Before starting Broadlume, I had no idea how to run a board meeting.

Honestly before Broadlume, I hadn't even been in a board meeting let alone knew what it even was and how they worked.

But after 10 years, ~40 board meetings, and $90M raised, I've finally figured out the perfect deck, format, and agenda.

At first, these meetings felt like a waste of time, and a giant hassle but now that we have the right process, these meetings are invaluable.

Looking back I can honestly say that without great board meetings, we would not have been successful.

Here's our formula for the perfect board meeting and some tips/tricks. ??

?? Agenda - Before you do anything, set an agenda/framework that you can repeat every single board meeting. Without a clear and repeatable agenda, these meetings will feel like fragmented conversations rather than long-tail strategy conversations about the company. Our agenda always went like this:

• Minutes, Equity Votes, and State of the Union (15 minutes) - Led by CEO
• Financial Core KPI Updates (60 minutes) - Led by Executive Team
• Break (15 minutes)
• Major Topic 1 (30 minutes)
• Major Topic 2 (30 minutes)
• Investor-Only Board Session (30 minutes)

?? Communication - Monthly board updates build trust and trust is what makes your board operate well. Without trust, you might as well not have a board meeting.

You NEVER want any surprises heading into a meeting. Monthly calls with investors will act as business updates whereas your board meeting will be the time to discuss the updates/strategy in detail. Make sure to keep these calls consistent and use the call before the meeting to review the deck and see what questions/concerns they have before heading into the actual formal meeting.

***Make sure you send the board deck at least 72 hours in advance of the meeting. At this point the board should know what's in there, but this gives them time to review the material beforehand.

?? Independent Board Members - Point blank, they are invaluable strategic assets. Ralph Folz and Dave Balter served as ours, and I couldn't be more thankful. If you don't have an independent board member or they aren't helping you, find a new one ASAP. This is a secret weapon.

• They provide unfiltered insights into the board's thinking and deliver the candid feedback necessary for growth.
• Their perspective helps bridge communication gaps between the company and the rest of the board.
• The best ones are operators who have been there, and care about business growth not venture/PE returns.
• They are there for the founders/company and will fight on your behalf, but they will also tell you like it is behind closed doors.

PLEASE use your independent board member and leverage them as much as possible in meetings. They should know the business deeper than any other board member and they will help you understand perspective from all sides of the table.

?? Empowering Executive Leadership - This is something I learned too late. A well-structured board meeting showcases the entire executive team's capabilities. While the CEO provides the strategic overview and commentary, specific sections should be led by the appropriate executives.

• Financial presentations by the CFO
• Revenue discussions by the CRO
• Operational metrics and KPIs by the COO

This isn't the CEO show and it's definitely not a pitch (I got this feedback a lot).

My first few board meetings I did 99% of the talking and the last few board meetings I did 10% of the talking. Our last few meetings were by far our best ones.

?? Report The News - Board meetings should focus on factual reporting and strategy. If it feels like you are pitching you are doing it wrong. The goal is to present clear, unvarnished information about the company's status and trajectory.

?? Legal and Admin Work - Include company counsel in board meetings. They will happily do it and most of the time not charge you for the time.

• This ensures proper documentation of equity decisions
• They maintain accurate and detailed board minutes
• And they provide immediate legal guidance when needed

?? Documentation and Post-Meeting Workflows - Assign a dedicated team member to document each meeting, focusing on:

• Key discussion points and decisions
• Board members' questions and concerns
• Areas for improvement
• Action items and follow-ups

This documentation helps refine future meetings and prevents recurring issues.

After the meeting, get on a call with your independent board member to get a download of how the investor-only call went, and their unvarnished feedback on the +/- from the meeting.

I am so thankful to our previous and current board members for being on this journey with us... and for dealing with us as we learned all of this ??. Jay Levy Dave Balter Ralph Folz Marco Ferrari Paul Russ TJ Mahony David Frankel Avi Eyal Dan Pratt Ari N. Catherine Faber Sean Bave