You must follow certain steps to ensure that your report is designed to suit the audience, whether you are creating a brand new report or updating an old one. Follow these tips to ensure that your board report addresses all of the concerns they face and gives them the information they need to effectively run the business.
Know your audience
Be aware of the requirements of each member of the board and how they relate to the data you include in your report. If you have a board member on your board who has an academic background in finance, they will be interested in the figures on revenue and other financial information. If you have an individual on your board who has spent their career in the field and is keen to focus on the latest trends and developments within that market. Knowing your board members will help you anticipate their concerns and help you prepare for a productive meeting.
Show, don’t tell
Your board members will be eager to learn the truth about the way your company is doing. Be honest with them, both the good and bad. This will www.boardroomlife.com/introduction-to-virtual-board-meetings/ help them make the most informed decisions for your business. Making sure you only provide positive or negative data can influence the board and the way they make decisions negatively. It is also essential to include negative information in your board report so that the board has all the facts they need to make an informed decision.