Pros and Cons of Board Members
Being invited to join a board is a big deal for a lot of people. It can increase your credibility, broaden your network and ultimately lead to more opportunities in your career or business.
If you’re not sure whether serving on a board is worth the effort of meetings, settling disagreements and analyzing financial reports, think about the fact that money isn’t always the major motive for board members. Your experience on the board can help you develop a variety of professional skills, which can prove beneficial to your career.
For instance, if are a member of the board of a young stage startup, your job can involve you running the company in a manner which is impossible to do in your current position. This could be the case for boards that are situated in fields such as insurance/managed health medical and law, finance/banking real estate, marketing or public policy, for instance.
A board member has the chance to learn from executives and leaders across a variety of industries. Working together to solve difficult problems can result in solid personal bonds.
Of course, there are other factors that affect the decision to join a board including compensation and special benefits that could range from use of the corporate jet and access to company products to test. It is essential to be fully informed about the expectations of the company including time commitments in clear communication, as well as your capacity to contribute.
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