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Preparing For Your First Board Meeting – 4 Actions For A Knockout Performance · Enhance.training

• 0:00
  SPEAKER_00: Preparing for your first board meeting is daunting.
• 0:03
  SPEAKER_00: It doesn't really matter if you've just been promoted into your first board role, or if you're an experienced board member joining the first board meeting in a new company.
• 0:13
  SPEAKER_00: The board meetings in each company are run differently and feel different.
• 0:18
  SPEAKER_00: Some are really relaxed and feel like a regular meeting, some are very structured and formal.
• 0:23
  SPEAKER_00: Some board meetings are very enjoyable and constructive, others feel a bit like a battle.
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  SPEAKER_00: The style of the board meeting really depends on the people attending, the situation the company is in, and what problems need to be addressed.
• 0:36
  SPEAKER_00: The preparation you do for your first board meeting will make a big difference to how well you contribute, your confidence, the impressions others have of you, and how you change the dynamics of the board team.
• 0:49
  SPEAKER_00: I've been attending board meetings for over 12 years in many different companies.
• 0:54
  SPEAKER_00: The situations of those companies ranged from those growing at over 100% per year through to those in real danger of failing in the next few months.
• 1:04
  SPEAKER_00: These companies had sales ranging from 10 million to well over 150 million a year.
• 1:09
  SPEAKER_00: Four key preparation steps I recommend you do to prepare for your first board meeting are firstly be clear on what you bring and what is expected of you.
• 1:20
  SPEAKER_00: Second, four key areas of background preparation to build insights and confidence.
• 1:26
  SPEAKER_00: Third, build relationships with peers before the first board meeting.
• 1:30
  SPEAKER_00: And fourth, how to plan your contribution to each agenda item.
• 1:35
  SPEAKER_00: The impression you create and how you operate in your first board meeting will drive the behaviour of your peers towards you and set the dynamics for future meetings.
• 1:44
  SPEAKER_00: It is so much better to get these in your favour from the very beginning than to try to recover from a slow or poor start.
• 1:52
  SPEAKER_00: The first action to prepare for your first board meeting is to be clear on what you bring to the board team and know what is expected of you.
• 2:00
  SPEAKER_00: You've been recruited or promoted for many reasons, and you clearly have talent and expertise that the other board members think will add a lot to the leadership team.
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  SPEAKER_00: If you didn't, you wouldn't have got the role in the first place.
• 2:13
  SPEAKER_00: Be really clear in your own mind what you bring to the board team.
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  SPEAKER_00: You'll be a functional expert within the leadership team, whether that is sales, marketing, operations, finance, HR, IT, etc., it is likely that you'll be the only person with your technical skills on the team.
• 2:32
  SPEAKER_00: You might also have specific market knowledge, or client relationships that the others don't, or experience of working in specific markets, or specific product or service line knowledge as well.
• 2:45
  SPEAKER_00: Be clear about what you are bringing into the board meeting that others are not likely to have or don't have.
• 2:52
  SPEAKER_00: Think through how your knowledge, skills, and experience are going to be best employed within the board meeting to solve current challenges.
• 2:59
  SPEAKER_00: This is a great place to start your preparation for your first board meeting.
• 3:04
  SPEAKER_00: I would also recommend that you book in a quick meeting with the chairman to find out about how they like to run the board meetings and what they're expecting from you during the board meeting.
• 3:14
  SPEAKER_00: Knowing more about what is expected from you makes preparing for your first board meeting a lot easier, quicker and more productive.
• 3:22
  SPEAKER_00: Find out as much as you can.
• 3:25
  SPEAKER_00: My name is Jess Coles.
• 3:26
  SPEAKER_00: If you're new here, Enhanced.training provides resources and courses for you to build management expertise and confidence to lead any team to their best performance.
• 3:36
  SPEAKER_00: Do visit us at enhanced.training to look at the training and coaching options available to help you or managers in your team gain the management expertise and confidence to lead any team to their best performance.
• 3:49
  SPEAKER_00: The second set of actions to prepare for your first board meeting is to focus on four key areas of background preparation to build insights and your confidence.
• 3:59
  SPEAKER_00: I suggest you focus on these four areas as a minimum.
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  SPEAKER_00: Firstly, the market dynamics and what your competitors are doing.
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  SPEAKER_00: Secondly, understanding the business strategy and why this has been chosen in the context of the market.
• 4:13
  SPEAKER_00: Third, the financial challenges, constraints and goals the business is operating with.
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  SPEAKER_00: And fourth, finally, work out the key activities and results that you and your function need to deliver to support business success.
• 4:26
  SPEAKER_00: The purpose of understanding each of these areas well before your first board meeting is so that you can contribute during the meeting with confidence backed up with knowledge and insights.
• 4:36
  SPEAKER_00: You will also be confident in asking sensible questions and providing challenge to other board members.
• 4:42
  SPEAKER_00: A lot of the board meeting should be focused outwards on markets and customers and what challenges the company is likely to be facing in the next 6 to 12 months time and further out.
• 4:53
  SPEAKER_00: With the background research that you've done and when you've spent the time thinking and forming opinions about how to tackle issues facing the company, you'll be in a great position to fully contribute to board meetings.
