Personal Board of Directors

Most companies have a Board of Directors.  Boards serve many purposes.  They are overseers, ensuring the company is operating legally and ethically.  They are accountability managers, seeing that the company sets goals, has a budget and is meeting the goals and budgets.  They are advisors offering management expertise and guidance in all aspects of the organization.  They are ambassadors, promoting the company in the market place.  What if you had your own personal board of directors?  Here are some steps on how to create this.

Step 1:  Think about what you are trying to accomplish in your career or business over the next five years.  Identify the skills you need to accomplish these goals and what assistance might make the process run smoothly.

Step 2:  Make a list of all the people who might be suitable to sit on your personal board of directors.  These are people who have the skill sets you are looking for and may have already achieved what you want to achieve.  The list can include friends, colleagues, people within your current company, other professionals outside your company.

Step 3:  Choose five to six people to approach.  These people should not have a stake in your success – you want objective advisors.  Additionally, think about what you can offer in return to the people on your list because you’ll be asking them for a huge favor. Everyone has unfulfilled needs, and needs assistance in some area, but it may take effort on your part to discover what those needs are. It’s worth the effort and increases the likelihood of them saying yes to being on your Board of Directors.

Step 4:  Get organized and specific.  Put together a draft of a career plan or business plan.  Think through what you would do in each year to accomplish what you want to do by the end of five years.  This plan will serve as a starting point for your first board of directors meeting.  Look through your list of people and decide who could advise you on which aspect of the plan.

Step 5:  The approach.  Let the person know that you respect and admire them.  Let them know what you are trying to accomplish.  Explain what you would like the person to do to serve as your advisor on your personal board of directors.  Offer to reciprocate the same for them.

Step 6:  Board meetings.  As stated in Step 4, your draft plan will serve as your starting point.  Gather your board and listen to their advice and discussion.  Don’t be surprised when things come up you haven’t even thought of.  Revise your plan accordingly.

Step 7:  Ongoing.  Once the plan is in place your ongoing meetings will review what you’ve accomplished, what you plan to accomplish before your next meeting and challenges that you are facing.  Don’t forget to show your appreciation for the guidance and advice that you’ll be receiving.

Having a personal board of directors is a dynamic way of leveraging the collective minds of the best that surround you.  Be prepared for your career to take off and for you to accomplish more than you thought possible.

Do you have a personal board of directors?  What do you think of the idea?  What challenges might you face?  Leave your comments below.

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