You’ve got to the top of your profession and are now considering the possibility of sitting on a board. But how do you make yourself a worthy contender for a seat at the big table? Here are 10 tips designed to ease the path to your first board appointment.
The do’s of getting a board seat:
1. Honestly appraise your motivations and commitment level – your strengths, ambition, risk tolerance, time.
2. Personal brand: be clear about what value you can add to a board.
3. Proactively network: refine your ‘elevator speech’ and communicate it to:
4. Skill up: do AICD and other relevant courses, e.g. those that refresh your financial knowledge.
5. Learning junkie: keep engaged in industry, board and hot topic issues by attending conferences, seminars, breakfasts, etc – a great chance to build your network so have your cards ready.
6. Right fit: determine the type, size and sector in which you would like to serve on a board – un/listed, government, private equity, not-for-profit – do your research and identify their needs and current director status.
7. Don’t get off until you are ready: keep an executive career going if you still have “one more in you” – you will bring operational experience to the board and the board experience will be valuable to your executive position.
8. Speak up: be a spokesperson on a topic that adds value to the conversations that boards need to be interested in – offer to speak at an association event, sit on panels.
9. Build experience: not-for-profit boards can be a good place to start. Select for your passion, but pick for the company of other directors. If there is no board position, offer to help on a committee. Gives you both the chance to assess fit.
10. Update your 2-4 page CV regularly: highlight key, differentiating skills, current and past boards and activities outside your day job.
And some don’ts
1. Don’t rely on others to ‘sell’ your story – devote the time you would to a job search.
2. Don’t assume that search firms are the answer – over half of boards rely on ‘warm referrals’ from their own networks and you need to be in that deal flow.
3. Don’t close your mind to opportunities – listen to every possibility – you never know what might be the right fit.
4. Don’t expect that diversity alone is your ticket to a board seat – you MUST bring the right mix of experience and style to be considered.
This article first appeared on Women’s Agenda.
