Follow these steps to ensure your board meeting agenda, board deck, and board pack are ready to go for your startup board meeting.
1. Start With a Business Review and Update
Though it’s important to focus on the future, it’s best to begin a startup board meeting by reviewing past events and bringing everyone up-to-date on the organization’s current status. Make this the first order of business on your board meeting agenda. Follow up on plans and strategies enacted at the previous meeting.
2. Review the Startup’s Finances
Next up, review the numbers. It’s imperative that everyone involved understand the organization’s current financial situation. If there’s been a significant change since the last meeting, be prepared to discuss the reasons behind the fluctuations.
3. Address Startup Challenges and Risks
What are the challenges facing the overall industry and your specific company? Discuss the most probable risks and how to prevent them. Presenting sound, actionable crisis and crisis prevention plans gives board members confidence in your company.
4. Vote on Key Business Decisions
Following presentations and discussion of issues and proposals, board members should vote. Depending on the outcome, resolutions may be adopted.
5. Plan for the Next Startup Board Meeting
Organizations move ahead by focusing on the future at all times. Before concluding a startup board meeting, it’s prudent to take a few moments to consider a time, date, location, and key agenda items for the next meeting.
When planning the agenda for the next startup board meeting, consider:
- Plans set during the current meeting that will warrant follow-up status reports
- Questions posed by board members that will require further research