The top 7 critical mistakes young people make when looking for a board role
Becoming a board director at a young age can be a tremendous boost to your career and the impact you want to make on the world around you. However, without the right preparation you can often make it much harder than it needs to be.
Here are seven of the most critical mistakes we see younger people make when trying to get their first (or next) role as aspiring board directors.
1) Assuming the Worst
The average age of most non-executive directors is over 60 years old.
The average age of most new directors is between 50-55.
Two big stats that can turn off any aspiring young director. Traditional thinking is that you only start your board career once you’ve had a successful (or long) executive career. This information could be enough to put off any would-be young director, unless you dig a little deeper.
There is a growing number of “young” (under 50 but also 20-40) directors on the boards of non-profits, start-ups, private and publicly listed companies, although the latter are still trying to get their heads around directors in their 40’s.
Don’t believe the hype.
The traditions of board recruitment are changing fast as boards recognise that generational diversity is crucial to future success. Younger directors bring different perspectives on an ever-changing world, are more digitally savvy and can be seen as more representative of what is now the largest part of the workforce, customer-base, and soon to be the largest investor base as they inherit assets worth trillions.
Not convinced? We all had to start somewhere and you are never too young to start a board career. Just checkout a sample of our Alumni who have secured fantastic board roles in the months following our programs.
2) Bypassing their motivation
One thing that you’ll discover as an aspiring board director is that getting a role can be closer than you think, but you still have to work hard.
Being a director is a serious commitment (although many are not as committed as they should be). Once you get there you certainly don’t want to live up to the stereotype that the young people of today are lazy, entitled and uncommitted.
You need to work on your profile and your relationships, you have to get out and talk to people in your network. You’ll probably have to apply for a few and you might get rejected depending on the “seniority” of the appointment. However, just like anything in life, the more effort you put in, the more you’re likely to get out of it.
But, first and foremost, you have to get clear on your motivations. Why do you want a board role in the first place? This will guide you and keep you on track.
What are your motivations? Do they match these?
3) Not having focus
Do you know which type of boards you want to be on and why? Do you know what makes you stand out from a crowded market of candidates? Do you have a high quality resume and LinkedIn profile? Are there people willing to vouch for how awesome you are?
If you want to become a director at a young age, you have to sell yourself. But in order to sell yourself effectively, everything about you must shout credibility, contribution and value. The more focused you are on what you want and what you have to offer, the more powerfully you can communicate this in a way which is attractive to boards.
One of our youngest graduates, Parrys Raines, was recently appointed to the Future Business Council board and their chair, Alison Rowe, told us that she was impressed from the very start by how Parrys knew exactly what her unique board value proposition (what we call ‘BVP’) was and how this would fit with their organisation. Parrys is now on a seriously well-credentialed board at the tender age of 21!
4) Not telling anyone
It’s not just boards that are attracted to powerfully communicated purpose, values and value, your own network (comprising friends, family, colleagues, peers etc.) can be tremendously valuable if they know who you are, why you do what you do and what you could contribute in the boardroom.
But, unless you are out making the effort and armed with your BVP, your network are not going to know. Get out there, talk, meet, share and not just those that you know – some of the most successful graduates of our Board Ready Program have met people they didn’t know because those were the people identified as future mentors or sponsors.
5) Thinking it’s all about knowledge
What you know is important. Your expertise matters. Your operational experience matters. Do not discount this.
However, what’s far more important in the boardroom is how you ask questions. How you seek out information that can inform your decisions. And, as a collective governing structure, how do you interact with others - those that agree with you AND those that disagree.
How you influence
How you persuade
How you listen
How you share your ideas
How open you are to new ways of thinking
People call this various things, but it can easily be summarised using EI, EQ or Emotional Intelligence. IQ will only get you so far in the modern boardroom.
6) Using the wrong CV
Play your cards right (and learn from us) and you may never need to submit your CV as part of an interview process for a board role.
In reality, you’ll need one.
So, which one should you give them? The one that you did a few years ago for your day job? Obviously updated, right?!
Wrong.
The Board CV is can seem very similar but it’s very different.
Why?
The Board CV demonstrates your value as an overseer not operator
The Board CV leads with, and focuses heavily on, your ‘governance experience’ (and remember that’s all about decision-making in teams - that’s the experience if you’ve never sat on a board before)
Boards are time poor, so the Board CV is short and succinct. It proves you can communicate powerfully in as few words as possible
Finally, whilst you can have a template, a great Board CV is always tailored to the role you are applying for. It addresses the company’s challenges, needs and opportunities. It’s still authentically you, but in their language
7) Not doing your due diligence
You’ve put in the effort and managed to score a great role as a director. Congratulations! Do you know what to expect when you walk into the boardroom for the first time? Do you know your fellow directors, their roles and responsibilities? Do you know what your chair expects of you? Are you going to get confused by procedure and jargon? Does the board have director’s insurance or a Code of Conduct?
It’s flattering to be offered a board role at a relative young age but easy to be swept away in your ego. Not every board is right for you. Remember, it’s unlikely you’ll be doing this for a living at this point so make sure you only say yes to the boards that fit your values. Make sure the boardroom is not a toxic mess of politics and hidden agendas unless, having done the work on you, that’s exactly the type of place you think you’ll thrive. It takes all sorts.
Also, don’t waste your first few meetings learning the ropes. You don’t have to be the best, but it’s better to be prepared so your fellow directors give you the respect you deserve from day one.