86. What questions should you ask if you‘re new to this whole governance thing?

SCRIPT I work with an amazing team at the Rotman School of Management on a program called the Rotman OnBoard Fellowship Program, where MBA students get to spend an academic year working with the board of a not-for-profit organization on a governance-related consulting project. It’s the only part of the MBA program that tries to explore the questions about what governance is, what boards are, and why those questions even matter in the first place. But it’s a LOT for the students to absorb. Making matters even more challenging, a lot of the organizations we work with are also learning as they go. It’s with those students and organizations in mind that I thought it would be helpful to share some fundamental questions that I think are worth exploring if you’re new to this whole governance thing. First, try asking “What should GOOD look like for our organization?” I mean in terms of the people, processes, and experiences of making good decisions. While exploring this question, please try to avoid asking “What are other organizations like ours doing?” You might get useful information, but I bet those other organizations are feeling just as clueless as you. Next, ask “if we could talk to anybody about making our organization as amazing as possible, who would it be?” Make a big list and then drum up the courage to make some bold cold calls. Finally, ask “who will this organization need tomorrow that it doesn’t have today?” and then get to work on making yourselves obsolete. I promise working on those questions will be a lot more fun AND VALUABLE than sorting out the nuts and bolts of your by-laws or policies.