Many CEOs aspire to become board members after tenure. This can be a fruitful transition as it allows CEOs to continue playing a vital role in their companies without extensive day-to-day commitments. But it requires a change in approach that must be developed.

Leaders who wish to transition must develop certain skills, network with board members, and position themselves for board appointments. With the right approach, you will lead your organization to success in your new role.

Positioning Yourself for Board Appointment

A CEO positioning themselves for board appointments has already done a good portion of the work. They have demonstrated their success in an executive role in the company. They have shown expertise in fields such as talent management, technology, and succession planning. They have likely already networked with several board members.

But that doesn’t make CEOs a shoo-in for the job.

You can further establish yourself for the position by getting some boardroom experience under your belt- perhaps through a non-profit. You can begin this work during your CEO career so you can smoothly transition into your new role.

You should also develop your board proposition. This is typically a one-page bio that demonstrates the value you can add as a board member. It connects the dots between what the board is looking for and what you have established in your career.

Networking with Other Board Members

As CEO, you probably already have connections with board members, but as you face this transition, you need to work that angle. Consider everyone you know who is around boardrooms. This may include existing members, CEOs in your industry, board directors, and board connectors such as management consultants, investment bankers, and management consultants.

Let them know you are interested in the position and why you’re qualified. This strategy may help you get recommendations for the position.

You should also host and attend events that are related to your cause or industry- if you’re not doing so already. The purpose of attending is to showcase your work, share your stories, and engage with others, specifically those with boardroom leverage. These events will give you additional opportunities to demonstrate your value.

Develop Your Skills

Many of the skills you developed as CEO will set you up for boardroom success. However, some skills must be developed as follows:

The Shift from Day-to-Day Management to Big Picture Oversight

As CEO, your focus is on day-to-day operations. You are managing teams to ensure the company is moving forward. Customer service and order fulfillment are typical priorities.

Board members look at the bigger picture. They are concerned with the company’s strategic plan and financial health. You must learn to focus on the big picture as opposed to individual components.

Changes in Your Decision-Making Approach

Your decision-making approach must change as well. As CEO, you may have been used to making some decisions on your own. Once you’re on a board, all decisions are made as a group. You must learn to respect other’s opinions and avoid taking matters into your own hands.

Thought Leadership vs. Team Leadership

CEOs lead and support teams. They are focused on communication and maximizing productivity. Customer experience is another key priority.

The shift to board member requires a holistic approach wherein you become a thought leader for your organization and industry. You must come up with new ideas that support growth. Use your communication skills to influence other board members so they will back your ideas.

Corporate Oversight

Board members generally work with CEOs to improve the flow of business. It’s up to the CEO to pass on communication to other C-suite members.

If a board member bypasses the CEO and talks directly to other C-suite members about relevant changes, it could be interpreted as a move to compromise the CEO’s authority. It is now your responsibility to empower the CEO and avoid seeking out other leaders in the organization.

Financial Oversight

Finances are at the backbone of a CEO’s daily activities. They must constantly consider how their activities generate revenue and increase productivity. When shifting to a board position, you must consider finances as part of a bigger picture.

Board members look at long-term financials instead of daily activities. They consider the general customer experience and company growth trajectory. Like various other business aspects, this shift requires distancing yourself from daily operations to focus on higher-level strategies.

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