Back or forth?
In your monthly board meetings (feel free to substitute your own label/timetable), what percentage of time is spent analysing the recent performance and results to date?
For many companies the answer is between 80-95% – which is crazy.
If your senior team spends the majority of time together looking backwards, then it’s unlikely you’ll be on the fast track.
There’s a better way.
- Circulate all the historical information in advance, and expect everyone to have read it.
- Have explanatory narrative summarising how/why the numbers are where they are – again, circulated in advance with an expectation it will have been read.
- Ask for any Q’s on the past to be raised prior to the meeting, (and circulate answers, again in advance).
- Reallocate 100% of the meeting to the future.
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