Episode 305 - Many professionals dream of a board career, but few know how to get there. In this episode, I unpack the three biggest blockers and share a roadmap to help you secure your first board role.

First, I wanted to say a huge thank you to my followers. I have many new followers this week. I just am so happy with all of you following me and you have reached out to me and you’ve been reaching out daily as well to say thank you for the podcast. This has been happening for many years. It really warms my heart every morning when I read my emails and I see people coming back to me with good feedback about the episode. So thank you so much.

There has been more this year than ever before. I think it’s because the podcast has grown, but I also think it’s because this year has been harder and more challenging for job seekers than in years past. I’ve been doing this for almost seven years now. So please remember to subscribe. I know that if you don’t subscribe, you will still find episodes still showing in your feed.

wherever you’re listening to us, could be Spotify, could be Apple Podcast, Audible, it could be YouTube. But as a thank you to me, I would really appreciate it if you could click that subscribe button or follow button and like the episodes because that means a lot to how this platform that you’re listening to us will showcase the

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Like I said, we are niche podcast serving a lot of professionals around the world. This podcast is listened to in over a hundred countries. So it’s amazing. And by following, subscribing, liking, and writing a review, it really helps us reach out to more professionals and you would be supporting our work in more ways than you can imagine. So thank you. Thank you again. And for those who are truly committed to their careers,

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It’s easy to subscribe. There are links everywhere, but there will definitely be a link in the episode show notes. So just seek that out. But I really do make sure that it’s easy to find. And if you can’t find it, just DM me in any of my social media channels and I’ll get back to you with the link. OK, so I am loving using this LinkedIn pose. I’ve been very fortunate. LinkedIn has been able to highlight some of these pose. I don’t know if you know what highlighting means.

It just means that LinkedIn shows it to a lot of people and sometimes they even let you know that they will be highlighting an article or a post or something that you’ve written. Just so you’re prepared for the barrage of comments and the ends and things that happen when they do highlight it, which is really great. And I think it’s one of the reasons why I have a lot of new followers ⁓ this month. And I think maybe that those followers from LinkedIn have sort of

navigated their way through the podcast. And if you’re new here, hi there. I also wanted to let you know that I really want to make great use of those polls and I have a lot of content coming that will be tested out beforehand with those LinkedIn polls before I decide to invest in doing long form ⁓ content with it. So I will test out the ideas and if I see that they’re resonating through the polls,

I will then use that feedback to do future episodes of the podcast. So follow me on LinkedIn, press, you know, whatever vote for whatever thing in the poll that resonates more with you. nothing resonates, you can comment below or you can send me a message on LinkedIn. And, you know, I always like to double bell when I want to be following every single

post someone does. I don’t know if you know about this feature on LinkedIn, but you can follow somebody and then the little bell will appear on that profile that you’re looking at and you can click on that bell and choose to follow all posts. So I do this, for example, when I’m working with my private clients, I follow everything that they do just so as a coach that I know what they’re doing. And then some other industry leaders in my area of expertise, HR ⁓ consultants and recruiters, academics.

people that work in government, people that are talking about the job market. I’m following all of their posts, some reporters and journalists and so forth. So you can do that as well with me, if you are looking for work and you want to make sure you see everything that I post on LinkedIn. And it will be ⁓ something to think about if you are currently job hunting. I would recommend that you do that.

⁓ all right. So those are the sort of little messages I wanted to make sure I, ⁓ got out of the way before we talk about the main topic today, which is about boards and board roles. So let’s start with what boards actually value. And I think that this is so, I mean, it’s obvious to me, but maybe not so obvious to some of you, or maybe it will be obvious as soon as I say it, you will say, of course, but I hadn’t thought of it that way.

