Lemon #129. How to nail a board meeting

Lemon #129. How to nail a

While reading ‘The Great CEO within, we learned how to nail a board meeting in front of your stakeholders. Matt Mochary says in his book:

The best board meeting is one that gives board members enough information to allow them to be useful to you. Be transparent. Be vulnerable. If you do, you’ll be rewarded with rich and useful feedback.  Here are my board meeting best practices: 

  1. Share the board meeting information.
    1. Format: Memo or deck
    2. Days in advance: Delivered three days in advance.
    3. Information included:
      1. Update on KIPIs
        1. Summary financials
        2. Product roadmaps
        3. Hiring roadmap
        4. Sales pipeline
      2. What we accomplished last quarter
      3. From both KPIs and OKRS:
        1. What went well
        2. What didn’t go well
          1. Why
          2. What we are doing to fix it
      4. What we hope to accomplish this quarter (OKRs)
      5. Issues: One or two strategic questions or problems that we are grappling with.
    4. Requests
      1. Specific action requests of board members
        1. Most board members have strong networks. Take advantage of this by asking for warm introductions to potencial customers, partners…
    5. Feedback
      1. How could the company’s and CEO’s interaction with the board be better?
  2. Collect responses
    1. Ask board members to pose questions about and write responses to the board packet at least two days before the meeting
  3. Meet (phone call) with board members one-on-one just before the board meeting
    1. Ensure they have digested the information
  4. At the board meeting:
    1. Invite the executive team to the attend. This allows board members and executives to get to know one another and gain comfort with one another. 
    2. Spend the first fifteen minutes allowing board members to read the responses to all board packet questions. 
    3. Unpack one strategic question or issue. 
      1. Ask for each board member’s view. 
    4. Unpack the second issue. 
  5. Have social time
    1. It is often healthy to create an informal social venue for board members and the executive team to interact. This is usually a meal before or after the meeting.
    2. Board observers and lawyers are usually not invited to this gathering. 

Matt Mochary @ The Great CEO within

Jorge Moreno

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