12 STEPS TO BOARD MEETING ENLIGHTENMENT

  • Everybody needs a boss
  • Raise your game
  • Point out things you miss
  • Improve decision making

1. Get the right mindset — the board is there to help you run the company

2. Get the right people onto the board

  1. What skills does this board member have? What would be the single most important contribution they could make to this scaleup?
  2. Will I learn and grow under the guidance of this board member?
  3. Do I see conflicts now or in the future which need to be addressed?
  4. Will my other board members engage effectively with this person? Are there any known historical conflicts?
  • Entrepreneurial — has been there and done it before
  • Financial — has raised multiple rounds of capital leading to successful exit
  • Domain Expertise — has built products or services in similar markets

3. Qualify your investor board representative

4. Make sure you have independent board members

5. Understand each board member’s interests and expectations

6. Become a great facilitator of meetings

7. Communicate in between the meetings to avoid surprises at the board meetings

8. Build a forward looking and dialogue driven agenda

9. Board diversity is a competitive advantage

  • It will more likely reflect your stakeholders e..g customers, workforce, partners
  • More perspectives, better decisions
  • Setting example will have trickle down effect within the organisation
  • Better company performance

10. Minimise the size of your board

11. Follow up post board meeting actions

12. Evaluate your board

  • Rank each board member against a number of criteria e.g. decision making abilities, willingness to challenge, creative ideas
  • Is the board working on the right things?
  • Does the board have open and honest dialogue?
  • Is the board pack good? How would you improve it?

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