Hermanas Defined the Best Approach to Build its Board of Directors & Board Charter
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About the company
Hermanas is a global network of women accelerating personal, professional, and cultural growth. Its memberships offer powerful networking opportunities and vetted resources across a large range of topics. Hermanas fosters connections and synergies across borders, cultures, and industries, cultivating a rich environment where women can thrive collectively and individually. As a community, they come together to support and uplift one another in ways that are caring, refreshing, and thoughtful.
Problem Statement
There was a need to define the best approach to construct the Board of Directors and the Board Charter, aiming to establish the roles, responsibilities, voting power, and compensation schemes of the board members clearly and effectively.
The profile they were seeking needed to have extensive experience as a board member, ideally a VC or ex-VC.
- Year: 2023
- Advisors matched: 3
- Advisors selected: 1
- Satisfactory outcome: Yes
Case Study
There was a need to define the best approach to construct the Board of Directors and the Board Charter, aiming to establish the roles, responsibilities, voting power, and compensation schemes of the board members clearly and effectively. The profile they were seeking needed to have extensive experience as a board member, ideally a VC or ex-VC.
The solution involved conducting advisory work based on deep industry knowledge focusing on: Financial Modeling: Reviewing and enhancing the company's financial model to ensure accuracy, investor-friendliness, and compliance with industry best practices. SPV Setup: Assisting in establishing a special purpose vehicle for "small ticket" fundraising, including guidance on structure and coordination with external service providers. Investor Engagement: Providing tools and strategies for effective investor engagement and negotiation, developing a compelling investment pitch, and conducting mock investor meetings. Company Governance: Advising implementing a governance framework including an employee equity plan, Board of Directors, and Board of Advisors.
The solution involved conducting advisory work based on deep industry knowledge focusing on: Financial Modeling: Reviewing and enhancing the company's financial model to ensure accuracy, investor-friendliness, and compliance with industry best practices. SPV Setup: Assisting in establishing a special purpose vehicle for "small ticket" fundraising, including guidance on structure and coordination with external service providers. Investor Engagement: Providing tools and strategies for effective investor engagement and negotiation, developing a compelling investment pitch, and conducting mock investor meetings. Company Governance: Advising implementing a governance framework including an employee equity plan, Board of Directors, and Board of Advisors.
Project Format & Description
After the consulting, the consultant defined the best approach to build its Board of Directors & Board Charter.
Time commitment
- 3 weeks
- 2 hours per week
Outcome and Impact
The project was completed in the agreed-upon time frame with a satisfactory outcome.The company rated the advisor with an NPS score of 10/10.
The advisor was responsive to the client’s needs and concerns in a timely fashion.
Ultimately the advisor:
- Defined the best approach to build its Board of Directors & Board Charter.
