As a board consultant, I have heard a number of stories from first-time directors who gained a board seat only to discover troubling issues ‘after’ accepting the board position.
The single most important task before you join a board is due diligence. Instead of merely examining the rewards of board service, a board candidate needs to explore both the risks and rewards.
In a world marked by disruptive forces, sharp scrutiny, and tighter board accountability, wise director candidates must ask more questions.
Whether you are considering a for-profit, non-profit, government, or advisory board seat, examining both the risks and rewards in a systematic fashion sets the groundwork for a thoughtful career move.
Not everything that glitters is gold!