Should I move to take the next step in my career? Is now the time for me to launch my own business? Why should I invest in a Ph.D?
A personal Board of Directors (BoD) can facilitate your career decisions. Many of us have our friends, relatives, former teachers, or mentors that we go to for advice or to test ideas. This network is essential if you are feeling stuck or looking for your next move.
Why a BoD?
Tom Peters first coined the phrase, “You, Inc.” to illustrate the type of control we need to take for our own careers. When you adopt the mindset that you work for yourself, although full-time within one organization, your perspective shifts to greater collaboration and accountability. As an employee, your manager and organization are also partners in your career.
We need others’ expertise to help us explore and make informed decisions for both our career and life. Your BoD serves not only as counsel, but will broaden your perspective. They provide critical reality checks and they point you towards resources or in directions you wouldn’t find on your own. They help you formulate and realize your goals.
What do they do?
They tell you the truth. This means you create and nourish the relationships around trust: trust that you will listen to, work to understand and consider their advice, especially when you don’t agree. They can help you see blind spots of both strengths and skills. They will tell you how others may perceive you.
They share their own experience and professional advice. At times, they may pave the way or refer you for an opportunity.
Your BoD can guide you to resources and help with decisions around career opportunities, formal education or certifications and other major investments of time, effort and money. They will encourage, help problem-solve and hold you accountable for your career decisions.
Who do you need on your BoD?
You’ll want people who know your profession and aspirations. You’ll need professional expertise in the areas that support your aspirations. A BoD is comprised of people from outside your employer to give you a bigger picture.
A corporate board includes expertise from finance, marketing, legal, tax and technology to name a few. Your BoD should include mentors with experience and expertise in all the areas of your life such as these. Many people include spiritual guidance as well. Your family/partner also play an obvious role and need to be included in your decisions.
What’s in it for them?
They share their expertise and experience with you because they want you to succeed. It is that simple. As a bonus, through you and others on your BoD, they expand their own network of professionals and friends. You can pay it forward by referring business or contacts to them, as appropriate.
How does this work?
Initially, convene your BoD with an invitation to share breakfast (you pay) to meet each other and set an initial agenda. Meet as a group one to three times a year as you need them for planning and discussion. (Don’t wait for emergencies!) Keep them informed as to your progress and questions with a quarterly e-check-in. Meet with individuals as needed.
Decide if you want to provide a stipend for your BoD members. Be clear if you want this to be pro-bono. Use the initial discussion to outline how you want to work together and expectations – yours and theirs.
Your Board wants to see you succeed and may be with you for many years. Some may rotate off. Do stay in touch and be grateful for this valuable person in your life.