“Ghostbusters!” Let’s face it, you were already thinking about it. You can thank me later for putting the theme song from that enduring movie series in your head.
This has become a topic that I have been discussing increasingly with my clients. Let’s face it, not everyone’s opinion is of equal value. Entrepreneurs who are in the building phase will take all the free advice they can get. While that may work for a while, it won’t work forever. As time goes on, we need to create more intentionality on who we will draw into a conversation and what type of counsel is needed.
I once was having a conversation with a client. We were discussing a particular idea and he suggested taking it to his whole team for feedback. I asked if he was open to some feedback from me. He said he was, and invited me to share my observations with him.
“You need to consider which voices you are bringing into these conversations. I’ve observed you feeling as if you need to take every decision to all members of your team. If you have an operational issue, it’s up for all to decide. If you have a content issue, it’s up for everyone to decide. This is undermining your own decision-making ability and theirs. It’s important to the people who have expertise in a particular area to be empowered to run point and have voice and vote. When you allow others with no experience or passion in a particular area to weigh in on every issue, it blurs the lines of decision ownership and accountability.”
It’s common to want to talk things out, and in younger or smaller organizations, the way my client was doing this is how it usually happens. For a season, this is harmless—providing it doesn’t result in a codependency in which an organizational leader or business owner isn’t abdicating their job to others. As organizations grow, however, there is a maturity and wisdom that is needed which exceeds this methodology.
This is where a personal board of directors comes in. I was first introduced to this idea about 15 years ago while listening to a talk that Jim Collins was giving with 10 things that every person under 30 should be doing. I had never really thought of the concept before, and it intrigued me. I began thinking about what seats I would want to have. I began to think about what sorts of people I could invite to fill them. What qualities would I value? What expertise would be helpful to me? Once I answered those questions, I started assembling my personal board. These individuals have served me so powerfully as I have sought their wisdom, support, counsel, and challenge over the past decade and a half.
The idea of a personal board of directors recently came up again in conversation. And then it came up again, and again, and again. The people that I have shared it with have peppered me with questions and asked me how they can implement it in their own lives. Because of this strong response, I decided to write about it here and share it with all of you, because it clearly is serving people very powerfully.
It’s impossible to be exhaustive in how to best go about this in a five minute read, so allow me to provide some suggestions on which seats I advise having and how to get started. I suggest five seats for a board of directors.
In general, the personal board’s job is to protect your core values and ensure your actions are aligned with your desires.
Future: The reason that I am starting with this position is because the work done with this individual will provide the foundation for the work done with the other directors. The director who helps to advise on the future is someone who helps us get clarity on vision, mission, values, and long- and short-term goals. They help us create a clear picture of what kind of impact we want to make in the world and what our lives will look like 10, 20, or 30 years from now. Oftentimes, this is a really wise, mature person, and I would personally recommend it be your coach.
Finance: This seat is often held by a financial planner who is working on understanding your future goals and can help you align your short- and long-term finances with them. This person must have the heart of a teacher and servant. They cannot be more interested in themselves than in what you want.
Fitness: I’ve worked with many leaders who have devoted themselves singularly to their careers and finances without consideration for their mind or body. At earlier points of my career I, too, was one of those leaders. The individual who fills this seat helps with nutrition, strength training, and cardiovascular exercise. In some cases, there may be multiple individuals who serve under this larger heading. It could include individuals who assist with mental health and fitness. I’m grateful that we are increasingly coming to understand ourselves as body, mind, and spirit.
Faith: Speaking of spirit, I recommend everyone have someone on their board from their faith tradition. As a Christian, I have a spiritual director that I meet with monthly to talk through my spiritual health, my relationship with God, and to discern together God’s best for me.
Family: Each stage of family life presents new opportunities and challenges. It’s hard work to be a spouse, parent, adult child to an aging parent, and it can often feel like building the airplane as it’s being flown. The fact is that having someone who is 10 years ahead of us in life and family life can be really helpful. I think this is especially true for men, who struggle with vulnerability. Having someone to talk through with marital and parenting challenges is such a gift.
These are merely recommendations. I trust that, now that you are introduced to the concept, you can design a personal board of directors that will help you to live your healthiest life and run a successful organization. Regardless of what seats you create, ensure that these individuals understand your values, love you so much they are willing to tell you the kind truth, and have both knowledge and experience in the areas you are asking them to serve. This isn’t something to be rushed. Interview people—with or without them knowing it—and create the board that you need.