier than desired due to board pressure
“Because I, honestly, I didn't really want to go public, but my board wanted to go public, and so I was, had a great sense of duty, of doing things that, I mean, obviously, I got a lot of runway, building your own company the way you want it, and so I felt the …”
Dalgaard: Recruit independent board members for problem-solving fit, not PR prestige
“I was so focused on getting the people who had been big in my industry before so that I could advertise that now I had them. I, I'd much rather have the one who wasn't the biggest today, but the one that was the right fit with me, that wanted to go and fight t…”
Dalgaard: Sharing board materials under NDA tests potential board members
“I think at that stage, you should be comfortable under NDA giving somebody this stuff, because you're, it's such a great test for both of you,”
Lars Dalgaard personally hired his company's first 800 employees
“No, no, I never, I always do my own, yeah, including every single person I hired, and I hired the first 800 people personally.”
Dalgaard argues unified teams vastly outperform toxic 10x individual performers
“Oh, I'm completely comfortable losing the Tenexa. What the total unanimous team that are together in fighting this big battle can gain together because they have that power of trust completely dwarfs that one Tenexa. And you multiply all those people up, what …”
Dalgaard: Executive coaches provide safer and more consistent guidance than advisors
“And what's really great about a coach is that they're actually a safer place in a way than a board is. And it's not like, well, I have an advisor. That's not the same. An advisor will cancel a meeting with you. They have something else to do. They won't be con…”