What is a key factor to success in Board Work?

BOARD BOOT CAMP

ASHLEY TOTT

@ashley_tott

[email protected]

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