A board meeting is a meeting between a company’s board members to discuss business results and strategy. Private, public, non-profit, and for-profit companies hold board meetings.
Because board members are the stakeholders of any business, it is essential to have good board meetings. Board meetings keep everyone informed and allow companies to make major decisions.
Are you wondering how to run a board meeting? If so, keep reading to learn how to run the best board meetings.
Determine a Focus
The first step to running a board meeting is determining the focus. If you don’t have a focus for the meeting, you will be wasting the board members’ time.
The focus of a board meeting should be on strategy and making decisions. The perfect board discussions include key performance indicators (KPIs), company performance, and future strategies.
Create an Agenda
Once you have determined the focus of the meeting, you need to create an agenda. An agenda ensures that you cover the desired topics and stay on track.
You should try to send out the agenda as early as possible. An early agenda gives the board members time to review the topics and prepare for the meeting.
If you want a good place to organize an agenda, consider using board portal software. It provides a place to keep all your board meeting information and helps with managing board members.
Keep Track of Meeting Minutes
Meeting minutes are notes that are taken during a board meeting. Before you start the board meeting, assign someone to be in charge of the meeting minutes.
Meeting notes help keep everyone on track, move the meeting along, assign responsibilities at the end of the meeting, and remind everyone of key discussion points.
Hear Everyone’s Thoughts
It is important to hear everyone’s thoughts during a board meeting. Some people like to talk more than others, and talkative people may dominate the meeting. If one person is doing most of the talking, politely remind them to allow others to speak.
If you notice that some people haven’t had the chance to talk, ask them for their input before moving on. They could have helpful insight to add to the conversation.
Never end a board meeting without assigning responsibilities. If people are not aware of what they are responsible for, they will not act.
In addition to making sure they know their tasks, set a due date for those tasks. This will keep everyone on track. The list of tasks and due dates are sent out in the meeting minutes at the end of the meeting.
Now You Know How to Run a Board Meeting
Running a board meeting is an essential part of any successful business. A board meeting should help make major business decisions and discuss future strategies. It is important to keep everyone on track and organized.
Now that you know how to run a board meeting, are you interested in reading about more business tips? If so, check out the business section!