And I think it’s important for us to start from scratch. So many professionals are unsure what boards are looking for. And this is the reality. Boards value governance capability, judgment and perspective. This is a big, I mean, this in theory, you probably know what that is and you’re probably aware of it. But what it means for somebody who has worked

in operations at executive levels for a long, long time. This means that you will have to change from hands-on operational skills to hands-off advisory skills. And that can be quite challenging. I have had clients ⁓ that seemed ready for boards from a career perspective.

had achieved a lot, had all the right credentials, but it was so hard for them to move from hands-on to hands-off. So when I did my governance executive training, which I did online at the Harvard Kennedy School, if you are in the nonprofit world or in the government sector, the Harvard Kennedy School has amazing training and certifications that you can do in person or online.

and you know I would strongly recommend and Harvard actually does have a governance ⁓ program so if you want to become a serious director in your future I think the business school also provides that so it’s something to think about here in Australia it’s quite obvious we know that if you want to be a board director the important training for you to do is the training organized by the AICD

And I’m a member, I did not do the training. I’m a member because I was a CEO, so there’s some benefits. If you have achieved that level of seniority in your career, you can become a member without doing the training. And I never ended up doing the training because personally, I’m not interested in board roles. So ⁓ when I did the training at Harvard, let’s go back to that. They had a great analogy. Boards steer an executive’s role. So think about you being on a boat.

And who does the steering and who does the rowing? And I think this is really important. Look, from time to time, you will be working, especially in the nonprofit sector where I sort of had most of my career, you would be working with boards that put on a lot of rowing because the ⁓ organization lacks the executive or operational capacity and the boards just come in to fill some of those gaps, but mostly.

eventually you want to reach a stage even in the nonprofit sector where the boards are advising and the executive team and the operational team are doing the hard work. boards also sit at the apex of an organization. If you’re looking at me on YouTube or on the podcast website and watching the video, I’m doing a little pyramid here and pointing at the top of that pyramid and your role isn’t

to do at the apex of the organization, the role is to lead and advise. It’s to ask the right questions. It’s to oversee strategy. It’s to manage risks and hold the CEO and the C-level team accountable. Boards value directors who bring that strategic insight and the ability to see long-term opportunities and risks for the organization.

And also they want board members that have the financial literacy. Now some board members will have a very strong career DNA in accounting and finance and they really have an upper hand when they’re looking for board opportunities. If you do not have that, that doesn’t mean you can survive only on your other skills when you reach that apex of the organization. You must understand profit and loss.

balance sheets and cash flows. And that is something that a lot of people that come from, you know, their marketing background or engineering background or creative backgrounds, they may not be as familiar and now is the time to do the upskilling. And then there is risk and compliance expertise. Now, legal

regulatory and reputational obligations are important for you to understand and that’s why those trainings organized by Harvard or here in Australia by the AICD and also Governance Australia is a great organization to go for more compliance and ⁓ governance, more sort of the legal aspects of being on a board. So Governance Australia

you would usually go for that training instead of the AICD training if you aim to become either the company secretary in the sort of operational side of things. And it’s kind of a company secretary, it’s kind of the hybrid individual that’s working a lot with the boards and also, you know, with the executive team. But also, ⁓ if you are going to be the compliance expert on a board, then the Governance Australia training is also really great. And then

Finally, I want to talk about diversity of perspective, right? So many boards do not have that. And that’s why a lot of people think that because of their ⁓ expertise that they will add value, know, their expertise being they come from a diverse background. They have ⁓ the lived experience of whatever cause the board is promoting. So there might be that it is important.

for the board to have that diversity of perspective, many boards are seeking that out. Even the gender balance they don’t have, not to say the other equal opportunity balances that we need to have on board levels to represent the community that they represent, right? So we need that greater board diversity, but not to the expense of the other things that I mentioned. So you want to be part of a board, bring your diversity of perspective, but also have…

financial literacy, the risk and compliance, the strategic insight for you to operate at that level. So great boards, are diverse, not just in gender but also in age. Some people think that they need to be older to be on a board but a lot of boards are actually seeking out younger board members to have

the representation of their constituents, of their stakeholders, of their clients and so forth. So that diversity is in background and it’s in experience and it’s in ways of thinking and perhaps most importantly, ⁓ courage and judgment, the ability to ask the tough questions at the right time. If you don’t have the diversity at the board level,

that courage seems to disappear. Everybody has that sort of groupthink mentality and go with the flow and the board becomes a rubber stamping entity rather than doing its actual job that it’s supposed to do.

