Learn how to host an effective startup board meeting by following these mission-critical steps to build your board meeting agenda and deck.
When a new organization is formed, cooperation for planning and executing startup board meetings proves critical to support successful governance. And as a startup organization, there’s much for the board of directors to discuss in the boardroom.
Being tasked with the responsibility of hosting a startup board of directors meeting doesn’t have to seem daunting. It offers a window of opportunity. Becoming familiar with the basic process of board meetings procedure, integrating modern board portal solutions to organize information, and keeping board members on track and engaged benefits your organization’s success and your professional growth.
If you’re new to the process of conducting an effective startup board meeting, consult this practical guide to oversee the procedure easily and effectively.
What is a Startup Board Meeting?
A startup board meeting is a closed session among the members of a startup’s board of directors to plan, review performance, and steer the company or organization to success. They also allow boards to discuss any issues before they escalate.
Managers and executives often attend to present financial reports, strategies, and key performance indicators (KPIs) to help with evaluation, business development, and goal-setting. Discussion topics include budgets, employee compensation, organizational performance, and fundraising. Board members may vote to adopt proposals as resolutions.
How to Host a Startup Board Meeting: Step-by-Step
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
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About The Author
- At OnBoard, we believe board meetings should be informed, effective, and uncomplicated. That’s why we give boards and leadership teams an elegant solution that simplifies governance. With customers in higher education, nonprofit, health care systems, government, and corporate enterprise business, OnBoard is the leading board management provider.
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