Over the past several months, we have encountered several sponsor-backed organizations looking for assistance with preparing the monthly board deck as it has become too time-consuming for them. We have even heard of some management teams spending up to two weeks a month on preparing the monthly board deck. Though we believe that the board meeting and deck preparation process are both a useful exercise for management and a good reporting tool for the board – We urge all managers who are spending more than 20% of their time on board prep to please stop. First – Have an honest and open conversation with your sponsor about what is happening and how it is preventing management from more important things, like managing the business. Second – Work with your sponsor to discuss what is easily reportable vs what they are looking for (what data points and KPIs come out of the Company’s systems without extra work and analysis). Third - Ensure you are reporting on what is important to the business's success: how you are gaining customers, providing services, and getting paid. Fourth – Focus on reporting results and discussing challenges, graphic design, and overall prettiness aren’t all that important. The real goal should always be to manage the business successfully, if you ever feel like the preparation of the board deck is taking away from that, speak up. To find out more about how Allenhurst Advisors can help drive value in sponsor-backed assets, please visit us at www.allenhurstadvisors.com or reach out to us info@allenhurstadvisors.com
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