The board of directors is responsible for helping your startup navigate through the most difficult stages of growth. They are then required to make decisions on strategies and approve plans that ensure your company’s success. This is why that effective and efficient meetings of the board are important. To accomplish this, it is important that certain standards are adhered to during the meeting.
The first requirement is that you give attendees proper notice of the meeting. While this will vary based on the size of your company 5 to 7 days is generally considered to be an appropriate amount of time. This gives attendees the opportunity to review the board’s documents and attend the meeting in person or via video and engage in a productive discussion.
In the actual board meeting it is important to have an agenda that clearly outlines precise objectives and sets strict time limits for each item. This will keep the board meeting focused and enable all members to participate in meaningful ways. The agenda should include a list of any documents that require to be approved or discussed. This ensures that the board is taking all important aspects of the company’s growth into consideration and not taking shortcuts.
It is recommended to avoid discussing irrelevant topics in board meetings, however it’s not always feasible. To avoid this issue and to promote a culture that encourages discussions where all opinions are valued. This can be done by incorporating tools like decision matrixes into board meetings.