Networking is often portrayed as the secret sauce to success. Borrowed from the computer world, the term networking was first used in a business context in the 1980s to describe ways to expand your customer base. It quickly caught on and is now an indispensable skill to build a successful career at any stage, including one in the boardroom.

The importance of knowing the right people increases as you climb up the corporate ladder. The most effective way to be considered for executive and director positions is through an introduction. A survey among board members revealed that almost 70% of directors at public companies find new directors through personal networking, professional networking, or word of mouth.

In it for the long run

The term networking doesn’t always have a positive connotation. A Harvard study showed that most people feel uncomfortable when networking is transactional, meaning the goal of connecting with a person is to get a fast return on investment. However, when done right and genuinely nourishing connections for months or even years, building out a network and tapping into it at the right time can make or break getting a new job, a promotion, an investment, or a first board seat.

Becoming a non-executive director is considered an attractive and natural next step for many executives. However, taking a seat at the top table is very different from applying for a job, and it can be a challenging pathway to navigate for first-time directors. To start, the number of open positions is limited. Connections alone are hardly enough; building experience and expertise, and mastering the needed skills are essential as well to get board-ready. Leveraging your network to land your first board position can be a multi-year effort. Building out that network before you might need it pays off in the long run.

Online or offline

In today’s digital world, face-to-face meetings are still of undeniable value, but engaging on LinkedIn or other professional networking sites is a must. These online platforms are an effective medium to showcase a strong business profile, (re)connect with professional relationships, and stay in touch with people. Learning how to navigate the world of digital networking can be daunting, but luckily there are plenty of books and experts who can help you get started.

Educate-Connect-Elevate

For anyone in the professional work environment - including the boardroom - networking is a necessary part of business. Attending professional events, building LinkedIn contacts, becoming a member of an organization like Corporate Boards USA, and connecting with (former) colleagues, are all essential ingredients to progress one’s career and grow directly and indirectly through the wealth of knowledge in the network that you thus create.

At Corporate Boards USA, our mission is to prepare executives to be highly qualified board candidates. We offer our members educational courses and events, networking opportunities, boardroom news, workshops, and mentorship programs.  If you’re serious about getting on the path to the boardroom, apply for membership. We Make You Board Ready.