who should hold board meetings?
Many business owners believe that they’re too small to hold board meetings, but that simply isn’t true. Businesses of all shapes and sizes benefit from quality time working ‘on the business, rather than in it’.
For the smaller business, the owner can be quite isolated and consumed with the day to day running of their company. Larger businesses also benefit from the external views and specialisms that board members bring to the table.
There’s no obligation to appoint other directors – you can simply pull together an advisory board of people whose opinions you value. Alternatively, you may simply just want to have one person to act as a sounding board.
why are board meetings needed?
Statistically, businesses that hold board meetings are more successful that those that don’t. That’s arguably a very good reason in itself!
Holding regular meetings means that business owners can:
- get constructive feedback
- bounce ideas off others
- keep themselves focused on the important aspects of their business, not just the time-consuming urgent tasks
- receive help when it’s needed.
Be strategic about who you invite. There’s little merit in having mirror images of yourself, and neither do you want the meetings to become a talking shop.
how can Mitten Clarke help?
Our directors have strong commercial backgrounds, having spent many years in industry themselves before Mitten Clarke. This experience, together with years in practice looking after businesses like yours, is invaluable.
At board meetings our help and advice can often include, but is not limited to:
- strategy and longer term planning
- raising finance
- identifying profit improvement potential
- introductions to experts in various fields when needed
- interpreting the management accounts and KPIs
- asking challenging questions
- keeping you on track
- giving you help when you need it.
You are welcome to use our office facilities in Staffordshire for these meetings, and any other meeting where you feel it’s useful to get away from your own office.