Magazine Article | January 1, 2017

What You Need To Know About Being Ready To Join A Board

Source: Life Science Leader

By Rob Wright, Chief Editor, Life Science Leader
Follow Me On Twitter @RfwrightLSL

Last month I moderated a panel entitled, “Seeking A Board Seat.” Hosted by BioBreak in Philadelphia (a nonprofit organization that brings together senior executives from across the life sciences and venture capital industries), the goal of the discussion was to help executives not only figure out how to get selected for board of director positions, but also to determine which companies might be a best fit. During Thanksgiving dinner, I was describing the upcoming panel’s concept to my brother-in-law. He commented, “I thought companies picked the people who they want for their boards.” While true, this doesn’t mean you should just sit back and wait for the phone to ring. Conversely, you shouldn’t necessarily start reaching out to companies on an unsolicited basis. Serving successfully on a board typically requires the application of your acquired leadership skills in a slightly different capacity (i.e., more as a consultative guide). So if you think you are ready to join a board, before doing anything, you should first do a self-assessment.