All right, now let’s talk about something else that’s really important. It’s about how board appointments really happen. How board appointments really happen. And this is really a tough one because it’s the blocker number two. ⁓ people don’t know how they get appointed. This is where many professionals get misled. And yes, board positions, some of them are advertised more and more.

they are being advertised and we see them advertised on LinkedIn, on ⁓ Indeed, on platforms that are specific for boards like Women on Boards or here in Australia, like I said, the AICD has a job board platform and ⁓ government registers, but most appointments still happen.

through networks and sponsorship, right? So you will be tapped on the shoulder when a position is coming and you would be let know by your mentor or somebody on the board that advocates for you to say, guess what? There will be a vacancy next year. You would be such a great, you know, board member. I hope that you ⁓ apply, right?

everything at the board level needs to be above board and it will go through all of the most legitimate processes that it can go unless the board is owned by… the board is of a private company and it’s a family-owned business or something like that. There are boards like that and they can just pick and choose whoever they want on the board and that’s totally fine. But if it’s a listed organization, a government organization or not-for-profit

it will be done in a very serious manner, but that’s not to say that you will not be tapped on the shoulder to apply and you won’t have people that are vouching for you, are giving you tips and ideas on how to prepare for those conversations. So yeah, most board appointments still happen through networks and sponsorship and networking is really important. So building…

those important genuine relationships in the governance community is critical. If you know board members, nurture those relationships, have conversations with them, let them know that in the future you will be interested in ⁓ becoming a board member. Ask their advice, what would you do if you’re in my position at this time of my career? Is there something I should be doing now?

Having those conversations is so important. And then sponsorship. Often a senior leader or board member will champion your candidacy. Someone who has seen you in action will say good things about you, will ⁓ advocate for you when you’re competing against other great candidates as well.

Now about advice advisory and nonprofit boards. These are stepping stones. They allow boards to see you in action before considering you for more competitive paid roles. ⁓ Renata, but it’s a not for profit. And what does that have to do with a, you know, a listed company of a board that will, you know, pay me ⁓ to be part of that board?

What the connection between a volunteering opportunity and a not-for-profit and a paid board position in a listed organization are the board members that cross over. Right? So if you have been tapped on the shoulder to volunteer on a board is first of all, is this a cause that interests you? Because if it’s not, it’s going to be a lot of work and you are not going to enjoy it.

And second of all, who else is on that board? Are they on that board of that volunteering organization, but also are they on other boards and being paid? If they have those connections, making connections with these board members will be very beneficial for you for that transition eventually to paid board roles. And that’s not to say that all not for profit boards are unpaid. No, are none.

profit organizations that have paid board positions there. Not as, you know, I’m talking about industry associations, ⁓ superannuation funds, ⁓ what else? Places like World Vision, they are paid positions. So they’re, you know, you can elevate from a volunteering nonprofit to a paid nonprofit or from a volunteering nonprofit.

to a paid listed company, sort of big role in a board. But yeah, and that is something you need to think about when you’re considering those volunteering roles who are usually a lot of work, just remember that. And a committee advising the board is also a great way to get a leg in to assist them and a community ⁓ and a great way for them to test you out.

So here is something simple but powerful. It’s important to declare your ambition, to tell your network that you’re interested in board roles. Too many people keep it to themselves. They think that this is going to be something that they will do much later in their career life cycle. But frankly, sometimes if they wait until their retirement age, it’s too late. You have to start early to develop.

those relationships because again, I’m doing the pyramid. ⁓ If you’re watching me on YouTube, if you want to be at that apex of the organization, the turnover in board roles is not big. The number of boards that pay well is not big. So you need to be thinking about how you’re going to in, you five, even 10 years, how are you going to grow that visibility ⁓ and be considered for

those roles. So visibility is really half the battle and you can start doing it way before you’re ready, know, time-wise for board positions. So find a mentor. Find someone who is on boards, who has connections and is willing to advocate for you when these vacancies are announced. And that’s not very often. And that’s why I said five years. ⁓

