Board meetings and investor relations can be LOTS of work for a company. If managed properly though they can be a big value add and not a waste of time.
After 17 years, five startups, and countless board meetings as a CEO, COO, and CRO, I am trying to remember a single time when we left the board meeting with new, useful ideas for growing and running the business. As you say, it may have been how we structured the meetings. However, in my experience, most boards have low value-add.
One good thing about board meetings is that they force the exec team to regularly step back and take stock of where they are going and how they are doing. Despite the disruption board prep causes, it's an important exercise.
Another great post (as always).
After 17 years, five startups, and countless board meetings as a CEO, COO, and CRO, I am trying to remember a single time when we left the board meeting with new, useful ideas for growing and running the business. As you say, it may have been how we structured the meetings. However, in my experience, most boards have low value-add.
One good thing about board meetings is that they force the exec team to regularly step back and take stock of where they are going and how they are doing. Despite the disruption board prep causes, it's an important exercise.
Yeah, often may not come away with new insights from board members, but…
As you said, the exercise is good to get management aligned and development strategic ideas
Well-structured ensures the board trusts you and more likely to give you money when you need it
And the added bonus is some good insights from the board conversations :)