The opportunity to serve on a board is not only a rewarding experience, but also an amazing chance to work alongside other smart and seasoned professionals, build your professional network and skills, and gain access to intimate knowledge about a company’s culture, decision making processes, and governance oversight. However, being a successful board member requires more than just a seat at the table. It demands a unique set of skills, a clear understanding of governance, and the confidence to make your voice heard.
Here are some insightful tips to help you thrive as a board member:
Prepare Like a Pro
One of the most important things you can do as a board member is to ensure you’re familiar with the bylaws. These aren’t just documents to skim over; they’re your blueprint for governance. You should think of these bylaws as your operation manual as they establish the company’s management structure and procedures. This manual will keep you and your fellow board members consistent when it comes to providing proper governance and oversight to the company and help you to resolve any internal dispute or conflict. Preparation isn’t just about knowing the rules; it’s about being ready to contribute meaningfully to every discussion.
Invest in Relationships
The boardroom is where big decisions are made, and big decisions require trust. Building strong relationships with your fellow board members is essential. Before the official business begins, most meetings kick off with a dinner or mixer a perfect opportunity to connect on a personal level. Get to know your fellow directors; ask about their families, their interests, and their companies, and also find out what is on their mind about the company right now. It’s also a great opportunity to network. This isn’t just small talk; it’s the groundwork for effective collaboration. A board that knows each other well is a board that works well together, especially when tough topics arise.
Speak Up
In the boardroom, your voice is your most powerful tool. It’s important to remember that you’re there because of your unique perspective and expertise. So, don’t be afraid to speak up when you have something valuable to add, especially if you see a potential issue. At the same time, be mindful of the dynamics in the room—collegiality is key. You don’t want to be the constant naysayer, but when something doesn’t sit right with you, it’s your responsibility to voice your concerns. Balance confidence with open-mindedness, and remember that healthy dissent can lead to better decisions.
Embrace Diversity and Inclusion
As a board member, you have the power to influence the culture and direction of the organization. Advocate for diversity and inclusion, not just because it’s the right thing to do, but because it leads to better decision-making and stronger business outcomes. Encourage diverse perspectives and ensure that all voices are heard. Your support for an inclusive environment will resonate throughout the organization.
Be A Board Member, Not A CEO
You are in a room with smart, accomplished people as your peers. Although you have a lead director and a board chair, other forms of hierarchy don’t exist, and everyone’s operational titles are irrelevant. That fact can be an exhilarating part of the intellectual and communications challenge that makes board service so attractive to many. Remember, your job is to provide oversight and guidance to management’s decisions, not to carry out operations yourself. Embrace this role as a guide, helping to steer the company toward its long-term goals while respecting the boundaries between governance and management.
Serving on a board is more than just a prestigious title—it’s an opportunity to make a significant impact on a company’s future. To do this effectively, you need to be well-prepared, build strong relationships, use your voice wisely, and stay focused on your role as a guide. With these strategies in hand, you’ll not only navigate the complexities of the boardroom but also leave a lasting legacy of leadership and insight.
Sheila Ronning, CEO & Founder, Women in the Boardroom.
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