Whether you need to create a board report for the first time or updating one you have already created, there are certain actions you need to take in order to ensure that your report is in line with the requirements of your audience. Use the following tips to ensure that your board report addresses all concerns they have and gives them the information they need to effectively manage your company.
Know your audience
Take into consideration the specific needs of every member of your board and how they connect to the information you the report. If you have a member on your board who has a finance background they will be interested in the figures on revenue and other financial data. If you have one of your board members who has worked in your field They will want to focus on the latest trends and developments in that market. Knowing your board members can assist you in preparing for their questions and help you prepare for a successful meeting.
Show, don’t Tell
Your board members want to know the truth about the way your business is performing. Be open with them about both the good and bad. This will enable them to make the best choices for your company. Giving only positive or negative information can bias the board and affect their decision making in a negative manner. It’s also important to include negative information in your board report so that the board has all the facts they need to make a sound decision.
https://boardroomlife.com/four-critical-factors-that-impact-nonprofit-success/