In this insightful episode of Board Dynamics, Dorrit welcomes serial startup founder and CEO Niclas Persson, co-founder of the sustainability tech startup, Deedster. Drawing from over 25 years of experience in the tech and financial technology sectors, Nicholas shares candid lessons on the crucial, often challenging, role of the board in a fast-paced startup environment. 

KEY TAKEAWAYS

The Necessity of an External Board Member: Bringing in a professional, external board member early on is crucial for introducing accountability, challenging assumptions, and helping the founder team work more effectively together.

Crises Force Focus and Unity: Periods of crisis, such as the pandemic or economic downturns, are pivotal moments that force the board and founder team to revert to their core purpose and execute with high efficiency.

Founders Must Prepare for Role Changes: As a startup scales and its needs evolve, the initial founder roles may need to change, and the board is essential in managing these delicate, sometimes painful, transitions.

The CEO's Isolation Increases with Scale: As the company grows and institutional investors join the board, the CEO's role becomes more professionalized and isolated, underscoring the importance of a strong chairman.

Trust and Preparation are the Foundation of a Good Board: Efficient board work relies on proper preparation, making time to understand the material, and a high level of trust among members. 

BEST MOMENTS

"You are a serial startup founder, and I know there are a lot of things going on when you work as a startup... How is it that board dynamics actually both make the board work better and also can stall what we're actually doing in the board?"

"You must be constantly talking to yourself, what to do and what not to do. And how does that affect the board?"

"The first thing is to start, 'okay, well, you have the founders, and you work in your operations every day, but here's the board that's strategic.' Let's... then comes accountability."

"Then it's the few reasons that you will survive and succeed. That's where you need to focus."

"If you haven't been professional in your board work before, then it can be really painful... because then suddenly you have a very different dynamics in your board when you have investors, lead investors, institutions joining in."

TO CONNECT WITH NICLAS

https://www.linkedin.com/in/niclas-persson-2870247/

TO CONNECT WITH YOUR HOST

https://www.linkedin.com/in/dorrit-kromann-29b4041/ 

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.

In this episode, Dorrit welcomes Mette Brøndum, former regional manager of Lindab turned business advisor and board member. Mette shares her journey of transitioning from a corporate environment to a portfolio career, emphasizing the importance of understanding business dynamics and fostering a healthy company culture. 

KEY TAKEAWAYS

Transition to a Portfolio Career: After years in a corporate role, the guest transitioned to a portfolio career, focusing on being a business advisor, mentor, and board member.

Relevance for Tomorrow's Business: To remain relevant, companies must understand and adapt to rapid changes in technology, customer behavior, and sustainability.

Breaking Down Silos: Encouraging collaboration between different departments (silos) is crucial for fostering a healthy organizational culture. This can be achieved by physically mixing teams and promoting understanding among employees from different areas.

Board Member Engagement: Effective board members should actively engage with the business beyond formal meetings and board meetings. This includes understanding the company's operations and being available for discussions with management and employees at all levels.

Personal Dynamics in Boardrooms: The dynamics of a board are influenced by the personal relationships and interactions among members. Establishing a supportive environment where members feel comfortable sharing ideas and feedback is essential for effective governance and decision-making. 

BEST MOMENTS

"Instead of one big role, I'm creating a portfolio career where I work partly as a business advisor slash mentor, but also as a professional board member."

"If we continue doing the same as we did yesterday, we will not be relevant for tomorrow's business."

"I want to be a sparring partner for the top manager or the business owner or the management team."

"If you can't trust the team, if the team is not 100% dedicated, it's a red flag."

"Comfort has never written a great story. So just try something and believe with your engagement and personality that you can create real value." 

TO CONNECT WITH YOUR HOST

https://www.linkedin.com/in/dorrit-kromann-29b4041/ 

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.

In this episode, Dorrit welcomes Niels Nordby Kjær, a seasoned director in the financial sector with extensive experience in risk management and board dynamics. Dorrit & Neils reminisce about their early days as colleagues at Privatbanken in Denmark and delve into Niels' impressive career, including his roles at Nordea and Saxo Bank. Dorrit & Neils discuss the significance of psychological safety, trust, and the challenges boards face in today's complex environment, emphasizing the need for awareness of surface-level and underlying dynamics in effective decision-making. 

