Getting yourself board-ready is a journey. To be successful, you must be realistic about the skills, experience, and value you bring to a board. 

Throughout the process, you should also be mindful that it’s a competitive marketplace. There is an oversupply of qualified corporate directors for a limited supply of available corporate board seats.

So, how do you determine if you’re board-ready? The first step is to ask yourself these ten questions, which will assess your readiness for leading and serving on a corporate board.

  1. Do you have a minimum of 10-15 years of experience in a senior executive role in the public, private, crown or not-for-profit sectors?
  2. Are you prepared to commit at least 200 to 300 hours per year to a corporate board role?
  3. Do you have the support of your Board of Directors and senior executives to serve on a board? Refer to the WGOB E-Guide on The Benefits of Serving on a Corporate Board to learn how to build this support.
  4. Do you have a formal governance certification or designation (C. Dir, ICD.D, CDI.D, GCB.D) from The Directors College, Institute of Corporate Directors, ACELLC or Competent Boards)?
  5. Have you ever served on a board, either not-for-profit or for-profit?
  6. Are you a team player who understands that board dynamics are one of the most critical components of good governance?
  7. Do you fully understand a corporate director’s role, responsibility and liability?
  8. Do you understand the difference between a board of directors’ role versus a management role?
  9. Do you have financial acumen—meaning that you read and understand financial statements? 
  10. Do you have experience in critical areas of our changing world such as risk management, international markets, M&A, cyber security, digital media, AI, data governance, ESG and sustainability?

Reflecting on these questions is an essential first step to securing your first corporate board seat. Once you have identified any gaps in your resume, you can work to enhance your qualifications, skills, and knowledge as a prospective board member.