Read Book Thoroughly
Reading of the book must have been decided at the previous meeting of the book club, so it is your responsibility now to read the book thoroughly. Reading is knowing and if you know enough you can talk about it enough.
Concentrate Some Parts More Than Others
Although reading the entire book is essential, you can concentrate the start and ending of the book more, because these two parts are most likely to throw a light on the subject matter in totality. You can learn more with a little effort by concentrating on these two parts.
It will be difficult to remember each and every idea you have read in the book, so you can note down important points on a piece of paper and then can follow your discussions while presenting each one of them at the meeting.
Research Other Resources
While reading the entire book will help your cause of leading the discussion, it is even more helpful to read related material from other resources such as internet and newspapers. This will add to your knowledge on the subject.
Think of Questions After Reading
After you have read the book and secondary resources, think of questions that can arise or you think are left without answers. You can either look for their answers or make a list of them to discuss at the meeting.