You’re an executive, or an aspiring one, with a wealth of experience and credentials. You’ve led major projects and helped your company achieve impressive growth. But there’s one thing you haven’t been able to check off your list: a board seat.
If I had a dollar for every time I was asked how to get a board seat! Here are a few tips to make it happen, followed by advice from people who actually sit on boards.
1. Do your research
First, decide what kind of board you want to join. A publicly traded company? A private equity or venture backed company? A nonprofit? A startup? Then research the organizations that fit, pick the ones that interest you most and start reaching out to your contacts there. Many boards today are also looking for directors with experience in areas like technology, AI and cybersecurity, so make sure your profile shows what you bring.
2. Make yourself indispensable
Once you know which boards you want, start adding value. Whether through advice, introductions or financial support, find ways to become an indispensable part of the organization. The more valuable you are, the greater the chance you’ll be offered a seat at the table.
3. Network, network, network
As with most things in life, networking is key. Get involved in industry events and get to know executives who serve on boards. Those connections will help you understand the board process, and they could lead directly to a seat.
Advice from real board members
Now let’s look at what people who have, or have had, board seats say about how they got there. It’s always good to learn from someone who has been there and done that.
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Hi Joe,
(Fun story) This is how I got a board seat for a public company. I was interviewing for the CFO role. They sent me to a psychologist for some role playing. Afterward I asked what was going on (it was pure chaos), and he told me that was what an operations meeting was like at the company.
My response was that they did not need a new CFO, they needed a new CEO. This was despite my liking the CEO and really liking the business. I had also given the CEO some advice during our meeting which he did not like. I basically took myself out of the running for the CFO job.
A little while later the CEO contacted me again. The board was trying to oust him, even though he had supervoting rights and controlled the company. He also said my earlier advice was correct. I joined his board and started a turnaround.
My second board seat I got for a friend. I was consulting for a company and recruited a number of finance and accounting people. They told me they needed an outside board member because they were getting ready to go public. I introduced them to someone I knew with a very successful record as CFO of public companies. He had the industry experience they were looking for, so they put him on the board, and it was very successful.
In summary, the CEO is generally going to put people on the board whom he knows and can trust to have his back. In many cases they also need industry experience in the areas the company needs.
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Dear Joe,
I no longer sit on any boards, but I have historically. I sat on several boards for a family office, the last of which was a printing company based in Ohio. I saw the inside of the boardroom as we transformed the company from founder owned to professionally managed, and we finally sold it. That experience made me a better investment banker and gave me a better understanding of what sellers go through.
I got a board seat at a technology startup in the early 2000s. I had worked with the founding management team, and when they decided to start a new venture, they asked me to invest and to lend my experience with public companies. That exposed me to many very active early stage investors, including several early Microsoft employees. Although we never took the company public, the experience gave me a great understanding of how early stage investors think and contribute to the success of startups.
Last, I sat on the board of an industrial technology company that designed, manufactured and installed training systems globally. The founder and chairman, a business acquaintance, asked me to join, and I was asked to chair the audit committee, which was a daunting task to say the least.
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Joe,
Pretty much like everyone. My first board seat came because someone I knew recommended me. Then I met a fellow board member who asked me to join his board. Next, two CEOs I worked for added me to their boards at successive companies, and one recommended me for one of my current boards. And a president I hired at one company became chairman at another, and he asked me to join his board.
It’s all about skills, but more importantly, relationships. It takes the risk of a bad “hire” off the table. I know what I get with you.
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Joe, thanks for asking.
I have sat on a variety of boards. The nonprofit volunteer boards have often been the most fulfilling, and I was generally asked to join them because of my volunteer work with those institutions.
I currently sit on the board of the company I work for. I was asked to be corporate secretary first, and after many years in the meetings as secretary, the chairman offered me a board seat after our CEO recommended me. I am also on the board of a related company, again after proving myself as corporate secretary for that entity.
Ultimately, every board seat I have held, paid and volunteer, was offered to me by people who saw and appreciated my work, my vocal opinions and my unique perspective on problem solving.
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Joe,
I got a seat with a not for profit social services agency (formal title: board advisor, functioning as a non voting board member and consultant) through two routes: a lifetime acquaintance with the president, founder and CEO, whom I have known since middle school, and my prior body of experience.
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Joe,
My experience has been very clear: the path is essentially the same as finding a regular job. You network like crazy, make sure the people involved in decisions know you are looking and that you are valuable, and respond to a carefully chosen set of open opportunities.
Others recommend nonprofit boards as a good path. I have many years on nonprofit boards, really to satisfy my desire to contribute to the community. While those boards sometimes help with networking, I find they help very little in the search for a corporate board role.
That may sound obvious, but in my experience few people put in the effort. CFOs also have a bit of a leg up, given the special financial demands of certain board roles. Happy to dig in further if I can help.
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Joe,
I often volunteer my time and expertise with theater and performance ventures that need technical help. I often end up as a board member, since they need those skills on their boards!
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Dear Joe,
One merely has to have a servant attitude and be available.
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The common thread
Read those stories again and you’ll see it: almost every seat came through a relationship. Someone who knew the person’s work, trusted them and spoke up for them. Build those relationships now, add value first, and let people know you are ready.
I hope this helps, and let me know where you land your board seat! Happy hunting!
Joe Pelayo has been recruiting for over three decades. For more articles and career advice, visit josephmichaels.com.
Looking for your next executive role? Visit josephmichaels.com or email info@josephmichaels.com.
Building your leadership team? Joseph Michaels International has been helping companies find great people since 1990. Email info@josephmichaels.com or visit josephmichaels.com.