Example of someone who first joined the finance committee. I want to talk to you about this because when I was the CEO of a not-for-profit organization, one way that we had of identifying board members was to ask them to come join us at the finance committee. And that committee would then do very technical analysis of

our endowment and our accounts, of course, and what was the best investment opportunities for us. And these members will then be considered for board roles later. And this is all unpaid work, but the caliber of the people in the finance committee and the caliber of people on my board when I was the CEO was absolutely outstanding. So to be in that

non-profit unpaid board meant that if they did well, chances are they would have connections with board members that sat on bank boards and important government boards and so forth. So members are likely to be working with you and then to recommend you to corporate boards and paid positions later on. So the lesson here is when doing voluntary work,

or board appointments that are volunteer, it needs to have an end goal. It needs to be a cause, believe, a strong belief that it has to be a cause that’s close to your heart. And then it needs to have those connections in the board sphere that will help you transition from volunteering to being paid.

Okay, now, how do you become board ready? Well, I think I already said a couple of things, but let’s talk about this third blocker. I don’t feel my profile is board ready. know, somebody wrote to me that they really wanted to understand, but they didn’t feel they had this intuition that their profile isn’t board ready.

And here’s the truth, very few people are instantly board ready. It’s a long game. I say that it usually takes five to 10 years of preparation. So what can you focus now if you’re 40, if you’re 45, if you’re 50 and you want a board role when you are, you know, 50, 55, 60, 65.

But look, even younger, like I said, there many boards that are interested in younger ⁓ professionals. So I want you to consider this at whatever age you’re listening to this. First of all, it’s about building the right experiences, right? So operational leadership roles, especially roles with a P &L responsibility, with risk management responsibility and strategy exposure.

And this is also valid now that I come to think of it for CEO roles. So when I was considered to become the CEO of this nonprofit organization, I had not been a CEO before, but I had all of that. had a hundred percent governance experience. I had been head of governance before I had risk management experience, loads of it. had P and L responsibility. had led teams. So

That is important. So that same experience that leads to executive interactions, it also leads to board interactions and board appetite for your experience. Then ⁓ crafting a board style resume. so different from it. It’s different from an executive resume for sure. It’s not so much that it’s short and sharp.

It’s about ⁓ that advisory versus hands-on. It’s hands-off versus hands-on. And the way that you write your dot points for your roles or your expertise is really different. And I help clients do that. There are other coaches that help clients do that. But it has to be future focused for you. It has to highlight your

key expertise, if there are several, can identify what the right ones are for the board that you are applying for, because sometimes too much information is immaterial for the board that you are applying for. If they’re seeking specific board members with specific expertise, they will be interested in seeing that at the, you know,

top of that resume that you’re, you know, that board resume that you’re writing to them. So it has to be future focused. It has to be showing what you will contribute to that specific board, not just what you’ve done. So even the action verbs that I’m a big fan of to start dot pointing your achievements, we use different ones ⁓ for board level. So the resume needs to be tailored.

to the specific board, to the specific need of the board and the sector. Manage your professional brand on LinkedIn. your LinkedIn presence should reflect that you are board ready or board level positioning, okay? So this means feeling comfortable having opinion pieces, thought leadership, governance insights, sector knowledge.

I want to say something that I think is really important. When we are working at the operational level, we are usually working a very busy long day and we’re focused entirely on the business as usual and whatever projects and strategies that you need to implement for that organization you’re working for. When you’re looking for board roles and you’re building a portfolio career,

or even when you are between jobs looking for work, your time is spent gathering knowledge, right? So you wake up a typical board professional, a professional that has maybe two, three paid board roles, maybe one volunteering ⁓ board appointment. They are waking up in the morning and they are reading two or three newspapers.

especially the finance section and everything that has to do with the sector that they are an expert in. So they will be reading, you know, here in Australia, the Australian, ⁓ the Australian Financial Review, they will be reading Wall Street Journal and the New York ⁓ Post and they will be looking at the financial times and then they will be reading articles.

everything that they can to have the knowledge to back up their positioning of issues that have to do with the area of expertise. This is super important. You have to be a thought leader in your area of expertise. So one of the things that I think more mature professionals especially need to start doing and those that are seeking portfolio careers, even if they’re younger,

is to start developing time in their calendars to do that learning, that professional development. And that sector knowledge is something that needs to be on show. So either it’s on show because you are an expert and you are on stage on a panel speaking or…

its own show because you are developing expertise and you are you want to be part of a community that is an expert that is expert in ESG or expert in cybersecurity or expert in FMCG or retail. And you’re being part of conferences and events. You are participating there. Right. So you are attending even if you’re not speaking. So you’re making connections.

