what is a key factor to success in board work?
TRANSCRIPT
BOARD BOOT CAMP
ASHLEY TOTT
@ashley_tott
https://se.linkedin.com/in/ashleytott
+46 70 375 7914
Hot dog kiosk 2017 - Owner working in the business
He only worked IN the business for 5 years…
2023
..but if he worked ON the business….
2023
WHAT ARE THE KEY PRINCIPLES?
#1 - Make decisions - the whole reason for working actively with you board is to make decisions. Great ones!
#2 - Diversity
The quality of your decisions will be even greater when you discuss them with others that do not think like you. People who are different.
#3 - Questions - Be Curious And Question. What Is The Purpose Of This Board Meeting? Why? How?
When?….
#4 Roles - Understand the roles in board work really well
1. OWNER 2. BOARD 3. MANAGEMENT
“WE CHOOSE TO GO TO THE MOON”
–JOHN F. KENNEDY, R ICE UNIVERSITY, SEPT. 12 , 1962
OWNER ROLE
Board Deciding the strategy
Photocredit : NASA
Management Executing the strategy
1969 - JULY
Photocredit : NASA
CEO +
BOARD
OWNER
Unfortunately many companies end up in the “Tractor model” - with a weak owner role. This may even happen when the owner works in the business as CEO (but does not do any work in the Owner job).
1. OWNER 2. BOARD 3. MANAGEMENT
1. VISION 2. STRATEGY 3. EXECUTION
1. OWNER DIRECTIVE 2. STRATEGY DOCUMENT 3. ACTION PLAN
BEING AN OWNER IS A JOB THAT PAYS!
SET UP YOUR OWNER WORKFLOW OR
“LOOP”
1 . V IS ION AND FRAME OWNER D IRECT IVE .
2 . DEC IDE THE OWNER TEAM AND ROLES
3 . SET AN OWNER MEET ING PLAN
4 . F INANCE THE BUS INESS
5 . RECRU IT THE BOARD
6 . MOT IVATE , LEAD AND EVALUATE THE BOARD
Employ a board that can deliver a strategy that maxmises your chance
of success. As this picture shows - a simple
decision (before you enter the maze of daily operations) - can save a
thousand hours.
NULÄGESANALYS
BOKA STRATEGI MÖTET
AFFÄRSPLAN
STRATEGISKA BESLUT
BUDGET
GODKÄNNER BUDGET
GODKÄNNER AFFÄRSPLAN
APRIL
NOV