On Saturday, I called a director at a company I’m on the board of to get a reality check on something that is going on. Ten minutes on the phone solved three things: (1) I was able to road test my idea with someone I respect and (2) I incorporated his feedback into my idea, and (3) we were calibrated.
While this may seem obvious, I’ve never hesitated to call another director on any issue concerning a company I am involved in. While board meetings are logical check in points, they are not the only ones and, in many cases, are not the most important ones.
I know some directors (and CEOs) who are uncomfortable talking with other directors outside the context of board meetings. I’ve never understood this. Pascal Levensohn has a nice post up about this titled Don’t Assume That You Have Consensus on Your Board– Make Sure You Do*.* His simple message is “communicate.”
Reflecting on it, my hierarchy of daily communication is Amy, my partners, CEOs of companies I’m an investor in, and then directors / co-investors of companies I’m an investor in. Ok – I suppose my mom is in there somewhere also.