🏂Board meetings

Preparation is Key

Slides Preparation

We believe in the power of preparation. The slides for the board meeting should be an extension of our weekly executive staff meetings, ensuring continuity and relevance. This means very few new slides are needed, as the discussions should revolve around ongoing strategic themes and operational updates.

Advance Sharing

The link to the Google Slides presentation is shared at least 24 hours before the meeting, ideally 2-3 days in advance. This allows board members to review the material, pose questions, and suggest updates beforehand, making the actual meeting more focused on strategic discussions rather than updates.

The Structure of the Meeting

Opening and Strategic Focus

The CEO opens the meeting, setting the stage for strategic discussions. The main objective is to seek strategic feedback on the top 1-3 strategic questions facing the company. While updates are necessary, the bulk of the meeting should be dedicated to engaging with board members on these key strategic issues.

Inclusion of Key Team Members

For discussions on specific strategic topics, relevant team members may be invited to provide insights, ensuring that the board has all the necessary information to offer meaningful advice.

Key Slides and Discussion Points

1. CEO Overview: A candid look at what's working, what's not, and the milestones critical for the next funding round. A color-coded (red/yellow/green) status on each milestone provides a clear snapshot of progress.

2. Board Business: This includes approval of prior minutes, option approvals, and any open legal questions, taking advantage of the presence of company counsel.

3. Metrics Update: A deep dive into the company's key performance metrics, customer satisfaction (NPS), retention rates, unit economics, and scaling plans.

4. Iterations: Updates on product and go-to-market strategies, highlighting recent changes, their impact on key metrics, and future plans.

5. The CEO's Key Responsibilities: As outlined in the "Founding Book," by Tim Connors, focusing on culture, hiring, operational plans, and financial management.

6. Culture and Team: An overview of the company culture, current organizational structure, hiring plans, and team dynamics.

7. Financial Health: A critical look at the company's financial trajectory, including cash flow, burn rate, and the roadmap to breakeven and beyond.

8. Conclusions and CEO Feedback: A wrap-up of the meeting, focusing on the strategic input received on key questions and next steps.

Closing the Meeting

The CEO concludes the meeting with board members and company counsel only, ensuring any sensitive topics are discussed privately. This also provides a moment for the CEO to receive direct feedback from the board.