Small businesses are often managed and majorly owned by a family. Who better to trust with something as important as your livelihood than your loved ones, right? Family-managed businesses, however, have some implications that set it apart from other types of businesses, one of which is the holding of board meetings.
Prepare Your Family Board Meeting Agenda
Conducting a meeting with your loved ones can be fun. However, too much comfort can distract you and your family from the purpose of your meeting. Preparing an agenda for your family board meeting can help you keep track of the progress of your meeting. It will also give you a direction on the things you need to discuss and streamline processes. Here are some important things that you should include in a meeting agenda:
Date and time of the meeting
Topics to be discussed
People responsible for each topic
Allocated time for each topic
People expected to attend the agenda
Follow The Meeting Schedule
You should arrive on time at the venue of your board meeting. During the actual conference, try as best as you can to follow the schedule that you have set up. By doing so, you can save time and allocate more time to more important subjects in your meeting. Here is a step-by-step procedure on how to formulate a meeting schedule:
Step 1: List all the topics that will be covered during the meeting. Try to be as specific as possible. Also, arrange the topics in a way that the flow of discussion makes sense.
Step 2: Create a schedule that you will use to determine the amount of time needed to discuss each topic thoroughly. It is better to do this with someone to increase the accuracy of the schedule. Also, add an additional allowance time buffer for each topic. Adding an allowance time buffer will reduce the probability of underestimating each subject.