Series Volume 7: Why Build an Effective Board For Your Company?

DEC
30
2016
DEC 30, 2016
Series Volume 7: Available Options & Services to Build Your Board Team
 
The previously sent Series 1 through 6 of this newsletter have given you insight into the steps in building, or evaluating, an effective board for your company (see links below if you have missed these). Now, how will you find the right people for your Board? This is not an easy task, but a very important one...
 
Remember, It's Always About The People!!!

You have evaluated your company's values, vision and mission (newsletter Series #4), built your 'Sphere of Influence' model (newsletter Series #5) and evaluated the importance of your 'Planes of Congruence' considerations (newsletter Series #6) - all in support of planning, selecting and attracting great Board members as well as fostering a constructive environment. Now you will have to find the proper Board members to support your plan...

Today you have multiple options in building the right board team:
 
  • Executive Search companies specializing in Board positions are always an option. Increase the success rate of these types of searches by sharing your plan (Values/Vision/Mission, Sphere of Influence, Planes of Congruence) with the search company so they have multiple dimensions of what successful candidates look like for your organization.
     
  • Networking Groups can help to expose your needs to the proper individuals, too. Make your intentions clear and definitely mention that you have a strategic plan to build an awesome Board. Word will travel fast...
     
  • Associations such as the National Association of Corporate Directors (NACD) and the American College of Corporate Directors (ACCD) have great outlets for identifying viable Board members both in formal ways (through the organization) or informal ways (by attending events and forums for networking).
     
  • Even LinkedIn has made Board member searches quite simple allowing you to laser-focus on your ideal candidates. See a helpful article by LinkedIn to assist you in maximizing your search criteria. Their search functionality has really improved - pay special attention to the Boolean search criteria. Also, for an example of a 'highly searchable' LinkedIn Board member profile with multiple search criteria embedded, see mine here - this was created with enhancements compliments of Mike Lorelli.
     
  • BaaS - In cases where your available time to build a proper Board is scarce, the option of a fully-built and for-hire Board of Advisors can be the answer (see Board as a Service - BaaS). Be ready to be off and running immediately if you choose this option as the team is already formed and ready to get started day one!
Keep in mind that building and governing a Board will require time and work no matter what option, or combination of options, you choose. However, this will be time well spent.
What will you consider when building or evaluating your Board?

Continue to read our ongoing series on the important focus areas you need to be thinking about in order to build or evaluate an effective Board for your company.
 
Our upcoming Series #8 newsletter will focus on Board Member Evaluation and Selection

 

About the Author:  In addition to sitting on numerous boards, Mark A. Pfister advises public, private and non-profit boards in efficient and effective operations. He is the inventor of the 'Board as a Service' (BaaS) engagement model and an expert project / program manager frequently consulting on strategic global initiatives in their initiation phases as well as programs that require remedial focus to bring them back on track. Mark holds a Professional Director Certification through the American College of Corporate Directors (ACCD).

Have Mark join you with his 2017 National Speaking Tour 'Building an Effective Board For Your Company' as he shows business owners and leaders the immense value of creating an experienced 'go-to' team.