Kent Weaver: Building, Working With, and Learning from your Board of Directors

My Guest

Today, I was thrilled to be joined by Kent Weaver. Early in his career, Kent was an acquisition entrepreneur, having acquired Sacramento-based Progressive Home Care. Subsequent to the acquisition, Kent ran the company for approximately 9 years before a successful exit. He has been investing in small and medium-sized businesses ever since.

Kent has invested in over 150 search funds and 80 operating businesses, and has served on over 25 boards spanning countless industries, including health care, software, business services and consolidation strategies.

He is the Founder & CEO at Granite Point Partners (a private investment company that acquires, manages, and builds small to medium-sized businesses), a Co-Founder and Partner at Compounding Labs (a private investment firm that invests in recurring revenue businesses over very long time periods), and an Adjunct Professor at the UCLA Anderson School of Management.

Listen in Your Browser

Kent Weaver: Building, Working With, and Learning from your Board of Directors In The Trenches

Listen on Other Platforms:

Apple | Google | Spotify | Breaker | Pocket Casts | RadioPublic

Questions Asked

Constructing a Board of Directors

  • What are some of the most important things that CEOs should consider in selecting Board members?
  • How does a CEO “test” Board members to see if they posses the characteristics that she is looking for?
  • In selecting BOD members, to what extent should CEOs weigh direct experience in the industry in question?
  • What have you learned about the merits and risks of having the seller join the Board after closing?
  • Should every BOD member be an investor? Why or why not?
  • What are some best practices around attracting and retaining external BOD members who are not investors in the company?
  • How valuable is it for a CEO to have an advisor (or advisors) outside of the board who might not be investors?
  • How many is too many Boards for a given person to sit on at any one time?

Reporting into a Board for the First Time

  • What would you say to a first-time CEO who finds themselves somewhat fearful of their Board? And potentially hesitant to share certain things with them as a result?
  • What do good Board members do to establish a sense of trust and safety with their CEOs?
  • What exactly are Board members are looking for during those first few meetings?

Reflections from 10+ Years of Board Experience

  • Have you been on any “bad” Boards? What common or generalizable themese emerge from those experiences?
  • How and when should CEOs communicate bad news to their Boards?
  • Should CEOs give regular feedback to their Board members? Why or why not?
  • How much time, space, or autonomy should Board members should give to CEOs? How do you strike the balance between engaged and heavy-handed?
  • How does a Board member know when it’s time to be prescriptive and give the CEO direct advice, versus when to give them a bit more freedom to arrive at the answer themselves?

Download a Written Transcript of Our Conversation

Access a text-based version of our discussion to highlight, copy or take notes by clicking on the button below

Thanks to our Sponsors

This episode is brought to you by The Profit Line. The Profit Line is a boutique finance and accounting firm that provides a wide range of accounting services to small and medium businesses generating anywhere between $5M to $50M in revenue. On a fractional, outsourced basis, they do day-to-day bookkeeping, bank reconciliations, month-end accruals, tax compliance, and financial statement preparation, among countless other things. I was a customer of theirs for 7 consecutive years while running my own company, and am speaking as a happy customer. Book a call with Founder and CEO, Fern Gordon ( or visit their LinkedIn page to learn how they might be able to help you exactly as they helped me.

This episode is brought to you by Avidbank. Avidbank is one of the most experienced search fund lenders in North America, having funded over 40 separate transactions since 2014, for a total of over $300M. They are deeply familiar with the search fund model, and understand the nuances of the fundraising process, dealing with sellers, communicating with your equity investors, LOI reviews, and everything else in between. Reach out to Anthony Rodriguez ( or Conor Tidgwell ( to learn more.

Leave a Reply

%d bloggers like this: