Posted on 16/03/2017, 15:37
So, you have organised your board meeting, invites, the agenda and board papers have been circulated and everyone has arrived on time…. what happens now?
As mentioned in our article “Prepping a successful board meeting” 2 key parts of the meeting are taking minutes and circulating actions – follow this link for handy templates for these tasks. This work is critical to the success of the board meeting: if the actions aren’t followed through the board meeting has just been a talking shop!
There is also a legal angle; in some circumstances the minutes can be demanded by authorities to confirm that the company has been properly run. This is particularly relevant if you sell the company, if the company becomes insolvent or in the event of ‘discussions’ with HMRC. Bear in mind therefore that your minutes may be read by people outside your business who will not be familiar with either your company or the background.
Here are our 9 top tips for making sure that your board gets things done:
a. Decisions reached by the directors – and why those decisions were reached. This is particularly relevant to the circumstances where third parties might need to read your minutes.
b. Actions agreed by the meeting – who should be completing those actions, and when those actions should be done by.
If, in the course of the meeting, either of these aren’t clear to the person taking the minutes, seek clarity! This gives you a great opportunity to check that everyone understood it and also to get your minutes into shape!
Like most other aspects of business, running an effective board is about knowing what ‘good’ looks like and then putting sufficient management process and grip in place to make sure that it happens properly. If you would like help to get your Board working effectively for you, book a free business help session.
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