Why the Right Board Ties Can Make or Break Your Startup
Startups with industry-aligned boards outperform - here’s the proof.
Most startup founders know that building the right product is only half the battle. What’s less obvious - but equally crucial - is building the right board.
A longitudinal study of 335 startups in Sweden’s high-tech sector tracked board structures and board member networks over several years. The key takeaway? Not all board members - or their networks - contribute equally to performance.
Board Composition: It’s Not Just About Size
Researchers tested whether having a larger board or frequently changing board members helped startups perform better. Surprisingly, they found:
No consistent benefit from larger boards
No performance boost from board turnover
What mattered most wasn’t how many people were in the room - it was who they were connected to.
Startup Performance by Type of Board Ties
These industry-relevant ties gave startups insider knowledge, faster learning curves, and - critically - early credibility with customers, investors, and partners.
What This Means for Founders and Investors
If you’re building a tech startup, your board is not just a governance checkbox. It’s a strategic growth asset - but only if it’s built intentionally. That means:
Prioritizing advisors and directors with strong networks inside your industry
Leveraging interlocks to gain early legitimacy and market know-how
Avoiding well-meaning but misaligned board members from unrelated sectors
Where Structured Boards and Advisory Boards Fit In
This is where we come in. OPERATORS connects startups with seasoned executives and operators - not just for advice, but to serve on structured boards or advisory boards that are tightly aligned with your domain.
The research backs what we’ve long believed: when boards are built with purpose and proximity to your market, the performance uplift is real.