In this paper we develop a test a tentative framework of effectual board governance in high potential start-ups aimed at understanding how entrepreneurial founders think and behave in relation to their boards of directors when creating new firms and markets. Overall we draw on the theory of effectuation to suggest that entrepreneurial founders see their board of directors largely as a mechanism to explore and exploit uncertain situations. Based on this conceptual base, we develop theoretical explanations why some founders of high-potential start-ups are more likely to prefer effectual board practices than others. We test our hypotheses on a unique sample of founders who are actively operating and running high-potential start-ups.