Buzz
A board of directors is composed of a small group of individuals who are responsible for supervising the operations and strategic decisions of a company, nonprofit, or government body. To be considered for a board position, you must have business acumen and the ability to drive the financial success of the organization. Before pursuing a role on a board, it is important to have a solid understanding of the type of business you wish to work in and begin building professional relationships with other board members.
Steps
Understanding the Company
Determine the type of board you want to join. Both profit-driven and nonprofit organizations have boards of directors. While securing a board position in a nonprofit might be easier, it doesn't necessarily guarantee future opportunities in a for-profit board.
- If the company is publicly traded, board members are typically elected by shareholders, which may include the company’s founder, especially in its early stages. Board members can also be nominated by an existing director. For nonprofit and government boards, members may be appointed directly by the CEO or a government entity (such as a cabinet official).
- Public companies tend to have larger boards, whereas smaller, private companies usually have fewer directors.
- Directors at large publicly traded companies often receive substantial compensation (including stock options), whereas smaller companies or nonprofits may offer smaller financial incentives.
Look for board opportunities in industries you’re knowledgeable about. Unless you already have a specific company in mind, you'll need to search for organizations that might be open to adding you to their board. The best starting point is online. Explore directories on websites that list boards seeking new members.
- Check sites such as BoardnetUSA, Volunteermatch, and Idealist for nonprofit board vacancies.
- Leverage your existing network to assist in your search. Business professors, former bosses, or startup CEOs could be great sources of advice as you seek a board position.
Select a company where you can offer value. To be considered for a board of directors, you need to bring expertise and valuable insights. A well-rounded board is made up of individuals with various strengths. By choosing a company where you can make a direct impact, you’ll increase your chances of being appointed.
- Many nonprofits and businesses are specifically seeking individuals with financial expertise or degrees in finance. Corporate social media skills are also in high demand.
- Reach out to a current board member to see if your background aligns with what the board needs.
- Use the information you gather online to guide your company search. Boards seeking new members often list the qualifications they’re looking for on their websites.
Investigate current board members. Researching the existing directors—whether on one board or across multiple boards—can provide insight into the common qualifications, experience, and skills of board members. Pay attention to:
- Any gaps in the skill set or qualifications of the current board members.
- If any members are nearing retirement.
- If there are networking opportunities with any of the directors through mutual connections, colleagues, or other professional contacts.
Building Personal Relationships
Connect with current board members. Your chances of securing a board seat increase significantly if you have a professional and personal rapport with an existing board member. Identify who is currently on the board and arrange a meeting with one of the members. An in-person conversation will give you the chance to directly make your case for a board position.
- Use your professional network to connect with directors on boards you're interested in. You may already know someone who can introduce you to a director.
- When meeting with a board member, you could say, “We’re connected through Sally – she’s a colleague of mine. I’m interested in serving on a board and would like to learn more about your board.”
- If you prefer a more direct approach, you can say, “I’m interested in joining your board. How can I pursue this opportunity and demonstrate my qualifications?”
Gather detailed information about the board and the company. This will allow you to assess how to best present your skills and experience to make a strong impression on the current directors. Ask for details such as the number of board members, the frequency of new appointments, and the board's management style.
- Consider inviting a board member to lunch and inquire if they’re willing to share insights about the company. Be clear that you're interested in serving as a director and want to learn about their experience on the board.
- When meeting, you might say, “I’m looking for a board opportunity, and your organization caught my interest. Do you know if they’re open to adding a new director?”
Participate in networking events. If you want to increase your chances of finding multiple board opportunities, attending an event hosted by the National Association of Corporate Directors could be beneficial. These events are open to the public and provide opportunities to meet or learn from various board members across different industries.
Explain why you would be a valuable asset to the board. If you don’t have an established professional relationship with any of the current directors, you will need to advocate for yourself. Highlight the unique skills and perspectives you can bring to the board.
- If the company serves a wide geographical area, you could position yourself as a regional representative or someone from a community not currently represented on the board. For example, you might say, “Although your company has a strong presence in the South, I notice there are no directors from that region. I’ve lived in Alabama my entire life, and I could help expand your operations there.”
Requesting a Board Position
Avoid relying solely on search firms to secure a board position. Search firms specialize in matching directors with board positions. While they sometimes help first-time directors find opportunities, this method is less common.
- Although you might get lucky working with a search firm, it’s important to recognize that this is not a guaranteed way to land a board seat. Feel free to send your resume to one or two firms, but don’t depend on them as your primary strategy.
Request an appointment to join the board. Approach the company’s CEO or a current board member to express your interest in becoming a Director. Be ready to demonstrate how your skills can contribute to the company’s profitability and highlight your leadership and management expertise. Be prepared to discuss your business background as well.
- When requesting an appointment, you could say something like: “If there’s space on the board, I would love to serve as a director. I’m passionate about the organization’s mission, and I believe my skills and experience would be valuable.”
Prepare your resume for a potential interview or meeting. Customize your CV to present yourself as a strong candidate for the board you wish to join. Emphasize your leadership experience and your dedication to the specific industry or community the organization serves.
- Use your resume to showcase your strengths in areas where other board members may not be as skilled. This shows that you’ll add value to the board and not duplicate existing expertise.
Highlight the value you could bring as a director. CEOs and shareholders are looking for directors who can enhance the existing board and contribute essential skills. Directors must bring professional diversity, so position yourself as an expert in a field that will benefit the board. You might say:
- “I believe I would be an asset to your board due to my extensive experience in [marketing / sales / finance / human resources].”
- “Since there is no director with expertise in business law, I could be a valuable addition to your board, filling that gap.”
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The more knowledge you have before reaching out, the better. Position yourself so it’s clear you’re the ideal candidate for the role.
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Take time to reflect on what you can offer the company. Make sure to communicate how you can be of value and what unique strengths you bring to the table.
