Board members are expected to take important decisions. This is the reason it’s essential that your company communicates its essential business information in an concise and engaging manner. This article will walk you through the best methods for writing a successful board report.
Begin with a summary. This is the basis to tie everything together to your audience who is time-poor. It should provide your audience with a taste of what to expect and why they should read the full report.
The core of your report is the next step. Include key metrics and data relevant to your company, such as those that compare to industry benchmarks. Highlight any milestones and accomplishments the company has made, and any challenges which could affect the future performance. Don’t forget about any projects that are coming up that require the board’s financial backing or approval.
Include any high-level risks or opportunities statements the company has identified, and their potential impact. You should present them in a manner that corresponds to the board’s tolerance to risk.
You should conclude with your main points and a clear explanation about the next steps the business must take. The goal of the board paper is to dictate the content – whether that’s to inform the board or, more frequently, to request the decision. This will determine the format of the report, for instance, whether you require a table-of-contents as well as clear headings and bullet points to convey your main points.