KEY TAKEAWAYS

Importance of Trust in the Boardroom: Trust is essential for effective board dynamics. It allows board members to delegate responsibilities to committees and fosters open dialogue, which is crucial for making informed decisions.

Psychological Safety: Creating a psychologically safe environment in the boardroom enhances decision-making quality and encourages critical thinking.

Understanding Board Responsibilities: Familiarity with the four key responsibilities of a board—ensuring the company's best interests, overseeing strategy, managing succession planning, and maintaining compliance—is vital for effective governance.

Navigating Complexity and Scrutiny: Boards face increasing pressure and complexity in their roles. Effectively prioritizing tasks is crucial to managing the limited time available for discussions and decision-making.

Awareness of Underlying Dynamics: Being attuned to the dynamics beneath the surface in board interactions is critical. Listening to one's instincts and reflecting on the emotional climate can lead to better judgment and more effective actions in the boardroom.

BEST MOMENTS

"I think psychological safety in the boardroom is very essential because it directly affects the quality of decision-making and the integrity of the governance."

"It's really important to do small things like that and big things like... change the name tags to help people get to know each other."

"Without the trust, you are not able to delegate to committees to drive more into specific areas."

"I think it was a fantastic learning experience to see that this common purpose... helped everyone to do what they could to move it forward."

"The awareness and the competences in this area will make it high performing or stall the boards."

TO CONNECT WITH NIELS

https://www.linkedin.com/in/niels-nordby-kj%C3%A6r-02432830?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

TO CONNECT WITH YOUR HOST

https://www.linkedin.com/in/dorrit-kromann-29b4041/ 

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.

In this episode of the Board Dynamics podcast, Dorrit welcomes Phaderia, a consultant and speaker specialising in gender equality, diversity, and inclusion. They discuss the importance of cultural diversity within boards and the dynamics that influence effective governance. Phydria shares her unique background, including her experiences as a woman of colour on various boards, and emphasises the need for inclusive leadership and psychological safety in boardrooms.

KEY TAKEAWAYS

• Value of Diverse Boards: Diverse boards, encompassing various dimensions such as gender, age, and cultural background, lead to better decision-making and improved financial performance for the organisations they govern.

• Importance of Psychological Safety: Creating an environment where board members feel safe to express their ideas, ask questions, and admit uncertainties is crucial for fostering innovation and collaboration.

• Inclusive Leadership: Effective board leadership involves practising inclusivity, where the chairperson coordinates the diverse voices and perspectives of board members, ensuring everyone is heard and valued.

• Addressing Underlying Dynamics: Board culture often includes unwritten rules and dynamics that can hinder open communication. Recognising and addressing these issues is essential for improving board effectiveness.

• Continuous Learning and Reflection: Board members should engage in self-reflection regarding their biases and experiences, and actively work to build trust and relationships within the board to enhance collaboration and decision-making.

BEST MOMENTS

"It's better to say the wrong thing instead of not saying anything at all."

"If you don't see color, you're not seeing me."

"A board is just like any other organization. If you're going to change things, you have to apply the rules of change management."

"Diversity is a fact. I tend to advocate that I'd love for humanity to reach the point where it's a natural part of the way we operate."

"It's important to have an environment where you can feel unsafe in the sense that you actually dare to not know what is going on."

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.

In this episode of the Board Dynamics podcast, Dorrit engages in a deep conversation with Peter Koefoed, a seasoned psychologist with extensive experience in both psychotherapeutic and organisational settings. Dorrit and Peter explore the concept of mentalization and its significance in board dynamics, particularly during critical situations like succession. Peter shares insights on how understanding the emotional and psychological aspects of board members can enhance decision-making and foster a more collaborative environment.

KEY TAKEAWAYS

• Mentalization in Board Dynamics: Mentalization is the ability to understand actions in terms of thoughts, feelings, wishes, and desires, which is crucial for effective collaboration in board settings.

