The board of directors is the group responsible for managing your startup through the most challenging stages of growth. They will then have to decide on strategies and approve action plans that will guarantee success for the company. It is for this reason that effective and efficient meetings of the board are so important. To ensure this, a few key requirements should be observed during the meeting.
The first step is to inform attendees of the meeting in advance. While this will vary based on the size of your company Five to seven days is generally considered to be a reasonable amount of time. This allows attendees to review the board’s documents, attend the meeting either in person or via video, and participate in a productive conversation.
In the board meeting itself you must have an agenda that clearly defines specific goals and sets strict time limits for each item. This will keep the board meeting clear and allow everyone to participate in meaningful ways. The agenda should include a list of any documents to be discussed or ratified. This helps instill in participants a sense that the board has taken into consideration important aspects of the company’s growth and is not rushing through the process.
It’s a good idea to avoid discussing irrelevant issues during the board meeting, however this isn’t always possible. To avoid this it is important to promote an atmosphere of discussion where all opinions are valued and respected. This can be accomplished by incorporating tools such decision matrices into your board meetings.
Samantha Pena
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