How to Hold an Effective Board Meeting
A successful board meeting is an important aspect of building a collaborative culture that allows businesses to develop and achieve their goals. Board members must be encouraged to not to take their responsibilities lightly and spend time preparing for meetings, research and thoughtful suggestions and questions. Regular check-ins and efficient meetings aid in identify action items and increase accountability, while enabling collaborative decision-making.
A productive board meeting starts with an organized agenda and the distribution of relevant materials ahead of time. This will ensure that everyone Board members have had the opportunity to review and understand the material prior to discussing. The board chair should act as facilitator, keeping the discussion on topic and within the allotted time.
Directors are often overwhelmed by reports and the “have-to’s” during board meetings. While these items are important, the majority of the meeting should focus on discussing strategic issues that will propel the company forward.
At the top of the agenda should be an extensive picture section where leaders can discuss high-level updates including key losses and wins, as well as the future roadmap goals for the organization. This is a great opportunity for founders to seek the Board’s approval for specific initiatives, like hiring or partnerships.
If you feel that you’ve not been able to discuss all the items on your agenda, it’s best to agree beforehand to put these into what’s known as the parking lot and revisit them later during a subsequent meeting or through a private phone call or dinner with each director. This ensures that the Board has a comprehensive view of the business and is fully engaged in making the appropriate decisions in order to improve the company’s performance.
