Many skilled individuals find developing a Non-Executive Director (NED) career so daunting that they abandon their pursuit. Conversely, some individuals find themselves inundated with invitations to join various boards. Why is it that, for some, this is the case? What is it they know that the rest of us don’t?
Having worked now with thousands of both aspiring and successful NEDs, I can shed some light on this topic. Specifically, I recommend six actionable steps to enhance your appeal as a NED candidate, setting you on the right path to a successful NED career.
What does it take to develop a NED career?
Every NED’s career, whether it be a succession or portfolio of board roles, will look a little different. And so will their path to obtaining those roles. However, addressing these six fundamental steps makes the process less daunting, less frustrating and more successful.
1. Know your NED target organisations
When developing a board career, you must be crystal clear about what boards and types of boards you want to be appointed to. It is fundamentally important that you are, as you will risk coming across as opportunistic rather than strategic and committed. Furthermore, if you are clear about your NED targets, you will be rewarded with a greater ROI on your time.
Ask yourself these 8 questions to help define your NED target organisations.
2. Set realistic board aspirations
Grand aspirations may drive you, but you may be wasting your time and efforts if they are unrealistic. Successful NEDs know their worth, and they know what organisation would genuinely appoint them. When developing a NED career, you should set short-term and long-term goals. Consider what short-term goals will help you achieve those more aspirational long-term goals. Balance your aspirations with the reality of your appointment potential.
3. Have a process and plan that you can follow religiously
Successful NEDs have a plan and processes to stay focused. It all begins with their target list of organisations from Step#1. For most, this is a physical list that they maintain and adapt, but more so, it provides a framework to keep them focussed.
A solid plan (refer to the model at the top of the page) should be proactive and not reactive, including having the documents and tools to set you apart from the competition. Be ready with your board pitch, NED CV, NED cover letter, interview preparation, industry and company research, valuable connections, plus governance qualifications and/or experience.
4. Network regularly
80% of board appointments occur without dealing with recruiters or responding to formal advertisements. Your connections and networks are key to accessing these hidden board opportunities. Successful NEDs don’t come ready built with these connections. They build and nurture them. They do so in a focused, proactive manner with a targeted but authentic approach.
Many people I coach feel anxious about networking and consider it their greatest challenge. This is until I explain how to network authentically and legitimately. Networking should never be about cold calling. Instead, you can implement simple techniques to build the necessary connections. My tip is to spend less time on your motivation (let’s face it, everyone wants a board role) and more on motivators your connections will value.
5. Be consistent and persistent
Once you have a clear framework, you must be consistent and persistent when applying your plan and the required tasks. Although it may sometimes feel tedious and disheartening, you must allocate regular time to the process to prevent burnout.
Establishing a NED career is not a one-off exercise, even for those who found gaining their first appointments relatively easy. It takes time, but this time can be reduced by learning how to work smarter. Don’t keep doing the same things over and over that do not work. If you are managing an executive career whilst developing a NED career, time management is critical.
6. Expect success through a positive mindset
Positive thinking never goes astray during the process of developing a NED career. Regardless of your skills, experience and business acumen, it is likely that you will experience setbacks. Don’t give up by adopting a positive mindset. Use setbacks as an opportunity to learn, refocus, and, if needs be, adjust your board aspirations and plan to achieve your board career goals.
Conclusion
Developing a successful board career as a Non-Executive Director (NED) requires a strategic approach encompassing self-awareness, skill enhancement, and relationship building. By defining what you bring to the table, seeking relevant experiences, and nurturing your network, you set a solid foundation for securing your first and future board positions. Consistency and persistence are key, and a positive mindset will help turn setbacks into stepping stones to a rewarding board career.
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Defining board targets – 8 Questions to ask yourself
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About the Author
David Schwarz is CEO & Founder of Board Appointments – The UK’s leading board advertising and non-executive career support firm. He has over a decade of experience of putting people on boards as an international headhunter and a non-executive recruiter and has interviewed over one thousand non-executives and placed hundreds into some of the most significant public, private and NFP roles in the world.