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Why You Need a Personal Board of Directors

Updated: 3 days ago

You need a personal board of directors if you are an entrepreneur, a leader, or a professional who wants to grow and succeed in your career. A personal board of directors is a group of people who can offer you guidance, support, and advice on various aspects of your work and life. Talking with friends and family members about your work can be helpful, but depending on their background and experience, they might be unable to give you the perspective and guidance needed to achieve your goals. This is especially true if you come from a blue-collar background where the rules for getting ahead differ from most white-collar jobs. In addition to your current network, it is helpful to identify peers, mentors, coaches, experts, and role models to help you better understand how to succeed in a business environment where business acumen, strategic planning, and networking are necessary for advancing your career.

Like a company board of directors, a personal board of directors aims to provide the guidance and support you need to fulfill your career goals. The knowledge and skills you have developed to this point of your career have gotten you to where you are, but to move to the next level, you will need to develop new skills, habits, and behaviors. Your current mindset might be getting in the way of letting go of tasks others could do, investing in your business, and making time for self-care. Changing your mindset is crucial as you move into senior-level roles within an organization or work on scaling your business. Having a routine of discussing current business challenges with a trusted group of advisors can help you reduce the feeling of being alone. The group can help you to

  • Gain new knowledge and skills you may not learn from your formal education or training.

  • Get valuable feedback and constructive criticism from people who can challenge and push you out of your comfort zone.

  • Be persistent when you face difficulties or failures.

  • Identify partnership opportunities and expand your network with potential collaborators, clients, investors, or mentors.

  • Receive opportunities for career development or business expansion.

Who's your support?

  • Friends

  • Family

  • Employees

  • Peers

You can vote for more than one answer.

There are four steps that you should follow when forming your personal board of directors.

Clearly define your professional goals. Depending on your goals, the people that should be on your board of directors will change. For example, if you want to become a Chief Marketing Officer (CMO), having someone on your board who understands marketing at a high level would be beneficial. It would also be helpful to have someone that is a Senior Executive that understands what it takes to reach the highest levels of leadership within an organization.