Whether you need to create a board report for the first time or updating an existing one, there are certain steps you should take to ensure that your report is in line with the requirements of your audience. You can use the following guidelines to ensure your report addresses all of the concerns they have and gives them the information they need to effectively run the business.
Know your audience
Think about the individual needs of each member of your board and how they will connect to the information you display in your report. For example, if you have a member of your board who comes from a finance background, they will be more interested in hard numbers for revenue as well as other financial information. If you have a member of your board who has been working in www.boardroomlife.com/introduction-to-virtual-board-meetings/ your industry for many years they’ll be interested in the latest trends and developments. Knowing the members of your board will aid you in anticipating their questions and help you prepare for a productive meeting.
Show, don’t tell
Your board members will want to know the real-time information about how your company is doing. Be open with them about both the good and bad. This will allow them to make the most informed decisions for your organization. Giving only positive or negative data could influence the board and the way they make decisions in a negative manner. It is also essential to include the negatives in your board’s report so that the board has all the facts they need to make an informed decision.