Board meetings can be exciting but also exhausting and boring at the same time. Board meetings are also an excellent opportunity to build relationships and connections which will benefit both you as well as your business over time.
To keep board members interested and focused, develop clear agendas in advance and prioritize items based on importance. Include brief descriptions of each item so that board members be prepared to discuss. Set time limits for each item in order to avoid lengthy discussions and to ensure that important decisions are made quickly.
Update the group on the company’s performance since the last meeting. Highlight milestones and achievements and also areas that need improvement, such as not meeting sales targets or a rise in expenses. This will help set the tone for productive and focused discussions.
The second agenda item usually includes an overview of the company’s plans and strategies as well as key performance indicators (KPI) for each strategy. This includes the strategies’ intended objectives, the requirements to reach each goal, and a timetable for implementing. This will give the board a sense of how the business is doing and whether it can meet its goals.
To ensure a productive discussion, you must schedule your most virtual data rooms important agenda items early in the meeting when the board members are at their best and most capable of making sound decisions. Schedule your least important items toward the end of the session to ensure that they are not pushed aside and forgotten.
