More Related Content Similar to TCN on Air: Everything You Were Told about How to Build a Board was Wrong (20) More from The Capital Network (20) TCN on Air: Everything You Were Told about How to Build a Board was Wrong2. WE NEED TO BE CLEAR
Public, private, family owned, venture-backed, etc?
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3. In my belief, they are
fundamentally
different!!!!!!
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And the answers to many of the questions I would
ask, would be different for each.
12. Sounding Board
For you and your senior managers, helping you set your
company’s top strategic goals and challenges and advise
management about execution
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18. Bad…….
1. The board is set up for “control” or other “non-
impact” purposes.
2. Board members are not committed to spending the
appropriate time and energy to participate and be
helpful.
3. One or more board members monopolizes the board
discussion.
4. Board members are not aware of or not held
accountable for what’s expected of them.
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19. BAD……Part 2
5.There is poor alignment between various board
members around the company’s short-and long-term
goals and aspirations.
6. The management team does not properly prepare
the board to have a meaningful conversation about the
company and its markets.
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20. Charm’s Main points
The more time spent on financial statements, the less
the meeting accomplishes
The more the board understands the metrics of
prediction, the better the discussion .
Running the meeting is very important
Term Limits are critical
The board needs to be involved in the strategy
discussions way earlier than CEO’s allow or think about
If there are outside investors, every meeting can not be
a scorecard on the CEO
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22. AGENDA
1. #####
2. Issues that concern CEO
3. Issues that the board thinks are
important
4. Senior management team rotate
throughout the year
5. Other…….
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23. What one factor will most
influence whether or not a board
succeeds?
©2014lescharm 231%
10%
17%
18%
23%
31%
creating the board at the right time
other
Having the right mix of management,
independent, and investor board
members
Having effective board meetings
Having a cohesive board
Having diverse board members with
the right skill sets and experience
25. Four to eight hours per month for board-related
activities and responsibilities
One day per quarter for on-site board meetings
A couple of hours per month to provide ad hoc
operational or strategic advice
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26. Charm’s point of view
For private and family-owned, there are no votes….
whether formal or informal
Major job, help the CEO with what he or she thinks is
important at the moment and ( sometimes point out
other issues that should be discussed)
Running the meeting is most important along with
boards expectations.
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