• Importance of Acknowledging Differences: In a board, members come from diverse backgrounds and represent various interests. Acknowledging these differences and creating a safe space for discussion can enhance trust and improve decision-making processes.

• Handling Succession Crises: Succession, especially when unexpected, can create a crisis within a board. It's essential to recognise the emotional investments in the outgoing leader and facilitate discussions that allow members to express their feelings and concerns.

• Active Listening Techniques: Implementing active listening strategies, such as summarising others' viewpoints before presenting one's own, can foster a more inclusive environment.

• Continuous Reflection and Integration: Regularly revisiting past discussions and decisions in meetings can help maintain continuity and integration within the board.

BEST MOMENTS

"Mentalizing is the ability to understand actions by both other people and oneself in terms of thoughts, feelings, wishes and desires."

"If the board is malfunctioning and only some on the board is heard and seen, that will create a dynamic which is not healthy."

"You have to acknowledge people's differences. Maybe when you hear people that are expressing exactly the opposite as yourself, you maybe will find that it resonates at something in yourself."

"It's important to spend some time letting people talk about what is going on and what... qualities and competences we need with the new CEO."

"You can actually do it, but also accepting that daily board work is not, there's a pressure on time, but you have to balance it."

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.

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

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

In this insightful podcast episode, Dorrit engages in a deep conversation with Anne Eberhard, a seasoned board professional with extensive experience in both Danish and international boards. Dorrit and Anne explore the evolving landscape of board diversity over the past decade, discussing the importance of gender diversity and the complexities that arise from diverse perspectives in decision-making. Anne shares her journey from a successful banking career to becoming a full-time board member and advisor, emphasising the need for boards to adapt to increasing external complexities while maintaining effective internal dynamics.

KEY TAKEAWAYS

• Importance of Diversity: Diversity in boards is crucial not only for gender representation but also for bringing different competencies, backgrounds, and perspectives.

• Preparation and Proactivity: Board members should come well-prepared, not just by reading documents but by understanding industry trends, competitors, and the overall market landscape.

• Role of the Chair: The chairperson plays a vital role in fostering an inclusive environment within the boardroom. They must ensure that all voices are heard and that discussions are constructive, helping to mitigate biases and encourage open dialogue.

• Value-Adding Behaviour: Boards should focus on being value-adding rather than burdensome to management. This involves understanding the company's core offerings, being aware of external risks and opportunities, and maintaining a balance between oversight and support.

• Lifelong Learning and Adaptability: Continuous education and staying updated on relevant trends, such as ESG and cybersecurity, are essential for board members.

BEST MOMENTS

"I think sometimes we have to also as women not to focus too much on can we do this leadership role or can we do this and that—I mean just do it and just grab the opportunities."

"Diversity creates better discussions and also makes us make better decisions."

"I think it's really crucial to understand the purpose why we are here, but also to have an understanding of the core offering of the company."

"As a woman, we just have to be 10% better than the others to be equally accepted."

"I think it's very important that the board is value-adding in its behavior and not becomes a burden of the management team."

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.

In this episode of Board Dynamics, Dorrit engages in a thought-provoking conversation with Charles Stonehill, a seasoned board member with extensive experience across various industries and countries. Dorrit and Charles explore the evolving dynamics of boardrooms since 2005, highlighting the increasing complexity of business challenges, the importance of diversity, and the necessity for effective committee structures. Charles shares insights on the responsibilities of board members, the significance of onboarding, and the need for open dialogue and challenge within board discussions.

KEY TAKEAWAYS

• Evolving Board Dynamics: Over the past two decades, board dynamics have shifted significantly, with a greater emphasis on diversity, expertise, and the need for boards to reflect the complexities of modern business environments.

• Importance of Committees: Committees are becoming essential in the board structure, serving as the "engine room" where detailed discussions and analyses occur.

• Onboarding Process: A thorough onboarding process is crucial for new board members to understand the company, its culture, and the specific dynamics of the board.

• Challenging Conventional Thinking: Board members should be prepared to question established practices and think critically about decisions. This mindset is vital for navigating the rapidly changing business landscape and ensuring long-term shareholder value.

