The Common Thread

I spent yesterday afternoon at a dynamic program sponsored by Women in the Boardroom. The two-hour program focused on assisting women who are interested in preparing for board service. While the primary goal of the program is to provide attendees with the tools, resources and networks to serve on for-profit boards, the panel also talked about serving on not-for-profit boards.

The panel included four women who have all served on both for-profit and not-for-profit boards.  Their experience included serving on boards of publicly held companies, privately held companies and not-for-profit boards.  As they reviewed their own personal stories and the lessons learned, I was struck by the overlap between for-profit board service and not-for-profit board service.

My experience in working with, and serving on, not-for-profit boards dovetailed with all of the points the panel covered.

The discussion included the role of being a director; the differences between non-profit, private and public board service; the board selection process; being an effective board member; and positioning yourself for board service. An important point was matching your skill set and credentials to board service.

All four women talked about the time commitment involved in board service. And, all four also talked about the risks and rewards associated with board service.  One panelist also provided insight into exit strategies.

After the program, there was a brief meet and greet. It provided an informative overview of the many talented women who made up the audience and were interested in board service.  It left me wishing for more time and looking forward to next year’s program.