Pros of Board Members
Being invited to join a board is significant for many. It can boost your reputation build your network, and ultimately result in more opportunities in your career or business.
If you’re unsure if being on a Board is worth the effort of meetings, settling disputes, and examining financial statements, think about the fact that money isn’t usually a primary motivator for board members. There’s a variety of professional skills you will be developed through your board experience. These are extremely beneficial to your career growth.
For example, if you are on the board of a early stage startup, your job could involve you managing the company in a way that would be impossible to do in your current job. Boards that are based on areas of study like medicine, insurance/managed health, real estate, law/finance/banking or public policy might also benefit from this.
A board member has the opportunity to learn from leaders and executives across a variety of industries. As a result, working with them as a team to tackle complicated issues can result in strong bonds that extend to the personal level.
Of course there are other elements that influence the decision to become a board member such as compensation and exclusive benefits that range from access to the corporate jet to access to company products to test. The key is to ensure that you are well informed about what to expect from the organization in terms of expectations regarding time commitment and clear communication as well as the ability to contribute.