Leadership Talks: Women in Venture Capital – Insights from Leading Women Veterans
I’m excited to share with you all about the fantastic webinar event that I hosted on April 19th. As the moderator, I had the pleasure of leading a panel of four leading women veterans of the C-suite leadership ecosystem, where we discussed a range of governance topics with a focus on enhancing balance, expertise, and composition in the critical board environment of private and public companies.
During the webinar, we covered three insightful segments that focused on the historical perspective of women in the VC industry, building diverse teams, and nurturing the next generation of female founders and board members. One of the highlights of the event was hearing from the panelists about the people they admire in the VC industry and the valuable lessons they have learned from them.
A Short Preview of the Webinar: https://boardsi.com/short-preview-leadership-talks-women-in-venture-capital-webinar/
Full Webinar: https://boardsi.com/leadership-talks-women-in-venture-capital-webinar/
At Boardsi, we’re committed to promoting diversity and inclusion in the VC industry, and we believe that nurturing the next generation of female founders and board members is essential for driving real impact. We’re grateful to all our panelists and attendees who joined us for this fantastic event.
If you missed out on the webinar, you can catch a short preview of it on our website, and the full webinar is available for viewing as well. This webinar marks the beginning of an exciting journey for us at Boardsi as we enter the VC community and launch a new initiative to promote diversity within the board sector and beyond.
Stay tuned for more updates on our upcoming events, and thank you for your time!
Executive branding: LinkedIn Profile, how is yours?
LinkedIn is a great way for professionals to show potential employers, clients, and peers their skills, experience, and accomplishments.
When companies are looking to fill a Board of Directors or Board of Advisors position, they often turn to LinkedIn as a research tool to identify potential candidates. Because of this, it’s important for professionals to have a polished, up-to-date LinkedIn profile that shows off their skills and accomplishments.
One of the first things that companies may look for when researching a candidate is their profile picture. A professional headshot can help you make a good first impression and show that you are professional and pay attention to details. It’s also important to make sure that your profile is complete, with a detailed work history and a summary that shows off your skills and experience.
In addition to having a well-crafted profile, it’s important to use LinkedIn as a platform to brand yourself as an expert in your industry. This could include sharing thought leadership content, participating in industry discussions, and engaging with others in your network. By showing off your skills and knowledge, you can make yourself more visible and more credible as a possible candidate for a board position.
When companies are researching candidates for board positions, they may also look for evidence of a candidate’s ability to work collaboratively and constructively with others. This could involve looking at endorsements or recommendations from other people in the industry or looking at the candidate’s activity on the platform to see how they interact with people in their network.
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How to Best Recruit Board Members Outside of Your Industry
The value of board members from outside your industry cannot be understated – here’s why.
ew individuals are experts in everything. Even the cumulative expertise in most businesses could use input from more experts in diverse areas. This is why we have boards — a panel of experts in areas that fill in the gaps in our existing company knowledge base.
But even once we find the right group of experts from our industry to take a seat on our board, we would still stand to benefit from the wisdom of more diverse perspectives and experiences. Their range of successes and failures becomes additional resources to put together more tried and tested strategies in the face of new challenges.
Outside board members can bring a lot to a company, but to find the right ones for the job, we need to know what to look for:
Related: How Board Members Can Help You Through a Recession
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How Board Members Can Help You Through a Recession
With recession looming, having a strong board is now more important than ever.
First, COVID-19. Then, health mandates. Add in choked-up supply chains, the Russia-Ukraine war, rising prices, interest rates, and inflation. Economists are starting to unite around the prediction — a recession is inevitable.
No one has a crystal ball, and the future seems more uncertain than ever, but if we break these problems down (e.g., pandemics, war, and rising food and fuel prices leading to a recession), we realize that many of us have lived through similar challenges before. Either we made it out on the other side alive and thriving, or we made mistakes and learned what not to do. These insights are valuable for getting through this next round of uncertainty.
Alone, a business owner can see issues from a limited amount of angles. Especially as first-time leaders, it can be hard to think outside the box with little experience to reference. But, with a board, its members’ expertise can help in more informed decision-making. Leaders can lean into the diverse range of expertise their board members have — their “been there, done that’s” — to tackle challenges and opportunities better and get their company through even the toughest of times, including the oncoming recession.
Related: Building a Better Board: 5 Things Every New Board Member Should Know
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Finding the Right Board Members for Your Company is Crucial to Success. Here’s How to Do it.
Finding the right board members for your company is an important task. Here’s what to consider.
Once upon a time, a new startup rushed through the process of bringing board members into their company. Its leaders were young and inexperienced. They went through the process without third-party guidance or a deep dive interview with candidates. They met smooth-talking members looking to be partners and were sold on something grand, but what the candidates delivered was the total opposite.
The partners’ experience was less than they let on. Their mission, vision and values were out of alignment with those of the existing members. Things quickly started to fall apart and the startup founders suffered through years of pain before the company eventually dissolved.
I’ve heard this story many times in my job guiding board formation. So many leaders lament that fewer mistakes would have been made if they had just had connections to more of the right people who matched up with their company’s core values, ambitions and guidance to vet those candidates.
“But none of that happened,” they tell me. “We signed papers and got screwed.”
Not many founders consider their board’s composition, but taking the time and care to cultivate a board of inside and outside perspectives across diverse experiences can be a company’s number one predictor of success. Building a board is a big deal for your company’s success and must be done correctly. Here’s how to do it right.
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The Time for Outside Board Members is Now
Outside board members are the x-factor that will propel your company out of times of crisis.
Outside board members have always been a necessity, but today they are more important than ever. When a company can turn to a board with a broad diversity of insights and with members from outside the company, they receive guidance that can be the advantage they need to survive tough times. Nowadays, it seems like times are only getting tougher.
As problems increasingly have global repercussions, every decision we make could make or break a business. Outside board insights have always been a necessary consideration for staying agile and strengthening decision-making power, but now, those insights are becoming indispensable. To be more in an uncertain future, bring on outside board members for a broader selection of expertise to fill a company’s gaps and the best chance of coming through anything on top.
Related: Why E-Commerce Businesses Need to Rethink Their Channel Strategy
Look outside your company for the best fit
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How Your Board Should Guide Your Hiring Practices
“The Great Resignation” does not seem to be letting up any time soon, so take advice from your board in order to revamp your hiring practices to retain and recruit strong employees.
Just as the remote work trend brought on by the pandemic never seemed to go away, “The Great Resignation” is starting to seem like a permanent shift in today’s business landscape. People left in masses and moved on to better pay, more perks and greater flexibility — and are unlikely to give this trend up any time soon.
For a company to keep up with the changing face of business, its leaders need to be frequently evaluating their company hiring practices to recruit, attract and retain the right employees for the job. This can take a lot of time strategizing that CEOs may not always have to spare while running a business. For support in uncovering otherwise overlooked areas to maximize advantages in hiring, leaders should turn to their boards to guide them.
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