Upgrade Your Career Track: Why Join A Board In Texas?

At some point in your successful career, you might be fortunate enough to be asked to join a board of a non-profit—or, perhaps a corporate board. According to authors John T. Montford and Joseph Daniel McCool and their book, Board Games, there are many layers to becoming a board member, as they shared with our Lance Avery Morgan.

PART II:  Practical Observations About The Boardroom

While many highly accomplished men and women hope and expect to get that call to the boardroom some day, the truth is that few are asked to serve organizations in such a critical governance role.

Unless you have the wide name recognition of a former secretary of state, cabinet secretary, or U.S. senator, or you have celebrity status as a high-profile chief executive officer, you’re not going to be openly solicited for board service. Individuals like Condoleezza Rice and Bill Gates are going to get calls about serving on boards. People with incredibly high name recognition will get those calls. And when you consider that shares of Weight Watchers soared in October 2015 upon the news that Oprah Winfrey would be joining its board of directors and taking a 10 percent stake with options to acquire another 5 percent stake, you can expect the big names to get even more of those calls.

However, for most people without household name appeal, the pathway is clear—we have to earn it. There simply is no big “easy” button to push for appointment to the boardroom. It is for this reason we committed to put together this roadmap for getting to the board appointment you want and which you may also deserve.

Many accomplished executives would like to serve on a board of directors. Appointment to a major corporate board may bring significant compensation. Appointments to the board of a smaller, private company or the governing or advisory board of a start-up company, a not-for profit, charitable, philanthropic, and/or community or institutional board all stoke executive-level interest.

Yet if we consider the actual number of annual appointments to paid corporate board positions each year, we see that only a small fraction of those who would like to serve in such a stewardship role will receive the call.

So what separates those who actually get appointed from all those who would simply like to get appointed?

These factors are particularly important qualifiers for securing a board appointment:

1. Your reputation, experience, and credentials for a board appointment
2. The expert knowledge and insight you bring and how it will extend and deepen board competency in the right areas, at the right time
3. The networking relationships and advocates you can engage to rise above other successful leaders
4. The clarity, consistency, and conviction of your own efforts to engage with influential people

So how doyou get on a board? The answer is, a lifetime of hard work creates what, more now than ever before, represents only an opportunity to do more hard work in today’s corporate boardroom under an intensifying glare of public opinion, shareholder advocates, activists, lawyers, labor unions, the media, and more.

But to get there, you have to have a plan and stick with it. Of course, luck also factors into the board appointment equation. Be at the right place, at the right time, with the right people. You can control two of those variables. As for timing, well, let us just say we hope luck is on your side.

If you bring more than one of the above-listed attributes to a board, there is still no guarantee that you will get the board appointment you desire. You still have to make it happen.

As a practical matter, you have to set your sights on getting a board appointment and go after it if you want it. Interest in serving is not enough to get to the boardroom. That is true for paid corporate board directorships, although your willingness to volunteer may indeed qualify you for any number of not-for-profit, charitable, or community boards or advisory boards.

When it comes to securing a paid corporate board seat, do not expect your own fairy board-mother to flitter her wings heralding a major board appointment while you sip a martini on your back porch. That is, unless you are cavorting with some of the best-known names in business, government, civic affairs, or perhaps the worlds of media or sports. Those relationships may help you to get where you want to go.

But the right path is the path that will work.

How to get appointed to a board is simple: you are going to have to earn it. You are going to have to work for it if this is what you really want. You are going to have to set your sights on it and go after it.

The truth is, you are going to have to plan for it—and put that plan into action over time.

Yet before you can build your own plan, let us consider what boards are looking for, the different paths that would position you as a highly qualified potential candidate for a board seat, and some other timeless lessons on getting to the boardroom and making a difference once you get there.

Know What Boards Are Looking For

It is hard to serve a need until you understand that need.

In order to get to the boardroom, you must understand what boards want, what they need, and what is motivating their directors to seek new competencies that will improve governance and, in some cases, cover their rear ends if something goes wrong.

As has been the case for decades, today’s boards of directors do not want to be taken by surprise or be caught unaware. The last thing anyone wants is to see his or her name associated with damaging headlines splashed one morning all over the front page of the Wall Street Journal or the Financial Times.

Contemporary board directors want to be regularly briefed on emerging threats to and opportunities for the business. They want to engage with board peers they like and respect. They want to safeguard shareholder interests, contribute meaningfully to corporate strategy, plan for the eventual succession of the chief executive (if they are doing their jobs), and ensure the growth of total returns to shareholders over time.

To achieve these goals, they need smart people assembled around the boardroom table who are open-minded and dedicated to putting in the hours it now requires to be a good board director.

DISCLAIMER: The information provided in this blog post is for educational and informational purposes only. It should not be considered as advice. Readers should consult with a professional advisor before making any career decisions. The author does not guarantee the accuracy, completeness, or reliability of the information provided. All opinions expressed in this blog post are solely those of the author and do not reflect the opinions of any affiliated organizations. The author may hold positions in the investments discussed. Readers are encouraged to conduct their own research and due diligence before joining a board.