And finally, that thought leadership needs to be on show in places like LinkedIn. Okay. So this is really important for you not to be embarrassed or awkward about positioning yourself well on LinkedIn. Now, the next episode of this podcast will be all about LinkedIn. And I have a serious invitation for you if you want to be more proactive on LinkedIn. And I’ll talk more about this.

in the next episode 306. So keep an eye peeled for that. And remember, you will be on show, right? Board members have responsibilities. So if you want to start feeling ready for this, start being on show now with your positioning on LinkedIn, with speaking engagements, attending conferences and so forth.

⁓ And then board members, sponsors and headhunters, they will notice how you engage publicly and they will see if this is a great fit for their companies or not. And yes, when you become more public, some people will really say, wow, this is a great fit for our organization and others will say, well, that’s not such a great fit for our organization. And that’s fine. know, having that positioning is better than having no position at all.

This is something people often don’t get, right? It’s okay for you to find a firm setting for you in the landscape of your area of expertise. And some people will resonate with that and some people won’t, and that’s fine. It’s better than people not knowing about you at all. So yes, board members, they are special. They are smart, they are experienced, they are well connected.

They have high equity and high brand awareness. So reputation has, in my view, these two areas, right? One is awareness and the other one is equity. You want people to know of you and you want people to think highly of you in order for you to become a board member. So if you don’t showcase your expertise in some way, it will be really challenging for you to get the board role.

Okay. And yeah, so sometimes it’s about being active on LinkedIn and I use LinkedIn ⁓ a lot because I find that for most of my clients and most of the people that I work with, LinkedIn is a great platform. But I know that some excellent board members have been very active on other platforms, especially Twitter, you know, especially if you’re dealing with journalists.

If you’re dealing with PR, if you’re dealing with ⁓ finance professionals, ⁓ Twitter might be a better platform for you to be decided. I’m not sure Twitter has changed a lot recently. So it’s something that I would love to hear back from you if you’ve started off on Twitter developing your thought leadership and then decided to move to LinkedIn. But I’m also a big fan of events attendance.

And other things that I think work really well and has worked with people in my network is to invest time in writing our pads for newspapers. So if something is really important to you, to your area of expertise and you have an opinion on it, write to the newspaper and have it published. So I have many friends and colleagues that have done it as the CEO of a not-for-profit organization. We have.

ghostwritten for our chairs and board members so that they would have positions on behalf of our organization in newspapers when something was in the news that affected us ⁓ particularly hard or well and we would write op-eds that would then be ⁓ submitted by our chair or one of our board members for example and that’s something that ⁓ you can do as an individual from day dot from now and

you know, investing in learning. Like I said, programs like the AICG, the company directors course or the governance Australia course or the Harvard program. Please let me know if you’re in Europe or other countries. If you are a subscriber to my newsletter, reply back to it and let me know the organizations that provide training in your country. I would love to know just to have that on file for when I have clients. And I just

want to make sure that you don’t over invest in it too soon. These programs can be very expensive and it shouldn’t be the first thing you do in this process. Sometimes when we want something badly for our career, we tend to over invest in formal education first. And if things don’t work out, you have over capitalized in something that you maybe didn’t like. know, a lot of people test the waters with company

becoming a company director and then they realized that they don’t like it. And I have clients that have gone through it. They’re like, yes, now that I left my organization, I want to work with you, Renata, so I can get some board appointments. And then they got board appointments and they said, ⁓ I actually don’t like this. And then they ⁓ pivoted to advisory and consulting and contracting so that they could have those sort of hands-on.

approach, the hands-off approach was just too much for them. They weren’t ready for it. So don’t over invest in it too soon, right? Talk to people, make yourself ⁓ visible and have conversations and mentors, shadow people, see if it’s possible for you to spend the day with them and attend maybe some meetings where it would be okay for you to be ⁓ there, know, observing as an observer.

