How to prepare for a Board Career

If becoming a board director or board member is something you aspire to, there are several areas you should be working on now to prepare for a board career. My last article discussed why and how to balance an executive and board career. Let’s take that a step further and explore what you can focus on to make you a more effective board director and a more appealing board candidate in the future.

Focus on these areas to prepare for a board career

If you are serious about pursuing a board career, I encourage you to work towards your goals now. Success in the boardroom requires continuous learning, perseverance, and a commitment to personal and professional growth. Be proactive by investing time to develop the knowledge, skills, and networks to position yourself as a meaningful contributor to any board.

Whether you aspire to serve on a corporate board or in a voluntary capacity, when preparing for a governance role, you should focus on these key areas.

1 – Develop and Practice Strategic Thinking

Board members are responsible for providing strategic guidance and oversight for the organization they represent. Strategic planning requires thinking about the future and developing plans to achieve goals. This involves understanding the current situation, identifying trends, and developing strategies to capitalize on opportunities and mitigate risks. Strategic thinkers can see the big picture and make decisions that will benefit their organization in the long run.

Consider developing and practising these core skills of strategic thinking:

• • Critical thinking: analyzing information and identifying the most important factors. Identifying trends and patterns.
  • Creativity: coming up with new ideas and solutions to problems. Do not be afraid to think outside the box.
  • Communication: Strategic thinkers can communicate their ideas effectively to others. They can explain complex concepts clearly and concisely.
  • Collaboration: by working effectively with others to achieve common goals.

To develop your strategic thinking skills, there are many practical things you can do:

• • Look for opportunities to cultivate strategic thinking in your current professional role to: collaborate, analyze complex situations, identify potential risks and opportunities, and develop long-term visions for your organisations.
  • Practice strategic thinking in your everyday life. When you are faced with a challenge, take some time to think strategically about the best way to solve it.
  • Read books and articles about strategic thinking or engage in courses to develop strategic thinking skills.

2 – Expand your Business Acumen

In order to make good decisions, board members need to have a strong understanding of business principles, including finance, accounting, and marketing. Actively seek learning opportunities and engage in professional development to expand your expertise. A solid understanding of financial concepts and metrics is essential to be an effective board director. Financial literacy levels include understanding financial statements, budgeting, risk management, and key performance indicators. If you lack in any of these key aspects of business acumen, these skills can be learned, so consider taking short courses, reading texts and articles and joining peer or industry groups.

3 – Develop Effective Communication Skills

Effective communication is essential in the boardroom. Board directors must be able to communicate with empathy and authenticity whilst being transparent and truthful. To be effective, you also need to be able to communicate with other board members and individuals within the organization with confidence and influence. Prepare now by practising and perfecting your ability to articulate your ideas clearly, listen actively, and ask relevant questions. Look for opportunities to develop your presentation skills, convey your viewpoints, and engage with others with differing ideas.

4 – Build and Nurture a Diverse Network

Build a network that includes board members and industry leaders via your professional network, social network or board-related organizations. Networking with current and past board members is a great way to learn more about the board community, how boards work and to get your name out there. I also encourage you to build diversity in your network in order to learn from those with different backgrounds and experiences.

One of the best ways to meet people involved in or connected to boards is to get involved in your community. Volunteer for local organizations, serve on committees and attend community and sporting events. This will help you build your network with those all-important weak ties.

5 – Gain Board Experience

Seek opportunities to serve on your organisation’s advisory boards, nonprofit boards, or governance committees. Also, consider seeking a board mentor. These opportunities may be available within your current workplace or the local community.

Volunteer on the board or committee of a nonprofit organization. Nonprofit boards are always looking for volunteers with business and executive experience. It is a great way to give back to your community and gain board experience at the same time.

Any of these opportunities will allow you to gain valuable exposure to board dynamics, decision-making processes, budgeting and governance principles. Plus, it also demonstrates your commitment and readiness for a board role.

6 – Understand Governance Principles

Familiarize yourself with the governance principles and best practices related to the type of board roles you aspire to. Gain knowledge of board structures, board members’ duties and responsibilities, and legal obligations. Keep on top of evolving governance trends and industry regulatory requirements.

Ideally, you should consider completing a governance course or certification. The National Association of Corporate Directors (NACD) offers a variety of programs and services for aspiring board members, including the NACD Directorship Certification. The NACD also publishes many resources on board governance and best practices. 

If you are interested nonprofit board role, BoardSource has an extensive library of resources, studies and guides relating to the governance and leadership of nonprofit organizations.

7 – Start writing your board pitch and board CV

A Board CV is not the same as an Executive CV. An executive CV is crafted to gain a C-Suite role and will use the language, aspirations and referees required to do just that, rather than the more strategic elements required at the board level. Your board CV is not a static document; it should continually evolve and update. It is inevitable that regardless of which of the four ways you pursue to get a board seat, you will, at some stage, be asked to provide your board CV. So if you don’t have one, now is the time to start writing at least the first draft of your board CV.

Conclusion

Serving on a board can be a challenging but rewarding experience. For some, it is the perfect way to use their skills and experience to make a difference. For others, it allows them to network, learn from other business leaders and consolidate their executive careers. Regardless of your aspirations, it is never too late or too early to prepare for a board career. My Board Appointment Coaching Program will help you through every step along the way.

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