Board meetings can be enthralling as well as exhausting and monotonous but also a lot of fun. They’re also a great way to establish relationships and build connections that will benefit you and your business in the long term.
To keep board members involved and focused, create clear agendas in advance and prioritize items based on importance. Include brief descriptions of each item to allow board members to arrive to the meeting prepared and ready to discuss. Set time limits for each item in order to avoid lengthy discussions and to ensure important decisions are made swiftly.
Provide a brief update on the company’s progress since its last meeting. Highlight achievements and milestones and also areas that require improvement, such as not meeting sales targets or a rise in expenses. This will set the tone for positive, results-oriented discussions.
The second item on the agenda will usually be a discussion of the company’s strategic plan and key performance indicators (KPIs) for each strategy. The discussion will include the goals of each strategy, the steps to take in order to achieve these goals and a timeline. This will give the board an idea of how the company is doing and whether it will achieve its goals.
To ensure a productive discussion, you must schedule your most important agenda items prior to the meeting when board members are at their best and most capable of making sound decisions. Additionally, you should schedule your most important agenda items toward the close of the meeting to ensure that they don’t fall aside and neglected.
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