The Risks and Rewards of Being on a Board
The single most important task before you join a board is due diligence. Being a director on board is a tradeoff. On the one hand, there is exposure to reputational and financial risk. On the other hand, there are benefits – tangible and intangible. In a world marked by disruptive forces, sharp scrutiny, and tighter board accountability, wise director candidates are asking more questions. Whether you are considering a for-profit, non-profit, government, or advisory board seat, examining both the risks and rewards in a systematic fashion sets the groundwork for a thoughtful career move.
Joining a board is a significant decision. That said, as a potential board candidate, it is wise to invest the time and money into a systematic due diligence process and discuss the results with an attorney, a board consultant, or other professionals before making the final decision to join a board.
For more information: New Director Board Due Diligence