Board meetings can be a valuable resource for your company. In reality, they can help you make quicker decisions, improve productivity and time-management skills, improve collaboration and help bring your business closer to its goals.
They can be long and confusing, as well as boring. This is because many boards don’t have a proper structure, schedule of meetings or agenda in place, and even the ones that have, they’re usually not run in a way that maximizes participation and efficiency.
The most important thing to have the success of a meeting of a board is having an agenda that clearly outlines the content of the meeting. It should also provide all the necessary documentation prior to the meeting. It’s boardroomcommunity.com/full-guide-to-better-board-meetings/ important to limit the amount of agenda items and to avoid reusing items from one meeting into the next.
In the discussion portion of the meeting, be sure to focus on issues and challenges that are strategic in nature rather than just operational. This will stimulate the board members’ diverse skills and interests, helping you tap into a deeper reservoir of energy for your discussions.
The board of directors should be able to discuss, approve and measure strategies that can help your company achieve its goals. This includes the definition and discussion of concrete indicators to measure progress. This can be accomplished by assigning a ‘KPI’ to each strategy. For example retention rates of donors or clients as well as the amount of money that is earned. Focusing these discussions on the most important issues that your company faces will increase the effectiveness of every minute of your board meetings.