NED for Independent Marketing, Media and Digital Companies & Agencies
When you work with Boardroom Advisors, we provide you with the knowledge, team, and resources to help you quickly achieve your goals. We know that your organisation faces many challenges, and whether you need help clarifying your strategy, finding opportunities, stabilising your finances, making your marketing as effective as possible, or improving your client services, we can help your organisation perform at its best.
Boardroom Advisors provides independent agencies with both NED’s and Board members – key team members who can help you keep your business on track and make crucial decisions when needed. In fact, a Non Executive Director helps to provide insights through an outsider’s perspective, solve problems, and help your agency keep an eye on the future, rather than day to day operations, on a monthly basis.
How does Board advisory work?
We provide agencies with Board advisory designed to suit their specific wants and needs. For example, if you would prefer for your Non Executive Director to talk through an issue with you, leading you organically to a solution, we can do that. We can also, if you prefer, simply provide you with direct feedback and answers to your questions – no matter how tough they are.
How do I make Board meetings for my agency as effective as possible?
First of all, you should have a sense of the issues you want to discuss during the meeting, then use this information to set your agenda at least several days in advance. This helps set everyone’s expectations as to what needs to be discussed, as well as gives attendees the opportunity to review relevant documents, ensuring they’ll be ready to discuss key talking points.
Your agenda should change based on how your agency is developing, focusing on areas where you’re seeing either a major opportunity or an underperformance that needs to be addressed.
If you work with an NED who attends your Board meetings, be sure to add any questions you may have for them, as well as issues you may want their help in resolving, to the agenda in advance.
What documents should I provide?
It’s crucial to bring reports to your Board meetings in order to give an accurate survey of the state of your agency. You want to be able to provide data to help address key issues and challenges to be overcome as well as opportunities and how to make the most of them.
At each meeting, you should provide:
Finance reports for the previous month or quarter, including:
- Profit & Loss for both the month and the year to date against budget
- Balance Sheet
- Debtor and Creditor reports
- Cashflow forecast for the next quarter
- Your current sales pipeline
- Marketing activity over the past month, plans for the coming month, and comparison of spend against your marketing budget
How should I structure my independent agency’s Board meeting?
If your Board meeting currently doesn’t have a defined structure, we highly recommend that you adopt a structure that covers the following areas for your Board meetings:
- Apologies for prior Board member absences
- Review and approval of minutes from the previous meeting, as well as any matters that came up as a result of the prior meeting
- Business critical issues that need to be addressed as top priority
- Review of finances and budgeting
- Discussion of legal issues such as law suits or employment contracts
- Review of sales pipeline
- Review of marketing activity and plans for future growth
- Employee recruitment, hiring, staff morale, and any disciplinary matters, if necessary
- Review of IT, delivery systems, and operations
- Any additional business
- Close of meeting