Board Meetings - What to Accomplish

Posted by: cworrall on Friday, May 2nd, 2008

Board meetings for a private company are meant to gather the board of directors periodically to discuss high-level corporate strategy issues. Your board of directors should be a group of five to seven knowledgeable business people who have experience in your business.

When you get together, ask your senior officers to prepare reports that detail the information that the directors would need to make decisions on the direction of the company going forward or to correct or assist in correcting problems that have come up on the past.

In addition to metrics on their divisions, the senior officers should provide a list of items of interest from the past period, what they plan on doing in the next period, and what threats they see to accomplishing their goals. This will allow the directors to discuss whether they think the company is heading in the right direction as a whole.

If you do not have a board of directors, a monthly or weekly meeting with your senior management should accomplish the same thing if they bring you the same information. However, if you are interested in growing the company significantly, you should consider building a board of directors so you have the advice you need to take the company to the next level.

Topics: Corporate, General

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