Board Meeting Optimizations
News, insights and updates from the team at Bloom Equity Partners
Happy Friday Founders & Friends!
Welcome back to The Weekly Bloom!
We’re switching things up, so here’s what we’ve been reading and listening to recently..
📚 Demystifying Capex in Software Investing
Insights and quick takes
In one of our latest newsletters we shared some quick takes on board meeting optimizations. Before diving into this weeks insights, make sure to give it a read 👇
Board Meeting Optimizations Tactics for CEOs
While scouring the web for some read-worthy operational insights, we came across an article from Stanford business school professor, David Dodson.
From operational tactics to investor insights, David’s writings are top notch. They range from ‘Standardized Approach to Hiring’ all the way to ‘Investor Reports for Early CEOs’. In this week’s weekly bloom, we wanted to share some quick takes from his Guide to getting the most out of your board meetings.
Scheduling
Try to schedule the full year of board meetings before the first one takes place and aim to be at least 6 months out with scheduling.
Schedule meetings online when possible and provide plenty of available options to avoid back and forth with board members.
Consider dinner and social time with board members less frequently.
Location
Location choice should be based on whatever maximizes in -person attendance.
Frequency and Format
Aim to have board meetings once every quarter and towards the end of the month so the prior months financials are available.
Interim check ins are important for early stage companies.
Organization
designate a “lead” board member position to someone who will provide feedback on the content and processes before and after each board meeting. If this affects board dynamics, at least consider having a “go-to” board member.
Allow time for an executive session where board members can meet without any management presence.
Content
Focus all board materials around the companies goals and objectives.
Avoid overcrowding the meetings and focus on high impact areas of the business.
Delegate preparation to other executives and high ranking members of the team.
Source: Guide to getting the most out of your board meetings, David Dodson
If you enjoyed some of Davids’ insights make sure to check out the full essay below:
📚 Guide to getting the most out of your board meetings
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About Bloom Equity Partners
Bloom Equity Partners is a lower mid-market software-focused private equity firm, leveraging deep operational and commercial experience to create enduring market value for the benefit of our investors, founders, and their companies.