Board Meeting 101

Company Name
Board Meeting
Place
Date
Time
Tip: Avoid Dial in number and make people show up

Agenda
Board Business
Finance & Admin Update
Business Update
CEO Update
Functional Update
StrategyBrainstorming
Closing
January 19, 2010
2

Board Business
Previous Meeting Minutes
Resolutions
Options grants
Tip: describe who hiring and why, include a cap table and an ongoing analysis of usage
Secret tip – always have an option usage forecast in the back so board knows status of option pool
Other Issues
January 19, 2010
3

Business Dashboard
Key Metrics Dashboard
This slide should be EVERYTHING board needs to understand state of business
Tip: They should be able to leave, zone out after this slide
Agree on metrics, never change format
List performance against plan, when necessary short commentary describing variances
January 19, 2010
4

Finance – Current Month “Flash”
Light summary of current month revenue/expenses vs. plan
Explain variances at high level
Light summary of next months revenue/expenses vs. plan
Explain variances at high level
Other Finance related accomplishments and admin items
January 19, 2010
5

Financial Review Details
January 19, 2010
6
Place “light” version of current financials here
Tip: Simple P&L that highlights key points
Tip: Not an eye chart font
Put in the appendix section
Cab table
Balance Sheet
Headcount summary vs. plan by function
Detailed “eye chart” P&L and Balance sheet
tip always cast against plan

Company One Pager
Simple slide outlining high level positioning
Key differentiators/points of innovation
Tip
I like it to keep everyone up and down the business “on the same message”
January 19, 2010
7

Business Update – Key Progress
CEO update
Key items that board should be aware of
Accomplishments
Challenges (HAVE CHALLENGES)
Tip: focus on the challenges, wins take care of themselves
January 19, 2010
8

Validation/Lessons vs. Key Assumptions
For early stage startups only
Outline 5-10 key assumptions about the business
Focus on those that drive strategy, biz plan, investment thesis of board members, metrics, etc
Chart progress, share leanings against them
January 19, 2010
9

Business Function Updates
Rotate functions for a deep dive each meeting
Sales should always present
Pipeline, key wins/losses, lessons, funnel analysis, etc
Add in monthly rotation of other functional groups
Product, marketing, engineering, operations, etc
Or Customer Discovery, etc if you like those groups better
Everyone should be as factual, data driven as possible
Base presentation on state of business, area of focus, etc.
January 19, 2010
10

Strategic Conversations/Brainstorming
Have a series of strategic slides
Keep them simple, not a McKinsey report
Meant to drive dialog/brainstorming not a presentation
Limit to 1-3 topics per meeting
If you have a good board, focus 60%+ of board meeting energies here
Why?
Get their ideas, experiences
Make sure board understands strategic questions
Get buy in on key issues
January 19, 2010
11

Closing
Review Action Items
Next Meeting
Breakout session
Committee meetings (audit, compensation)
Board only session without management
January 19, 2010
12

Appendix
Financial Details
P&L
Balance Sheet
Cap table
Any other key financials
Other Materials
Marketing (competitive analysis, coverage, etc)
Engineering (project plans, key wins)
Sales (pipeline if not covered above)
January 19, 2010
13

Board Meeting 101

by evan schumacher on Jan 19, 2010

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