In this episode, Mike and Ryan share insights into the value of board reports and external advisors. Having both chaired for other organisations and their own, they share their experiences and offer advice for listeners who might not currently have board structures in place.
They talk about the value of having external advisors and offer insights into how they bring different perspectives, unbiased viewpoints, and help to avoid groupthink. Mike shares his advice on what an external advisor provides in a framework he refers to as the bright light, clear mirror and the kick in the pants.
Ryan shares his thoughts on the value of having board reports. For him, they offer a forced reflection not only from a financial perspective but from a people, capability, customer and partner perspective. The monthly forced discipline of reviewing performance, discussing barriers facing the business, strategic goals, reviewing important goals and lastly agreeing on what needs to be done to improve performance, is invaluable.
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