The best boards listen more than they talk - but with big personalities - this can be hard to achieve. How can founders make their board an asset rather than an inconvenience?
We have previously written about the huge importance of thinking carefully about the makeup of your board. Having a great board puts you in a great position - but it is still up to founders to make the most of their boards.
Some founders find that board meetings can be challenging to navigate. This is understandable, as board dynamics can sometimes feel more complex than helpful. Yet when founders, as they sometimes do, see their board meetings as hurdles to overcome, this is a missed opportunity given how valuable boards can be.
Board members may sometimes struggle to understand what founders need from them. Some may equate their value with making their voice heard in board meetings and dominate with unhelpful contributions - or they may think their value is in being unobstructive, and so overcorrect and contribute little.
Neither instinct is right: the most impactful boards spend more like 60-70% of their time actively in 'listening mode'. They then use the remaining time to synthesize information and provide targeted advice. This dynamic doesn't happen by accident - it requires intentional effort from founders.
To transform your board from a potential hurdle into a strategic asset, consider the following approach.
Cultivate allies without creating factions
Bringing your board into active listening mode is not just a job for board meetings, it is built on strong relationships with your board members. These relationships lay the foundation for productive interactions and ensure that board members are well-positioned to offer meaningful support.
While you will naturally have a better rapport with some board members, initially it is important to make an equal effort with all board members. You want to avoid the perception of having a privileged ‘inner circle’ - and it's essential that issues best discussed as a group don’t instead end up covered in various 1:1 meetings. Not all board members will want it, but start by offering regular one-on-one meetings with each board member, for example on a quarterly basis.
It may be a time investment, but the benefits it can yield are numerous:
- The sense of connection fostered can put board members in a more constructive mindset for your board interactions.
- It helps you understand the relative strengths and temperaments of your board which is an asset in managing meeting dynamics.
- Crucially, it also helps to keep the board aligned on goals and direction - meaning less time in meetings is wasted on disruptive discussions ironing out misunderstandings and misalignment.
- It provides an opportunity to assess and evaluate board members over time. You never know what you'll experience in the 5-10 years ahead, so it's crucial to understand who is good at playing which role.
By investing time in these relationships, you're not just improving current board dynamics, but also identifying who might become a sounding board or a close advisor to you as your company grows and faces new challenges. Taking the time to really gauge board members strengths and qualities - assess how your relationship grows, but how they respond and support you through hurdles or tougher times, allows you to identify the people who will be your closest advisors and supporters long term.
While short-term priorities can sometimes take time away from these relationships, building an effective and functional board is fundamental to long-term success. External support is important - most multibillion-dollar founders we’ve worked with recognize this and prioritize cultivating these crucial relationships despite immediate demands. Ideally, your board member is someone you bring on through equity, securing their attention and expertise to help drive your company’s success.
The practicalities of handling board meetings
Good relationships lay the foundation for a board that listens and engages effectively. Building on the foundation, there is a lot that a founder can do in advance to ensure that their board spends most of its time listening and engaging constructively.
Preparation is key: many founders invest in well formatted and presented pre-reads (which are important) but other key elements of board management don’t always get the attention they need. This is central to the advice that Hristo Borisov, Founder and CEO of Payhawk, would give founders: “Prepare thoroughly to make the most of face-to-face time. Particularly at the early stages, it is important to build the right frameworks and metrics for the business, so you are speaking the same language.”
“Prepare thoroughly to make the most of face-to-face time. Particularly at the early stages, it is important to build the right frameworks and metrics for the business, so you are speaking the same language. ”
Hristo Borisov, Co-Founder and CEO of Payhawk
We have collated a list of the things we would advise our founders to do when preparing for and running board meetings. When preparing for a board meeting, the following are the recommended steps we would follow:
- Choose the right 2-3 issues per board meeting
As a founder, you will have dozens of live issues that need your attention, but you can only get meaningful input on 2 or 3 in a board meeting. Think about which issues are most important—and which the board is most likely to provide value on—and prioritize. Set an explicit personal goal for the resolution you want to achieve from each of these issues.
- Ask yourself whether the board has the necessary context for these priority issues
To gain the valuable contributions you need, your board needs to be set up for success. Consider the specific information and background they need to engage fully on these issues and provide it in advance, so they have the opportunity to prepare and offer meaningful insight.
- Make a pre-read your board members will actually read
Sharing the context is essential, but if you dump information on them, time-poor board members will not engage. Ensure pre-read materials are concise, well-signposted, and clearly indicate their relevance. Consider incorporating key information into an email message for important topics.
