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