Stop Thinking of Your Board Meeting as Something to Get Through and Make it Work For You
I have been involved with hundreds of board meetings throughout my career. I observe that some organizations have a strong handle on running a high-quality and valuable meeting—but many do not.
If you’ve served on a board, you know what I mean. Bad board meetings tend to have several aspects in common, such as board members getting information at the last minute, running the meeting with no agenda, or even wasting the board’s time on operational details or governance issues they don’t need to be involved in.
Bad board meetings can also become dog-and-pony shows where the CEO and other senior leaders discuss how great things are. This, too, is a waste of everyone’s time and why board meetings sometimes feel like “Death by PowerPoint.”
It’s no wonder that so many CEOs begin to think of their board meeting as just something they need to get through rather than as an opportunity to tap the strategic minds of their board members.
With that goal in mind, here’s a strategic guide for CEOs to maximize ROI and ensure these sessions become a valuable part of your business in ways where you might even start looking forward to them.
Why Most Board Meetings Fail
Bad board meetings share common pitfalls:
- Lack of preparation or agenda.
- Focus on operational details instead of strategic issues.
- Becoming “Death by PowerPoint” sessions filled with superficial updates.
These problems lead CEOs to view board meetings as something to just get done with rather than opportunities to leverage the expertise of their board members. This mindset needs to change.
Steps to Effective Board Meetings
1. Prepare Ahead of Time
The first step in holding a productive board meeting is ensuring all the information is put together beforehand. Ideally, you will assemble your board package and send it to board members at least a week before the meeting. That will give your board the chance to review the materials. It also sets the expectation that they have some homework and will come to the meeting with questions in hand.
But I’ve also seen companies shut down for a week to prepare this information for the board. If you’re doing this, you spend too much time over-engineering it to look good. Why not use documents and materials you already have and avoid doing the work twice?
Tip: Include key metrics, performance summaries, and relevant background details for any strategic topics under discussion.
2. Set a Clear Agenda
A structured agenda ensures meetings stay on track and productive. Break your board meeting into the following key sections:
3. Financial Review
Another mistake I have seen happen in board meetings is that the discussion gets bogged down in the business’s financial performance. But you don’t want to spend your time here. Think of it more as a report card of your work that quarter. The board meeting is your opportunity to tell what went well, what missed the mark, and what actions are planned.
4. CEO Update
A board meeting is an excellent opportunity for the CEO to give a brief update on what’s going on with the business, focusing mainly on emerging opportunities, challenges, and the business’s future performance. The information covered should differ from what the CEO might send in a monthly newsletter. This session should keep the focus on strategic themes rather than routine operations.
5. Governance Items
Board meetings can also get dragged into the weeds discussing governance issues. Address necessary approvals or compliance items quickly. Ensure materials are well-prepared in advance so the board can review and consent without lengthy discussions. Ineffective boards spend too much time on contract language or debating legalese.
6. Strategic Conversation
A deep dive into a critical topic facing the company should dominate the agenda, consuming most of the time together. Depending on the length of the board meeting, the board could consider two topics. Excellent topics include strategy, talent, and risk.
The board should be provided with a briefing on the topic, including the objective, the background, and a few options under consideration. The board should ask questions once the information is read and consumed, ensuring everyone gets some time.
Tip: End this segment by summarizing the board’s feedback and outlining actionable next steps.
7. Engage Board Members in Strategic Thinking
Your board comprises experienced professionals with valuable insights. Use your time together to tap into their expertise, ask thoughtful questions, and encourage constructive feedback. This transforms the board into a resource for shaping the company’s future rather than a passive observer of past performance.
8. Rethink the Role of the Board
As a CEO, shift your perspective from “reporting to the board” to collaborating with them. Board meetings aren’t just about accountability; they’re opportunities to gain fresh perspectives, uncover new ideas, and align on long-term goals.
9. Follow Up with Clear Actions
After the meeting, send a summary of decisions, insights, and action plans to all participants. This reinforces accountability and ensures progress between sessions.
Make Board Meetings Work for You
To get the most out of your board, who are presumably people you worked hard to recruit for their expertise, you need to ensure that you create the correct agenda and spend your time together on the most significant issues or constraints the company is facing.
By focusing on strategic discussions, engaging board members effectively, and leveraging their expertise, you can turn every meeting into a catalyst for growth.
Ready to elevate your board meetings? Start implementing these strategies today to maximize their impact.