• 5:04
  SPEAKER_00: The more analysis and work you put into understanding challenges and forming potential solutions to pressing problems, the more impressive you'll be in your first board meeting.
• 5:16
  SPEAKER_00: The third action to prepare is to build relationships with other board members before your first board meeting.
• 5:22
  SPEAKER_00: Attending your first board meeting is a lot less intimidating when you know the peers in the meeting.
• 5:29
  SPEAKER_00: If you've been recruited to join the board, making the time to really get to know your peers will be high on your list of priorities.
• 5:35
  SPEAKER_00: If you've been promoted into a board role, your task is to recalibrate how your new peers view you, which is a much harder job.
• 5:44
  SPEAKER_00: Book in one-on-one meetings, invite your peers to coffee or lunch, create insights or analysis relevant to them and discuss it with them.
• 5:52
  SPEAKER_00: In short, find ways to spend time with each of your peers on a one-on-one basis before your board meeting.
• 5:59
  SPEAKER_00: Some of the business areas that you should aim to find out more about are firstly, what are their challenges and issues faced right now.
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  SPEAKER_00: Secondly, what are the goals and ambitions for their function, business unit or department?
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  SPEAKER_00: Third, for what do they rely on your functional department for, and vice versa.
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  SPEAKER_00: And fourth, what issues or requests are they bringing to the next board meeting?
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  SPEAKER_00: For all of these, you should try to find ways to help them to reduce their pressure and stress.
• 6:29
  SPEAKER_00: Helping others build favour and goodwill, which you can then use to persuade and get help more easily in the future.
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  SPEAKER_00: Some of the personal areas you should aim to find out about are you firstly what is their style and personality at work?
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  SPEAKER_00: Secondly, what are their personal ambitions and goals?
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  SPEAKER_00: Third, how do they spend their time outside of work?
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  SPEAKER_00: What are their main interests and hobbies?
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  SPEAKER_00: And fourth, who is important in their lives outside of work as well.
• 6:58
  SPEAKER_00: Work on building personal connections and shared experiences to improve the strength of the relationship.
• 7:04
  SPEAKER_00: The better your relationships with board colleagues, the more effective you're likely to be during your board meetings.
• 7:10
  SPEAKER_00: The fourth action to prepare for your first board meeting is to plan your contributions to each agenda item.
• 7:17
  SPEAKER_00: Get the agenda for your first board meeting as early as you can.
• 7:21
  SPEAKER_00: Work through each agenda point and think through.
• 7:24
  SPEAKER_00: Firstly, how can I contribute to the discussion, solution or decision in the best way?
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  SPEAKER_00: Secondly, what analysis or preparation do I need to do so that I can more fully contribute to this agenda point?
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  SPEAKER_00: Third, what conversations do I need to have with colleagues or peers to prepare myself or them or to increase understanding of what the issues and solutions might be?
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  SPEAKER_00: Fourth, what does my team or function need to contribute to this agenda point to achieve the most successful outcome for the business?
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  SPEAKER_00: Another really important question to keep asking yourself.
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  SPEAKER_00: What actions can or should I take to increase the performance of the business in the short term and the longer term?
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  SPEAKER_00: Think in terms of profit and cash generation as much as increasing the business of size to measure the impact on performance.
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  SPEAKER_00: Also, ask to get a copy of the previous board meeting minutes and go through what was discussed and what actions came from the meeting.
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  SPEAKER_00: Make sure the actions that were assigned to your predecessor or your team or function are completed.
• 8:27
  SPEAKER_00: If any remain outstanding, do your best to complete these actions before the meeting.
• 8:32
  SPEAKER_00: Going through previous board meeting minutes will also give you a good indication of the style of the meeting, the topics being discussed, and the actions asked of members.
• 8:42
  SPEAKER_00: When you've taken all these steps, you'll be very well prepared for your first board meeting.
• 8:47
  SPEAKER_00: Turn up early and enjoy the experience.
• 8:51
  SPEAKER_00: So, in summary, preparing for your first board meeting will give you a lot of confidence and equip you to fully contribute to the meeting.
• 8:58
  SPEAKER_00: Setting a very good first impression with peers will help you work with them more constructively, gain their support and increase your influence.
• 9:07
  SPEAKER_00: It is a lot easier and better to work to make a good first impression than work to repair a poor start.
• 9:14
  SPEAKER_00: To recap, the four key preparation steps I recommend you do to prepare for your first board meeting are firstly be clear on what you bring and what is expected of you.
• 9:25
  SPEAKER_00: Secondly, four key areas of background preparation to do to build insights and confidence.
• 9:30
  SPEAKER_00: Third, build relationships with peers before the first board meeting.
• 9:34
  SPEAKER_00: And fourth, how to plan your contribution to each agenda item.
• 9:38
  SPEAKER_00: If you have any questions on preparing for your first board meeting, please email me at support at enhance.training and I'll get back to you.
• 9:46
  SPEAKER_00: Do visit us at enhance.training to look at the training and coaching options available to help you or managers in your team gain the management expertise and confidence to lead any team to their best performance.
• 9:59
  SPEAKER_00: Thanks very much for listening, and I look forward to speaking to you again soon.