If board meetings are conducted correctly, they are essential to moving your business towards its goals. But running a board meeting can be a challenge. When your board meets face to the face or online it’s important to plan ahead, set realistic time frames for each agenda item and follow a system that encourages discussion and participation.
Begin your board meetings https://vdrsystems.com/due-diligence-checklist-for-cross-border-deals/ with a call to order. This is an easy method of ensuring that everyone is in attendance and that the meeting is the quorum (which could vary depending on the size of your board).
Facilitate the discussion so that each director receives equal time on the air. This is particularly crucial when discussing complicated or controversial topics. A few or even a few individuals dominating the conversation stifles the plurality of voices and can lead to rushed decisions that lack board approval.
Set up a clear process for making decisions, including how to weigh the pros and cons of each proposal. This will help keep the discussion focused and productive. If you’re not able to find a consensus you can use the voting method of a majority vote to finish the job.
It’s a good idea too, to identify specific action items. This is the responsibility that comes out of the discussions and decisions taken during the meeting. For instance, it could be sourcing information for an initiative or deciding on the next steps to implement a strategy. The fact that you finish on time is a sign of respect for your directors valuable time and shows that you can get the results the meeting was required to achieve.
