Of Board Meetings and Success

Board meetings.  Love them or hate them, they are a part of every company, non-profit and investor’s life.  With one exception (we’ll get to that later), I have loved every board of directors I have been part of whether as CEO or a board member or Chair in good times and bad. More importantly, I believe there is a strong correlation between the company’s success and how well it integrates the Board and Directors into its functioning.  I base this on over 20 boards on which I have been a member over a 20 year period.   With only one exception (see the end) the companies (and nonprofits), where there has been the most frequent board member interaction have been the most successful.  The entities where interaction has been quarterly and formal only have the highest rates of failure including bankruptcy.download full movie Hacksaw Ridge So what characterizes a high-functioning board and how does it help make a company successful?   Primarily it’s members who: 1.)  Know they are all on the same team  and do everything they can to ensure the success of the entity.   This is all about attitude and knowing it’s not about control, it’s about success.  The CEO can set this tone by holding a board dinner at the inception of a new board (or board member) where everyone can get to know each other while breaking a little bread. 2.)  Respect and leverage each other’s strengths.  For a CEO, a good board is like having 60-80 years of experience sitting around the table with you. WOW right?  CEO’s that leverage that, have an...