And all of that, I think, is beneficial for you to make up your mind and see if you’re not overly romanticizing board appointments.

Then, you know, in terms of expectations around pay and time commitment, this is another big reality check because many people think that board roles are glamorous and high paying and there’s low time commitment. So it’s like, if it’s too good to be true, it’s usually, as you know, not correct. So that’s not true for most board roles. Top paying.

Board appointments are really, really rare, right? So maybe you would have in a small country like Australia, think about the ASX 100, maybe there will be 10 opening roles in those ASX 100 well-paid board appointments. And they are fiercely competitive. And like I said, that five-year strategy or even a 10-year strategy to get an appointment like that is

needs to start today, right? So usually for directors that have a long track record of having reputation and advocacy on their behalf, start with unpaid or modestly paid roles. ⁓ Most start in the nonprofit sector or government boards. And then it’s not the time commitment is not just the 10 meetings per year, right? You should

double or triple that in terms of preparation time, subcommittee work and potentially meetings that will happen if there is a crisis. So it’s so disheartening for the executive team when board members come unprepared and for those high paying, very well regarded boards, that is just absolute no-no. You have to come very well prepared.

And remember what I said before about portfolio career professionals, people that have two, three, four board roles. They spend their time reading news. They also spend a lot of the time reading documents that they receive from the company secretary. Right. So you have to spend that time reading and enjoy it. So your motivation should be the impact and the contribution first.

and the pay secondary, especially in the beginning of your board journey. Now, a five-year plan to get board ready. Will it work? If you invest in it, it will work. If you want a board role seat in five years, here’s what I think you can start doing right now. So in years one and two, declare your ambition to your network.

audit your skills and identify gaps. Start building visibility on LinkedIn, explore training, don’t over invest in it, but start exploring the trainings that you might be able to invest in in the future. Then in years two and three, join a not-for-profit board or an advisory board aligned with your passion, one of your passions, if you have many.

Network actively in governance circles, attend events organized by the AICD, for example, if you’re in Australia or other events like that around the world, and refine your board resume, start putting it together and making sure it’s ready if you ever need to show it to somebody. ES3 and 4, seek mentors or sponsors already in board roles. Build credibility with them, demonstrate your governance skills,

target government and mid-tier boards. Ears four and five, position yourself for paid roles by leveraging experience, sponsors and headhunter relationships, continuing to build that strong brand that signals I’m ready for boards. So in conclusion and to recap, the boards value governance, they value strategy.

risk and diversity and judgment. These are not usually things that you would see in typical jobs that are advertised for operational roles. So you need to start thinking about it from a different mindset and a different perspective and start building your career around those things that board will value when you’re ready for them. Appointments will happen mostly through networks and sponsorships. So becoming board rep

ready does take five to 10 years of deliberate preparation. And then the compensation is often modest, but focus on impact and alignment in the beginning of a board career. Start now, build skills, build network, build visibility for yourself and credibility for yourself. And if you’re serious about a board career, remember that it is a marathon, it’s not a sprint.

And if you want to plan strategically, you can secure that board role within the next five years. Just to give you an idea, I have clients that are working with me to get board roles in the future. And we’ve been working together regularly for years. Right? So it’s all about building strategy and positioning themselves well, where they are located in their area of expertise and making sure we’re leveraging those connections and whatever gaps we have.

We are addressing them so that they are, you know, board ready when the time comes. So for the listeners who are also subscribed to my newsletter, remember that this week, the week that this podcast came out or comes out, you will have received the quiz. Are you board ready in the next five years, which can help you understand what you need to focus to achieve your goals. If you have

time or you want to dig deeper into this topic, remember that in the show notes, I will list a playlist with four previous episodes that I recommend that you listen to, including two with board members explaining the difference between getting your first board role and becoming a chair. And I thought that Moana Wiehu, who I did these two episodes with, was brilliant at explaining that difference. And the links again will be in the show notes.

I will see you next week to discuss LinkedIn and how you can better position yourself on LinkedIn. I will have a special invitation for you, a special proposal that I think will be very interesting and exciting. So please join me for episode 305. Thank you for being here until the end. If you must be very serious about boards, if you’re still listening, thank you so much and I’ll see you next time. Bye.