If your business is growing or plateauing, you need the perspectives, experience and influence of your board to take strategic decisions. Board meetings must be held to achieve this.
A board meeting is a formal gathering of the top managers of a corporation or nonprofit. They are elected by the corporate stakeholders – directors – to oversee every aspect of business, including policy and performance.
The board is regularly scheduled throughout the year to review policies and performance reports as well as discuss opportunities and new ventures. Traditionally, companies held their board meetings in person. However, this is changing.
It is essential that every meeting has a specific tone. Board meetings should be focused and informative and there should be no room for off topic chatter. It’s also a good idea to highlight a recent successful story or accomplishment that will bring members to life during the opening remarks.
Once everyone is there, you can start doing business. Board members should talk about any problems they have faced that require attention and running a board meeting consider the advantages and disadvantages of any new business opportunities. A discussion-based format for this portion of the meeting allows members to share their unique perspective and expertise on each topic.
After settling any old business, the board chair announces new business and encourages a discussion. Keep the discussion focused on topics that will help your business expand.