Your investor is not your boss

You've just closed your fundraising round, and a meeting invite appears. "Monthly Board Update" is the title.

Do you feel dread, or annoyance?

I've seen both reactions in founders, and they reveal two common archetypes:

👨‍🦰 Nervous Nigel
"Wow, this person just gave me money. I feel the weight of their expectations and it makes me nervous. They're investors, so they must know more than I do. When they tell me what to do, I'm going to listen. They've probably seen this before, right?"

👩‍🦰 Figjam Francis
"You people are very lucky to have had the opportunity to invest in my company. We're going to be a huge success, but let's be clear. You're along for the ride, but I'm driving. Let me look at your resumes. Not an operator, not an operator... annnnd not an operator. Got it. You can't tell me anything because you've never done this yourselves. You're financial mechanics. See you at the finish line. Strap in mofo."

Both are wrong. But Figjam Francis will probably build the bigger company.

The truth is that your investors have bet on you and your vision. If they wanted to run the company, they would have started it themselves. They've chosen instead to back founders they believe can win.

So what's the right way to think about the relationship?

Yes, it's a privilege to have capital to build your dreams. You should feel the weight of expectations from investors, co-founders, customers, and your team. But that weight shouldn't distort how you work with your investors.

Think of them as critical friends, not commanders. They have pattern recognition, but you have context. Most importantly, your investor is not your boss. (If you're high in agreeableness, say that out loud until it sinks in.)

Your investors can help you go faster with capital, connections and support, but they are not the ones building the business. Think of them as great at opening doors, but absolutely terrible at choosing which doors to open. That’s your job.

The best founders treat their investors with respect and continually invest in the relationship to get the support they need. But they know deep down it's their company to build, and they make decisions accordingly.

So be prepared. Listen to wisdom. But never forget that you're not their employee. You're their bet.

And the best way to respect their capital is to build the company you know needs to exist, not the one they think should.