Startup Board Meeting Requirements

The board of directors will guide your company through the most challenging growth phases. They then need to come up with strategies and approve action plans that ensure your company’s success. This is the reason that effective and efficient meetings of the board are so important. To ensure this, it is crucial that certain rules are adhered to during the meeting.

The first requirement is to inform attendees in advance of the meeting. While this could vary based on the size of your business five to seven days is generally considered to be a reasonable amount of time. This gives attendees the opportunity to review the board’s agenda and then attend the meeting in person or via video, and participate in a productive conversation.

In the board meeting itself it is important to have an agenda that outlines specific goals and sets strict time limits for each item. This will help keep the meeting clear and allow everyone to contribute in a meaningful way. The agenda should include a complete list of any documents that require to be approved or discussed. This will give participants a sense that the board has taken into consideration important aspects of the company’s growth and isn’t taking shortcuts.

It is a good idea to avoid discussing irrelevant issues at the board meeting, however this isn’t always possible. To mitigate this issue it is important to promote a discussion culture where all opinions are accepted and valued. This can be done by incorporating tools like decision matrixes into your board meetings.