BY: Lisa Nichols
For many executives, the next step in their leadership journey involves serving on a board of directors. Yet many are unsure of how to land the coveted position.
Before seeking a role on a board of directors, it’s important to have a clear understanding of what a board does and how it’s structured. Boards are responsible for hiring, firing, and holding the C-suite accountable for the results they’re achieving.
When going after this role, you need to have clarity about how your skills fit into the board’s function and structure and know how to communicate what you can help the board to accomplish.
We chatted with Eral Burks, the Founder and CEO of Minority Executive Search who shared insights surrounding this topic. Burks has decades of experience helping to prepare executives for a board search. Below he answered the top five questions executives have about landing their first board seat.
What are the most essential qualifications to highlight in a Board Resume?
“You need a clear definition of why you’re applying for this particular board. What do you know about the company, and what brings you here? Include some of your passion and why this company or organization is personal to you,” said Burks. Keep it to two pages and highlight your most relevant certifications and accomplishments.
What are the top qualifications boards search for?
“Financial understanding, budgets or financial projections, managerial skills, human skills and HR, technology (especially AI), team development, collaboration, exceptional written and verbal communication.”
What’s the best way to find open board positions?
“Network with current or former board members and retired CEOs,” said Burks. He also encourages executives to “Be strategic with where you send your resume. Send it to the top 20 companies you’re interested in to make sure it’s not oversaturated in the market.”
Burks believes it’s vital to research what your target companies are doing, and understand that the process may take time. Board seats don’t open up every day. Another strategy he recommends is considering smaller companies of $25 to $50 million when you’re looking for your first board.
How can I prepare myself if I don’t have any board experience?
Start with self-evaluation. “Ask yourself, am I ready to be a board candidate? Do I have the time to invest? Get as much experience and exposure as you can, whether a nonprofit board or smaller companies,” said Burks. Ensure that you have the qualifications you need – degrees, certifications, or experience.
How can I prepare for the board interview process?
The first step is learning as much as you can about the company, understanding the C-suite, current index, and what their pain points may be. Burks advises asking whether they’re replacing a retiring board member or bringing on a new one, which indicates growth. Since strong communication skills are essential for board members, ensure that you are clearly expressing how you can impact the board. “Let them know the value you add.”
Lisa Nichols helps organizations cultivate connected and engaged teams that achieve more together than they could alone through workshops, leadership development, and coaching for leaders. She loves networking, drinking coffee and inspiring others to own their unique value.