- Don’t assume shared understanding
Companies use different terms, and calculate KPIs in different ways - and your board will generally be further from the detail than you. Particularly when you have started using new terminology, or there are newer board members, go to the effort of briefly defining key terms and KPIs up front.
- Think about when you need to ‘broadcast’ vs ’discussion’ mode
When planning the session, think about what you want to achieve from every agenda item. For some it will be simply broadcasting information to the board, keeping them in the loop - where you want input, be crystal clear on your desired outcome.
- Plan the time you have
The worst outcome is to need your board’s input and fail to get it, especially due to time constraints. Think through the flow in advance and assign estimated times to each agenda item, not to rigidly adhere to these numbers, but to ensure you are conscious and deliberate about how time is used throughout the meeting.
With careful planning, you'll find that the time spent in board meetings significantly decreases as your sessions become more effective.
Following these steps will set you up for success - but there is also an art to managing the board meeting itself in the room. Particularly when you are facilitating discussions on the priority areas identified, it is important to actively manage the flow. We have put together the following hints, based on our experience of board meetings, that we believe founders can use to get the most out of their board sessions.
- Don’t be afraid to direct the conversation
You're in charge of the meeting, and as a rule of thumb, it is fine for you to cut to the chase, and be clear about what contributions you need to achieve your meeting objectives. If a board member skips ahead, goes off-topic, or has clearly not been listening fully, bring them back. If they start discussing a topic before they have all the context, politely ask to finish.
- Clarify the purpose of each topic
For each item, let your board know up front if it is information sharing or if you want input (and if you do, what input). Everything comes down to this distinction. Even when information sharing, be conscious of the room. Look for signals that they are alert and listening.
- Bring in your C-level team
For certain sections of the board meeting (sales, marketing, etc.), consider bringing in your C-level team to present where they will be best placed.
- Set clear expectations with your board
For issues where you need time, be clear about it. For example, "We know the problem, we are on it, I need time to show results."
- Spotlight key context from your business - even negatives
To ensure that your board has a balanced view and can be genuinely helpful, it’s essential to share both the highlights and lowlights of your business. While there might be an instinct to focus only on the positives, transparency will foster better, more informed feedback.
- Balance information sharing with discussion
Alternate between broadcasting, where the board needs to just listen and absorb, and focused discussion where you are eliciting their input. Spending too long at a time information sharing will risk your board becoming passive, whereas eliciting their input regularly will keep them engaged and actively listening.
- End with reflection
Consider ending with a reflection period, allowing board members to share their key takeaways. This gives you valuable insight into how your board is thinking about the issues discussed.
- Ensure opportunities to speak
After you have given the necessary context and introduced a topic, give each board member a chance to share their initial thoughts before open discussion. To do this, consider implementing a "two-minute rule" for initial comments to encourage focused contributions.
- Get the best out of strong personalities
Big personalities can bring huge energy and insight - but they need to be channeled effectively. To harness their contributions without letting them dominate the conversation, plan ahead for where their input will be most valuable. During the conversations, consciously channel their contributions, inviting them to actively engage where you most need them.
- Post-meeting follow-ups are equally important
At the end of each topic or meeting, articulate precisely what you need from each board member. This could range from specific support to clear next steps or areas where you need their expertise. This ensures continuity between board sessions and keeps feedback focused on strategic areas that matter. Send a concise summary of these key decisions and next steps, with action items and clear timelines.
For Emre Tinaztepe, founder and CEO at Binalyze, the overall key tip for founders is to “foster transparency and open communication - sharing both good and bad news, and keeping the board informed to prevent surprises."
“Foster transparency and open communication - sharing both good and bad news, and keeping the board informed to prevent surprises.”
Emre Tinaztepe, Founder and CEO at Binalyze
Remaining in the driving seat
Many founders see board meetings as, at best, a recurring distraction and, at worst, an obstacle. Yet, it falls to the founder to make these meetings valuable. Since they’re non-negotiable, the focus should be on extracting maximum benefit. When managed well, board meetings become streamlined and impactful, serving as a rich source of insight, knowledge, and expertise rather than taking time away from core priorities. The insights we’ve shared are intended to help founders unlock this potential.
Overall, founders need to remain in the driving seat, focusing on clarity and direction to create the conditions for constructive dialogue. As Emre says, “Use their expertise to your advantage and ask for their input - but do not forget that you are the founder, the boss”. Maintaining this dynamic begins with building strong relationships and continues through to the follow-up actions after each board meeting. By taking this proactive approach, where you get your board in the right place to listen and engage, you gain a strategic advantage.
Ultimately, fostering a board that spends most of its time in 'listening mode' allows for a more constructive partnership and results in you running an effective board- and can turn boards into more useful ones.