• Equal Voice in Decision-Making: Every board member, regardless of tenure or background, should feel empowered to express their opinions and concerns.

BEST MOMENTS 

"It takes time to become a good board member and a comfortable board member."

"The world's become more turbulent. We've had shocks in the financial system, politically, and geopolitically."

"Boards should not move as a herd. Every board member is independent of every other board."

"If you feel strongly about something, you should always express that and insist that your voice is heard."

"You should always be prepared to challenge conventional thinking."

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.

In this episode of the podcast on board dynamics, Dorrit engages with new and young board members, Ash and Olga, explores their experiences and insights on navigating the complexities of board work. Ash and Olga delve into the challenges and opportunities that come with being new and young in a board setting, including feelings of impostor syndrome, the importance of diverse perspectives, and the dynamics of decision-making. Ash shares his initial apprehensions and the gradual comfort she found in participating, while Olga reflects on the value of structured meetings and the need for reflection.

KEY TAKEAWAYS

• Onboarding and Expectations: New board members often feel uncertain about their roles and responsibilities. Clear onboarding processes that explain the board's dynamics and expectations can help alleviate this uncertainty and foster confidence.

• Differences in Meeting Dynamics: Board meetings tend to be more structured and deliberate compared to typical work meetings. This slower pace allows for in-depth discussions and careful consideration of decisions, which can be a significant adjustment for those used to faster-paced environments.

• Value of Diverse Perspectives: Having younger members on a board can provide fresh viewpoints and challenge traditional thinking. This diversity can lead to innovative ideas and solutions, as younger members may approach problems differently than their more experienced counterparts.

• Importance of Reflection: Incorporating time for personal reflection before and after meetings can enhance participation and engagement. This practice allows members to clear their minds and focus on the meeting's objectives, as well as to share thoughts and feelings that may impact group dynamics.

• Creating a Safe Environment: Establishing a board culture where all voices are heard and respected is crucial. This inclusivity fosters trust and encourages open dialogue, allowing members to express concerns or disagreements without fear of judgment, ultimately leading to better decision-making.

BEST MOMENTS

"I felt like I was quite quiet just because I was trying to take it in and understand exactly how things work."

"To have a conversation, which essentially is in layman's terms, it should be like, so this is typically what happens on the board."

"The ability to reflect on the decisions you take where you need to slow down is something that's very useful."

"It seems like every single bullet point, every single decision is much more scrutinized on the board.

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.

In the inaugural episode of Board Dynamics, Dorrit delves into the intricate workings of nonprofit boards, focusing on the dynamics that influence their effectiveness. Lesley, an experienced board member and consultant, shares insights from her decade-long involvement with various boards, highlighting a specific case involving a large nonprofit organisation with 18 members and a significant budget. As they navigate the complexities of board dynamics, Dorrit and Lesley emphasise the need for self-awareness, effective communication, and integrating best governance practices to enhance organisational effectiveness.

KEY TAKEAWAYS 

• Understanding Board Dynamics: Effective board governance goes beyond financials and strategy; it involves understanding the interpersonal dynamics and relationships among board members, which can significantly impact decision-making and organisational effectiveness.

• Diversity and Representation: While the board had a majority of female members, it lacked diversity in other aspects, such as ethnicity and cultural representation.

• Governance Challenges: Many board members lacked a clear understanding of their roles and responsibilities, leading to confusion about governance practices.

• Resistance to Change: Change within the board was met with resistance, particularly from the executive committee, which was comfortable with existing power dynamics.

• Importance of Evaluation and Self-Awareness: Regular board evaluations should include discussions about underlying psychological dynamics and interpersonal relationships.

BEST MOMENTS 

"What's really interesting about the work that we're doing... is that you're talking really about how boards work."

"There was a lot of friction, especially from the executive committee... who were very happy with the power dynamics that had been established."

"The governance structure of the organization and the structure of the board hadn't changed in decades."

"The board to their credit brought in experts to talk about bias and to talk about racism and stigma."

"The board evaluation is a critical tool, but it needs to be revisited."

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.