10. Board meeting best practices 5 Send Board materials at least two days in advance and expect/demand Board members to have read and thought through them. No laptops, no smartphones. Begin with the update / management recommendation section, quickly move through any outstanding questions or issues. Leave the majority of the discussion to high-level, critical business issues. Introduce these on a single slide – aim for 3-5 discussion topics. At the end of each meeting, assign responsibilities to each board member and make note of them in a shared space. Review previous Board meeting assignments.
11. The importance of Board dynamics 6 A startup inevitably faces very tough decisions with and alongside the Board of Directors. Building trust between and within management and Board members is key to successfully negotiating these critical moments. – Bryan Birsic
12. Rules for making your Board work for you 7 Run the meeting – Every Board member has thoughts on your product roadmap and what feature her daughter dislikes, be strict in focusing them on the areas they should be adding value. Demand preparation – Run the meeting as though everyone’s reviewed the update materials (financials, 409s reports, option grants, new hires/comp). Make it awkward for a member who has not. Ask for tangible value – List the ways each member can add value each meeting, whether it be introductions to potential hires/acquirers/biz dev partners or connecting with portfolio companies that are making a marketing channel work you haven’t yet cracked. Hold each member to this list. Build relationships - Develop strong bonds between and within the Board with events, dinners and experiences.