What first board seat is right for you?
To find the answer, there are 8 questions you should ask yourself...
In doing so, you will discover what roles are suitable and possible, plus what roles are not a good option for your first board seat. You may also identify roles that might be suitable for your 2nd or 3rd board seat. The result should be a set of realistic target organizations and the foundations of some solid board career goals and aspirations. You will likely struggle to gain an appointment if your board goals are unrealistic.
1- What types of board opportunities are out there?
Based on where in the world you are located, you need to research to understand what board or committee types exist. In particular, what kinds of organizations have boards or committees, what type of boards are they, and do they require independent directors? In?the USA, options include Corporations, Cooperatives, Not-for-Profit companies, Limited Liability Companies and Non-Governmental Organizations. For some entities, it is a requirement that they have a board of directors and several independent directors on that board. For others, it may not be a requirement; instead, they have executive committees or advisory groups.
Keep an eye on LinkedIn and other recruitment platforms to see what board and committee opportunities are available. Set up notifications to be notified as soon as potential board roles are listed.
2 – What are your passions?
Board chairs and board directors are passionate about their organizations and what they do. You, too, must share this passion. Joining a board that matches your interests and passions will also ensure you stay engaged, energized and focused.
Make a list of organizations that you can demonstrate an authentic passion for. Just wanting to be a board member of that organization does not show passion. Consider what you are passionate about personally and professionally. Then, list organizations that share these passions. You may be pleasantly surprised to discover how many of these organizations or groups have a board or committee to oversee their activities. Not-for-profit and voluntary organizations, in particular, are usually grateful to receive an offer of extra expertize and assistance.
3 – Where do you live?
Your location still counts despite the uptake of Zoom and remote formal meetings. Many more traditional boards and chairs still take comfort in appointing local candidates to the organization and the community it serves. This may mean limiting your initial search to organizations within easy commuting distance. Of course, there will be exceptions to this practice. For strategic reasons, organizations may intentionally seek board directors for different locations. An organization may seek a specific skill set, resulting in a broader search for the right candidate.
If the board seat you are considering is not within your geographical location, you must do two things. You need to confidently convince the board or panel why they should appoint you over a local candidate and that the distance will not prevent you from functioning effectively in the role and fulfilling all your responsibilities. You should address this in your board application cover letter.
4 – Do you need to get paid?
There are many benefits of serving on a board. For some roles, one of those benefits is being paid. Voluntary board and committee positions are just that, and most Not-for-Profit boards don’t remunerate their independent directors. Some Not-for-Profits will compensate you for reasonable expenses.? If you need to get paid, you must consider roles outside these organizations and sectors. Be prepared, as this will most likely make obtaining your first board seat significantly more competitive. If you are still adamant that you need to be paid, don’t get distracted by unpaid Not-for-Profit boards. It is best to stop considering them altogether and focus on paid opportunities.
If gaining a paid board appointment is not your primary concern, then Not-for-Profit organizations should stay on your list. They are a far more achievable goal for your first board seat, plus you will benefit from the experience you gain and the connections you make.
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5 – Who is going to value your skills?
Not every board or committee is going to value or need every skill. Before you start researching who will value your skills, you must identify “What is your unique skillset? and do you have specialist knowledge and experience?”.? You then need to be able to articulate, “Why are those skills or experiences of value at the board level?” The key here is to view this from the board’s point of view, not yours. What value you can add to the board?
Your thinking should be similar to: “Would a large organization with a large HR department require a board member with HR expertise?” It is unlikely. Or, “Will your general IT experience be valuable to a specialist tech company?” This process will initially be time-consuming, but it will help you identify what first board seat is right for you.
6 – How valuable are your connections?
Your connections, both professional and personal, are valuable. Review your contact list and then ask yourself, “What organizations will want access to, or see value in, your contacts?” Your connections could separate you from the competition in a competitive board appointment process.
Your connections are also valuable when searching for your first board seat. We know that around 65% of people are appointed due to a personal and professional connection. So, you need to review and then research all your contacts. See who currently or previously sat on boards. Look at the organization you currently or previously worked for. Should any of those organizations be on your shortlist? Don’t just focus on those connections you know well, as research shows that those you know more casually may be the ones who provide the results.
7 – How much time can you commit to your first board seat?
Joining a board can be an enriching experience, but it can also be trying and time-consuming. When determining what first board seat is right for you, you must research the time commitment involved in serving on potential boards or committees. If a role is advertised, it will often state the time commitment required for attending board and committee meetings. However, you also need to consider the time required for travel, meeting preparation, provision of additional advice, emergency meetings, upgrading your skills (inducing governance training), and representing the organization at community events.
You must also consider how much time you must allocate to finding and gaining your first board seat. Gaining an independent board seat is a competitive process. If you are looking for your first board role, it is unlikely that you will
have board experience. So, finding the right board role may take some time. I recommend you allocate a 12-month time commitment to this process.
8 – How competitive are you?
Since there are limited seats on any board, and plenty of people apply for them when they become available, gaining one is a competitive process. When seeking your first seat, you can prepare for this competitive environment by:
Defining what first board seat is right for you is not easy. If you don’t select the right roles and organizations, it will impact everything moving forward. Articulating your board profile and pitch is crucial in a competitive process, which requires resilience and perseverance. During the extensive training incorporated in our Board Appointment Program, you will be taken through all these elements step-by-step, plus much more.