Over the last few years, I’ve gotten to plan, run, and attend a number of board meetings. It’s never easy, always enlightening, and always stressful. This post is a collection of my current process for when I host a meeting, and some of my favorite tips/tricks I’ve learned from folks with way more experience than me.
Setting up the meeting
Two hour board meeting, once a quarter (avoid Mondays and Fridays, unless you have folks traveling in from out of town)
Friday before the meeting, the board receives the "board packet"
At the meeting, someone on the board will volunteer to take notes, or someone who's not a board member may be brought in specifically for that task
After each meeting, someone from the board will meet one-on-one with someone from the presenting company (likely the CEO) to present specific feedback/coaching
By the end of that week, official notes/minutes from that meeting are distributed to everyone in attendance with action items/follow ups
What’s in the Board Packet
one page summary (example below) of the business for the quarter (including key strengths/wins and key weaknesses/losses)
snapshot financials (P&L and Balance Sheet; possibly Income by Customer Summary if relevant, other key financial documents as determined by working topics)
KPIs for last quarter/year (goal vs. actual)
one or two strategic topics (example below) for discussion (set by the presenter(s)), with background
Agenda for Meeting
30 min: Recap and discussion around prior quarter, review KPIs and financials
60 min: Discussion on strategic topic(s)
15 min: Quick discussion/scheduling for any parking lot items
15 min: Executive session
In the executive session, the board sits down with the CEO (everyone else exits) for direct candid feedback. In some cases, I’ve even seen the board discuss topics alone - without the CEO - and then have one board member brief the CEO on that discussion after the fact.
Example of a Summary of Business
Q3 2018 Summary of Business
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Key wins / areas of strength to highlight:
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Key losses / areas of weakness to highlight:
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Example of a Strategic Topic Summary
Strategic Topic 2 - (example) Technology Roadmap
We currently… [provide background] Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?
Here are what we believe our current options are:
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We currently… [summarize current view of which option is best] Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem.
Discussion items [questions for the board]:
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