- How to craft a compelling board bio that highlights your unique value
- The importance of networking in securing board opportunities and practical tips and tactics for “board-specific-networking”
- The unique attributes and differentiators CSOs can highlight to strengthen their board resume and increase their chances of selection
- Important considerations, risks, and factors you don’t want to overlook when evaluating board service
- Entry points for strategy officers who are looking to land their first external board position
Key questions covered in this podcast episode:
- (2:37) CSO introductions
- (5:43) Where would you suggest someone start to open up opportunities to serve on a board?
- (11:20) What are some of the differentiators that a CSO can bring to a board?
- (22:00) How do you think about which types of boards you want to pursue?
- (25:37) Who is looking for board candidates? How do you find these opportunities?
- (32:03) How did you initiate your search for a board position?
- (38:50) Additional recommendations
A CSO’s Guide to Landing Your First Board Position
As a chief strategy officer, you possess a unique blend of skills that can make you a valuable board member. While the path to your first board seat may seem challenging, experienced CSOs who’ve successfully made this transition share that it’s not only achievable but can be immensely rewarding for your career.
Start with Your Board Bio
The journey begins with crafting a compelling board bio. As Soderland emphasizes, “The board bio is different from your resume. It is intended for a board audience, and you’re needing to elevate your experience from whatever you do on a day-to-day basis to be more appropriate for a board governance role.”
Your bio should highlight specific areas of expertise beyond general strategy. Whether it’s M&A experience, digital transformation, or international expansion, be clear about your unique value proposition.
Leverage Your CSO Advantage
While boards traditionally favor CEOs and CFOs, CSOs bring distinctive perspectives. “CSOs bring the unique ability of not just handling fiduciary duties, but also taking the organization to where it should be in the future,” notes Padman. Your ability to spot patterns, see around corners, and think laterally across an organization can be particularly valuable for companies navigating transformation or scaling challenges.
Build Your Network Strategically
Networking is crucial, with 70-80% of board placements happening through connections. Start by joining organizations specifically focused on board preparation and networking:
- National Association of Corporate Directors (NACD)
- American College of Corporate Directors (ACCD)
- Private Directors Association (PDA)
- Latino Corporate Directors Association
- 50/50 Women on Boards
Consider taking a director fundamentals training course, which not only provides essential knowledge but also valuable networking opportunities. As Castillejos advises, “Start with your own CEO, let them know that it’s part of your development program. They should view that as a positive because you can be a much better executive if you know what to look for when you’re on the other side.”
Choose Your Path Wisely
When targeting board opportunities, consider both non-profit and corporate boards. Non-profit boards can provide valuable experience and networking opportunities while serving causes you care about. For corporate boards, look for companies where your expertise aligns with their needs but doesn’t create conflicts with your current role.
“Think of companies that have no conflict of interest with your own business and then pursue those companies that might need your help,” suggests Castillejos. Early-stage companies and scale-ups often particularly value strategic expertise and can be excellent starting points.
Be Patient and Persistent
Landing your first board position takes time, but as Soderland notes, “Getting to your first board is probably the hardest part but from there, be a good board member, and more opportunities will follow.”
Share your board bio with your network through personalized outreach, letting them know specifically what you’re looking for and what value you bring. Stay connected with executive recruiters, as most boards use search firms even when filling positions through referrals.
Remember Padman’s advice: “Be patient, build your brand, and be choosy.” The right board fit is crucial for both your success and the value you can bring to the organization.
Ready to start your board journey? Begin by crafting your board bio and joining a community of like-minded CSOs through organizations like Outthinker Networks, where you can connect with others on the same path and access valuable resources and support.
Episode Guest Bios
Desiree Castillejos is an independent Board member and a multi-lingual global Strategy and M&A executive with a demonstrated record of success in partnering with C-Suite leaders to acquire new businesses and expand channels by developing successful partnerships that drive revenue growth. She is captivated by the convergence of software and hardware and thrives in designing, planning, executing, and integrating M&A transactions.
Growing through acquisitions, partnerships, and business development are strengths for Desiree, with more than 20 transactions, creating multi-million-dollar businesses in new domains such as B2B services, SaaS, Machine Learning, Cloud, Analytics, Automation, Industry 4.0, and IOT. She has a strong flair for identifying the white spaces, sourcing companies for acquisitions and partnering with complementary organizations, which includes leading a strategic alliance with IBM while at Nokia.
With exceptional strategic vision, Desiree has deep industry expertise, financial insights, and analytical acumen. She is skilled at analyzing market, operational, human capital and financial risks related to mergers and acquisitions, negotiating deals, and refining strategies that maximize opportunity for manufacturing and technology organizations across the world. Additionally, Desiree has an innate approach to planning and orchestrating the integration of the acquired entities to ensure they deliver immediate value to the corporation.
Prasad Padman has twenty plus years of experience in energy, industrial, aerospace, defense, and medical end markets. He is experienced in leading strategic planning, business development, and business transformation for large global corporations.
He has been exposed to diverse work cultures, having lived and worked in several countries, including India, China, Singapore, and the USA.
He currently acts as the chief advisor to the CEO in making critical business choices, including Organization Design, Business Portfolio, M&A, and Resource Allocation decisions. He also works closely with the executive management and the board of directors in communicating and driving key strategic change initiatives.
Sukanya Soderland was most recently the CSO and Senior Vice President of Strategy, Innovation, Enterprise Data & Analytics and Business Performance and Process Improvement for Blue Cross Blue Shield of Massachusetts. Prior to joining Blue Cross, she served as a senior Partner in Oliver Wyman’s Health and Life Sciences Practice, co-founded the Oliver Wyman Health Innovation Center, and was the lead health care Partner in Oliver Wyman’s Digital, Technology, Operations & Analytics Practice.
She is a frequent speaker in national forums on healthcare transformation and serves on the boards of the Trustees of Reservations, Podimetrics, and the board of museum advisors for the Museum of Science. Sukanya holds an MBA from Harvard Business School and graduated magna cum laude from Harvard College.
Outthinker Networks brings together two executive peer networks – the Outthinker Strategy Network and the Outthinker Innovators Network – to help senior strategy and innovation leaders solve their most pressing challenges and keep their organizations ahead of the pace of disruption.
Are you a strategy, innovation, or transformation executive interested in joining one of our networks? Click the button below to learn more and apply to join.
