Conduct personal research if you really want that board role

This is my second article on the type and extent of research you should conduct to substantially increase your chances of securing a non-executive board role. In this article, I will challenge you to take your board research to another level by conducting what I call Personal Research.

Despite the boring name, personal research is actually really exciting. Yes, at times you may feel a little out of your comfort zone, but this is where the magic happens and the true benefits come into play. I can assure you that most, if not all, of your fellow candidates will not conduct this level of research. When carried out correctly, it can have a profoundly positive influence on every aspect of your board appointment process.

Online board research review

It is expected that you and the other candidate for the board role will engage in some level of online research. Most will have studied readily available information about the organisation at least twice during the board application process.

Of course, there are benefits of online board research, and it should be where your board research task begins. However, regardless of how much time you spend at your computer, online or desk-based research will unlikely result in gaining any unique insights that can be used to differentiate you and your application from other candidates.

What is personal board research

Essentially, I group personal board research activities into two types: engaging and connecting. The range of activities and scope of individual activities you can conduct are endless, and will depend on how passionate you are about the board role and the time you have available prior to submitting your application and/or attending a board interview.

Engaging – suggestions for these activities include:

• • Physically visiting where the organisation conducts and/or manages its business. Get a true essence of who they are and what they do.
  • Experiencing the organisation’s products and services first-hand, such as mystery shopping.
  • Review the effectiveness of the organisation’s non-electronic advertising and promotions. This may include billboards, print media, TV ads, radio ads, branding, in-store promotions, and sponsorships.
  • Test the competition by visiting and experiencing what they offer and how they market themselves, and make comparisons.
  • Participate in promotional events, community events, or volunteer activities.

Connecting – involves developing relationships with people who are connected to, or familiar with, the organisation. These connections should include current and past NEDs, industry specialists, suppliers and sellers, corporate partners, and other stakeholders.

You can use online tools like email and LinkedIn to establish these initial connections. But to gain the best insights, I encourage you to conduct conversations either face-to-face or over the phone. In most cases, these conversations do not have to be formal; a simple invitation to meet for a coffee can provide a wealth of valuable insights. Regardless of the outcome, you have also established a new contact for your board network.

Conducting personal research with the right people can also result in the word spreading across a well-connected group that you are qualified, proactive, and motivated. At the very least, it can boost your reputation and profile. If everything falls into place, you might open yourself up to new board roles or opportunities.

Yes, personal research takes commitment

The level and type of research activities I recommend may make you uncomfortable because they require you to step out of your comfort zone. However, the reality is that a significant number of board roles reside in this non-traditional space. So, if you want to succeed in securing a board role or are considering a portfolio career, you must commit to practising effective person research.

Some of you might consider what I am recommending here as over-the-top or excessive. I understand that – it is a lot of work – but gaining a board appointment is a highly competitive process that, if you are serious about it, requires serious effort to achieve. I can assure you, based on my experience as a headhunter in this space for many years in the UK, that this type of research clearly makes a difference when making decisions about who to interview or who to recommend for a board role.

Personal board research is invaluable

I know the term I use, “personal board research,” sounds boring, but the results are far from it. The information and insights gathered should transform your board application, board interview, and conversations (formal or informal) with connections, gatekeepers such as recruiters, human resource representatives, selection committee members, or the board’s chair. This means leaving the comfort of your computer and personally experiencing and researching what the board, the organisation, the industry, and the competition do and don’t do.

So, why is it so valuable?

1 – Because so few do. One of the reasons personal board research is so effective is that so few candidates actually do it.

2 – It demonstrates a proactive approach. A proactive approach, shown in gaining a comprehensive understanding of the organisation and its position, can go a long way. A proactive attitude is typically seen as a valuable asset for a board member and essential for effectively fulfilling their duties and responsibilities.

3- It de-risks your appointment. This level of research will begin to demonstrate to the Chair that you won’t be a risk to the board’s fragile ecosystem. It also provides comfort in knowing that you have done your due diligence and you clearly know how you can be of value.

4 – It demonstrates your level of commitment. As a board recruiter, many times have I seen a favourite or known candidate being upstaged by an unknown candidate. This was due to the extensive personal research conducted by that candidate.

5 – It makes you a stronger candidate. To make the shortlist, a candidate must meet at least the required or basic selection criteria. To be appointed, you will likely need to meet some of the preferred selection criteria. The extent to which you can address these criteria can be influenced by what you have learned during your personal board research.

6 – To open doors to new board opportunities. 80% of board vacancies are filled through personal connections or direct approaches to organisations. The process of conducting personal board research may result in you having a conversation with someone who can connect you to one of these board vacancies.

Still have concerns about personal board research?

Some express concerns about delving deeply into this level of research, fearing it might seem intrusive or attract unnecessary attention. Others question whether such efforts will yield a sufficient payoff for the time invested. In certain situations, these apprehensions are indeed valid.

My advice here is to conduct extensive online research first. With this information, you should be able to establish your desire and fit for the role and organisation, and make an informed decision regarding the ROI on the time commitment required to engage in personal board research. If you decide to proceed, start with an introduction that clearly states your interest in the role or organisation, emphasising that you are not attempting to sway the decision-making process. If your intentions are sincere, you’ll often find yourself met with enthusiastic support.

Remember, the board appointment process is highly competitive. Being proactive is an invaluable way to get ahead of the rest. You want to be front of mind when decisions are being made as to who to shortlist and interview. Hopefully, the conversations you have had now make you a known quantity and less of a perceived risk to the Chair.

Of course, there is no silver bullet when it comes to gaining a board role; you need to do everything you can to separate yourself from the competition. Extensive online and personal board research can go a long way to do this.

Learning how to conduct thorough board research and apply your findings is just one of the 14 training modules included in our Executive Membership package.

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