WHAT IS AN ADVISORY BOARD?

• Hand selected group of advisors

that align to the holes and goals of

your organization

• Traditionally, no fiduciary

responsibility

• Experienced experts that have

already accomplished what you

are trying to accomplish

• An extension of your brand; a

dedicated group of ambassadors

for your organization

WHAT MAKES A GREAT ADVISORY BOARD?

• Structure

• Clearly defined roles

• Clearly defined responsibilities

and swim lanes

• Accountability

• A board leader who listens and

implements

• Experts who show up and are

invested in the success of the

organization and its leaders

CANDIDATES: WHAT TO EMBRACE AND WHAT TO AVOID

• have previous board service

• have accomplished what you are

trying to accomplish

• are available to serve

• are participatory

• are willing to challenge your ideas

SEEK OUT CANDIDATES THAT:

SETTING UP YOUR ADVISORS

FOR SUCCESS

• Clearly define what you need;

create swim lanes if possible

• Heavily vet for industry experience,

skill set, cultural fit, level of

availability

• Over communicate expectations

• Provide read-ahead information at

least one week in advance of the

board meeting

• Set all yearly dates at one time

• Do one-on-one check ins with each

advisor throughout the year

LEVERAGING YOUR ADVISORS• Create dedicated swim lanes that match up the

organization’s needs with the advisor’s strengths

• Become comfortable in reaching out and

asking for help in between meetings

• Consider their input for every difficult business

decision

• Engage them in internal strategy meetings,

all-hands meetings, and company events

• Think of them as a brand extension

TENURE: HOW LONG AND WHY

• One year with a performance-

based agreement

• Evaluated in a performance-review

style meeting based on

mutually defined objectives and

deliverables

HOW TO GRACEFULLY EXIT BOARD MEMBERS

• Perform an Exit Interview

similar to off-boarding

an employee

• Keep the door open for a

future relationship

• Keep feedback focused

on the goals of the board

BOARD CHAIRS:THEIR ROLE AND WHAT TO EXPECT FROM THEM

Non-Negotiable Traits of a Board Chair

• Exceptional commitment to the organization

• Exceptional leadership qualities

• Personal integrity: subjugating their own agenda

for the greater good of the organization

BOARD CHAIRS:THEIR ROLE AND WHAT TO EXPECT FROM THEM

Additional Board Chair Traits

• Approachable

• A great listener

• An objective thinker

• A strategist

BOARD CHAIRS:THEIR ROLE AND WHAT TO EXPECT FROM THEM

Board Chair Functions

• Serves as the contact point for every board member

on board issues

• Sets goals and objectives for the board and ensures

that they are met

• Ensures that all board members are involved in

committee activities; assigns committee chairs

• Holds board members accountable to attend meetings

BOARD CHAIRS:THEIR ROLE AND WHAT TO EXPECT FROM THEM

The Board Chair as the Facilitator

• Trained/skilled in facilitation

• Ability to create a purposeful agenda and follow it

• Ability to engage each board member in deliberation

• Ability to control dominating or out-of-line behavior during

meetings

BOARD CHAIRS:THEIR ROLE AND WHAT TO EXPECT FROM THEM

Care and Feeding of the CEO Relationship

• Both are committed to fulfilling the organizational

mission

• Both have highly influential positions and responsibility

• Regularly scheduled, open communication is mandatory

• People change but the positions remain; each partner

must be adaptable and flexible

BOARD CHAIRS:THEIR ROLE AND WHAT TO EXPECT FROM THEM

Assigning Support Roles

• Timekeeper: Times participants when they speak to

ensure they follow set time frames.

• Process Monitor: Monitors the group’s interaction and

its adherence to the process/ground rules

• Reporter: Takes notes throughout the meeting;

summarizes action items

Roles enforce structure and increase participation.

BEST PRACTICES FOR RUNNING A BOARD MEETING

HOW TO RUN A GREAT MEETING• Send out succinct information in

advance

• Include “need-to-know” information

(financials) and value-add information.

• Think Mobile: Assume your board

members will access your information

on a mobile device. No links or big

files.

• Manage presentations tightly.

• Start on time; end on time. (Length

dependent on frequency and agenda)

• Control the meeting.

GROUND RULES: THE 4 C’S

• Command absolute confidentiality.

• Communicate respectfully.

• Commit to the agenda process.

• Care for board health.

BOARD PITFALLS TO AVOID

• Cancel meetings

• Don’t implement ideas

• Favor advisors

• Don’t provide read-ahead

information, or follow-up

information

• Let an inactive/

non-contributory board

member remain on the

board

SHARE & SOLVE• Integrating new

members

• Self-focused

• Not engaging others for

feedback

• More complaining than

problem-solving

• People leave early

• Some board members

monopolize meeting