I wrote the email below to a founder doing his first board meeting.
Board meetings can provide a leadership team with a perspective on the business that can be very helpful.
But many Board meetings are simply reporting sessions. That is a wasted opportunity in my view.
So setting them up right and getting feedback in real time makes all the difference.
Here's what I suggested to him:
Send out a pre-read that allows everyone to come into the meeting knowing all of the important stuff. I would try to send that out at least two or three days before the meeting so that everyone has time to read it before the meeting
I would include all of this in the pre-read
- sales update, pipeline, key accounts, projections for wins in the next 3-6 months
- technology update, key priorities, key things shipping in the next 3-6 months
- manufacturing update, key partners and progress on them
- financial update - balance sheet, P&L, cash forecast for the rest of the year
- people update, key hires made, key hires planned, any departures
