Your board of directors exists to keep your company on track and protect shareholder interests. They’re not there to run the business day-to-day – that’s your job as CEO or director. But they do need to make sure you’re delivering on your goals.
The Institute of Directors puts it well: “Successful companies use board meetings to create and improve key business strategies.”
How you run these meetings matters. Here’s how to get them right.
Get Your Papers in Order
Benjamin Franklin said it best: “By failing to prepare, you are preparing to fail.”
The Agenda
Your board needs a clear agenda. Cover topics in enough detail to make them meaningful and prioritise what matters most.
The Board Pack
Send papers well in advance. Board members are busy – 24 hours’ notice isn’t enough. They need time to read, think, and prepare proper input.
Having a reliable system to distribute papers makes a real difference. Tools like Governance360’s platform mean everyone gets what they need, when they need it, securely.
The Minutes
Keep minutes of every meeting. They don’t need to be novels – just capture key points, decisions, and actions.
Minutes also serve as evidence in audits or legal matters, so get them right. Write them up, circulate them promptly, and store them securely.
Set Clear Objectives
Good board meetings help companies work out a strategy and execute it. Here’s what to focus on:
Agree Strategy and Check It’s Working
Management should present strategy proposals early in the planning process. This lets the board give feedback and direction.
The board needs to understand:
- What drives your business (product innovation, cost efficiency, market position)
- Your strengths, weaknesses, opportunities, and threats
- Changes in your industry and marketplace
- Whether operations match the agreed strategy
Monitor Financial Performance
Put financial reports on every agenda. Compare income and expenses against budget. Discuss what’s working well and what isn’t – it helps measure performance and plan future budgets.
Handle Compliance Properly
Make sure you cover:
- Legal requirements (Companies Act, health and safety)
- Directors’ conflicts of interest
- Industry codes of conduct
- Customer compliance requirements
Use Your Non-Executives
Non-executive directors bring fresh perspectives. Use them as sounding boards for new ideas and alternative approaches to problems.
Run the Meeting Well
You’ve sent the agenda, circulated papers, and set objectives. Now make sure the day itself runs smoothly.
Your preparation does half the work. Board members should arrive knowing what you want to achieve, which topics matter most, and with time to have prepared.
The chair controls the flow. They set the tone, keep discussions on track and on time, make sure everyone gets to speak, and summarise key messages for the minutes.
Finally, sort out the basics. Nothing kills a meeting faster than dodgy internet, failing PowerPoint, or terrible coffee.
Want to improve your board meetings? The Governance360 platform includes resources on running effective meetings, secure board paper distribution, and tools to keep everything organised. Visit governance360.com to learn more.
For further reading, visit the Institute of Directors at iod.com.