If board meetings are handled correctly, they are essential to moving your business toward its goals. But running a meeting for your board isn’t without its challenges. When your board meets face to the face or online it’s essential to plan ahead, set realistic time intervals for each agenda item and adhere to a format that encourages participation and discussion.
Begin your board meetings by calling the call to order. This is a simple way to ensure that everyone is in attendance and that the meeting has a majority (which will vary based on the size of your board).
Facilitate the dialogue so that each director gets equal airtime. This is especially important when discussing complicated or controversial topics. One or a small number of people monopolizing a discussion can be a barrier to the diversity of the conversation and lead to rush, ill-informed decisions.
Set up a clear process for making decisions prior to the meeting, including how the board will https://vdrsystems.com/due-diligence-checklist-for-cross-border-deals/ weigh the pros and cons of each proposal. This will ensure that the discussion stays productive and focused. If you are unable to come up with a consensus, consider using the voting method of a majority vote to complete the task.
It’s a good idea also, to define specific action items. These are the specific duties that arise from the discussions and decisions taken during the meeting, including sourcing information for an ongoing project or determining the next steps to implement an innovative strategy. Respecting your directors’ time and achieving your goals is evident by completing the meeting on time.
