1. Thoughts on
Managing a Board
of Directors
My “Top 10” List Dr. Michael R. Burcham
e. michael@michaelburcham.com
w. www.michaelburcham.com
t. www.twitter.com/michaelrburcham
f. www.facebook.com/michael.r.burcham
l. www.linkedin/in/michaelburcham
2. 10
Rules
Managing a Board of
Directors
1. NEVER have the board meeting "at" the board meeting. ALWAYS call
every director a few days before the meeting and run every important
issue by them to get their input. Update them on company performance,
especially the bad news, and let them "beat you up" privately. The
meeting can then focus in a constructive fashion on problem-solving and
building the Company for the future.
2. Maximum PowerPoint show is four slides from any presenter, especially
yourself. This should be the limit of director interest in detail.
3. Provide complete access for the board to everyone and everything in the
Company. They will rarely use it, but it's a great comfort to them to know
you are not trying to hide anything.
3. 10
Rules
Managing a Board of
Directors
4. Have your key team members do almost all the presentations. It gives
them exposure and allows you to make sage comments along with the
rest of the board. A perfect board meeting is when 10% of the talking is
done by the CEO, 60% by the team, and 30% by the directors.
5. Carefully consider every director's input and take good notes at the
meeting. These people have lots of experience and many great
contacts. But you make the final decisions (and if you don't, they will start
to look for someone who will).
4. 10
Rules
Managing a Board of
Directors
6. Give the Directors projects in their areas of expertise. It's free consulting
and they usually do a good job. It provides a way to contribute to the
business that is meaningful and provides a way for them to “buy in” to
the overall strategies.
7. Get in front of the board on tough decisions like top management
changes, including changes to your own role. If it's going to happen,
make it your idea.
5. 10
Rules
Managing a Board of
Directors
8. For VC directors, try to picture how they are describing your Company to
their partners, and what questions their partners are asking. Your job is to
make each director a hero to their partners (or corporate boss).
9. Remember it's Company first, team second, you last. You win when
everybody wins, not when just you win.
10.Try to make a friend of every board member. Send them interesting deal
ideas you turn up, learn about their interests, make the board a "look
forward to" experience for everyone.
Hinweis der Redaktion
Good afternoon. Thank you to the Rotary Club for this opportunity.Your interests, hobbies, travel, a little of your personal story -- small town boy; find ways to be playful, funny, and make a personal connection.I am Michael BurchamI am a Serial EntrepreneurAnd I AM MUSIC CITY