If board meetings are handled properly, they can be essential to moving your business towards its goals. Board meetings are not without its challenges. It’s essential to plan ahead and set realistic time limits for every agenda item.
Begin your board meetings by calling the call to order. This is a simple method to ensure that everyone is present and that the meeting has a quorum (which may vary based on the size of your board).
Facilitate the conversation so that every director gets equal airtime. This is especially important when discussing complicated or controversial topics. A small or even a few of people in a conversation can restrict diversity and lead to rushed, ill-informed decisions.
Establish a clear method for making decisions, including how to weigh the pros and con of each idea. This will keep the discussion focused and productive. If you’re not able to reach a consensus, use a method of voting like a majority https://vdrsystems.com/due-diligence-checklist-for-cross-border-deals/ vote.
It’s a good idea, also, to define specific actions items. These are the specific duties that arise from the discussions and decisions made during the meeting, such as finding information needed for an ongoing project or determining the new steps to implement the new strategy. Respecting the time of your directors and achieving the desired outcomes is demonstrated by finishing on time.