Board prep

War-game a high-stakes decision before the board or leadership meeting

To war-game a decision before a board or leadership meeting, write the ask in one sentence, name the people in the room who can stop it, and play the plan against the strongest move each of them could make, plus the two or three ways the world could turn against you after the vote. Do it while the ask, the numbers, and the fallback can still change.

This page is for chief executives, founders, and senior operators preparing a decision that a board or executive team will approve, reject, or reshape. Executive starting points also live under Pingpong for executives.

What war-gaming a decision means

A document review asks whether the deck is accurate. A war-game asks what happens next. You treat the meeting as a contest with turns: you present, a director pushes back, you answer, and the decision either survives or bends. Then you run the decision forward a few quarters and ask which outside events would make the room regret it.

Three pieces matter. The seats are the specific people who can block or reshape the ask, each with a known concern such as cash, risk, or execution. The scenarios are the plausible bad turns after approval: a key customer leaves, a timeline slips, financing costs rise. The response is what you would change now, before the meeting, so that each objection already has an answer and each scenario already has a trigger and a fallback. The output is a short list of edits to the ask, not a longer deck.

A worked example

This example is illustrative and does not describe a customer. The chief executive of a 300-person specialty components maker plans to ask the board next Tuesday to approve a $14 million acquisition of a smaller competitor. The pre-read includes a board memo, the deal model, a diligence summary, a customer concentration export for the target, and the draft term sheet.

The chief executive puts all of it into one request with three seats: the audit committee chair, an investor director focused on cash runway, and an independent director who has run plants. The request also names three scenarios: the target's largest customer, at 38 percent of revenue, leaves within a year of close; integration slips two quarters; and the floating rate on the acquisition debt rises by two points.

A useful pass turns up concrete problems. The memo assumes 95 percent customer retention, but the diligence summary notes that the largest customer's contract allows termination on change of control. Under the slip scenario, the model breaches the leverage covenant in the fourth quarter after close. The operator director's first question would be who runs the acquired plant on day one, and the memo never names a person.

The chief executive changes the ask before the pre-read goes out: $12.5 million at close plus a $1.5 million earnout tied to that customer renewing, a covenant headroom table under all three scenarios, a named integration lead with a 100-day plan, and a stated walk-away price. The decision the board sees is smaller, sturdier, and easier to approve.

Pick the guide for what you have

How Pingpong runs a war-game

The web review app sends your request through several models in order. Each later model receives the original request and every earlier answer, with instructions to assess the work so far. One pass might play the seats; a later pass might test whether the scenario math holds. A confident mistake can carry forward, so check every flagged figure against the source file. For the steps inside the app, see running your first review.

What a model can't war-game

A model does not know which director has already made up their mind, what was said in the last closed session, or what counsel has cleared. Legal, tax, accounting, and personnel questions belong with the people responsible for those answers. Use the war-game to sharpen the questions you bring to them. More work-decision guides live under work decisions before you commit.