You're the founder and CEO of your business and you're the largest shareholder.
You have a Board of Directors, which comprises a non-exec chair(wo)man and other non-execs. You might have been encouraged to create a Board by one of your investors, who waffled on about 'good governance' and who also took a seat as part of their investment deal. Another exec, like your finance director might also be on the Board.
It's common to feel intimidated by a Board - these are experienced professionals and they are there to scrutinise you and your business. You report to them. Right?
Wrong! They report to you, and you set them to work.
The people on your Board are there to help you. They already know that you are capable and you're doing your best. They joined you (and maybe invested in you) because they believe in what you're doing, so you don't have to keep proving that to them. No need for polished presentations showing how everything is going marvellously well. The most productive Board Meetings are those that tackle issues and suck the directors dry of their experience.
How do we get Government contracts?
How do we understand the market structure in Guatemala?
How do we get priority from our chip supplier?
How? How? How?
Help! Help! Help!
So, the next time you have a Board Meeting, by all means present the numbers and give a brief overview of the current status, but then focus on the problems and ask your Board for their practical help and guidance.
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