10 tips for getting your first board position

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:

   ►  Chairs (who are the decision makers) and other active directors on boards

   ►   your colleagues and targeted contacts

   ►  executive search firms
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 & 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