Infant formula startup, Bobbie, had a PR problem even before the idea was conceived. Formula did not have a good rep for its long history of egregious marketing practices, undermining breastfeeding rates and raising infant mortality around the world, especially in low-income countries.
But as the demands on women or parents only seem to explode with every new convenience, formula is not going anywhere. And it is not only the formula industry background that affected Bobbie’s public perception, the breast vs formula debate is contentious, especially in the US. So what did Bobbie’s founders do when they were just starting out, and were low on capital for expert input?
They came up with an idea that could help every startup. It’s what they called, and continue to call the MotherBoard – a board of experts, mostly moms – that offer inputs and opinions pro bono for just a few hours each month.
In this interview with Kate Andrews, Partner at Bolt, a pre-seed venture, asks Laura Modi, Founder of Bobbie the following question:
“You’re a magnet for talent, which is a phenomenal quality for a founder. What have you done to give yourself that talent edge?”
To which, Modi responds:
“The Mother Board concept was to invite 25 women – top talent – to give us four to five hours a month in return for equity in the company. The beauty of this was that while I couldn’t attract a top PR person to join a start-up two months into launching, I was able to attract top talent to come on board as advisors to the business for four hours a month. Fast forward – we’ve now converted six people from the MotherBoard to full-time employees.”
But as founders juggle everything from product fine-tuning to logo design, should you really make time for a board?
“Oftentimes, board formation gets relegated to the back burner, seen as a task for a later stage. This mindset is a missed opportunity,” says Veteran VC and partner at Next 47, Matthew Cowan says in this helpful post about how to leverage a pres-seed board.
Of course the board evolves over time.
Now, Bobbie’s MotherBoard seems to have even paid brand ambassadors, like tennis player Naomi Osaka.
