New York Lawyer
April 23, 2002

Q:
How do I leverage my legal experience to serve on some boards, both not-for-profit and those of publicly-held companies?

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A:
Whether you�re promoting yourself for corporate or not-for-profit boards, the key is visibility. Sure, there are some headhunters who specialize in making corporate board placements, but unless you already have a high profile and lots of board experience, don't count on dropping 'em a resume and a charming letter and getting a lot of nominations. Therefore, to get on a board, you're going to have to get asked.

To get asked, you're going to have to be known, recognized, liked and respected. These values are far better conveyed through face-to-face contact and personal relationships than through any form of written self-marketing material, whether it be a resume, biography, expression-of-interest letter, or whatever. With not-for-profit boards it is possible to make direct contact by phone with the Executive Director or some other board members to express your interest, and sometimes that will trigger a meet-and-greet, grip-and-grin vetting process. And sometimes it won't.

Through constant and active networking, attending conferences, writing articles, making speeches and presentations, you can generate what a colleague of mine calls "Q Value," that is, enough name and achievement recognition to become top-of-mind in a particular group or cohort of relevant contacts. In New York, that may be harder than in Hartford, so what is important in any networking campaign is to try to work your contacts through various levels of visibility. Think of "The Three P's:" Proximity, Perspective and Power. That is, initiate networking with people who already know you and like you. It'll be low-key and comfortable -- and should lead to referrals to more contacts whom you don't know. Remember, however, your friends know you only in the way they know you -- just because they golf with you doesn't automatically mean they're aware of your deep interest in abused children's issues. At this stage, your task is to convey a clear, succinct focus: What boards do you want? Why? Why now? What skills, aptitudes (or fund-raising dollars) can you offer?

If this level of networking succeeds, you'll get referrals to folks with a lot of perspective. They may not have a lot of direct clout, but they will have a lot of visibility themselves, a broad perspective on your area of interest, an insider's view of what's happening -- and hopefully a deep Rolodex that they'll share with you. The Power level of contacts are the ones who can make things happen: open doors, make introductions, do a little jawboning. But you contact them only when you know exactly what kind of help you want. By the time you get to them, your goals and objectives should be razor-sharp.

Not-for-profit boards, by and large, are looking for one or more of these three attributes ("The Three W's"):

In my home town of Philadelphia, there is a splendid organization called Leadership, Inc. that grooms private and not-for-profit fast-trackers to be strong board participants and community leaders, and also serves as a clearing house for not-for-profit boards looking for additional board members. Presumably New York has a similar "instant perspective" resource to whom you can express your interests and bona fides and get a few referrals.

Be prepared: not-for-profit boards do not always love lawyers, particularly litigators. Sometimes attorneys are regarded as too assertive, too power-oriented or, conversely, as too risk-averse. Sometimes they are regarded as "deal-breakers" who often see the glass as half empty -- a particularly grave sin in a sector driven by proactive values and commitment.

Corporate boards present an entirely different set of challenges. The fiduciary responsibilities in a not-for-profit board are unlikely to expose a board member to errors-and-omissions issues; you don't have stockholders standing around looking for an excuse to file a class action. Corporate board members are supposedly selected explicitly for their professional judgment and extensive expertise. They generally are paid money (sometimes lots of money). Most frequently their ranks are populated by generalist line managers with a track record of success managing other corporations. However, there are lots of opportunities for board service for lawyers either with experience with certain types of companies or corporate sectors, or with a track record in corporate governance, corporate structuring, corporate finance, securities and/or regulatory compliance.

Lawyers who negotiate and structure deals for venture capitalists and investment bankers often hear of interesting board opportunities. Entrepreneurial lawyers often get in on the ground floor of an enterprise they're helping to get off the ground. IP experts may be attractive to technology or pharmaceutical companies. Even defense counsel can be attractive to a company whose very nature is likely to expose it to significant or repeated litigation. Accordingly, you may want to shape the legal disciplines you choose to learn and practice around how that expertise will play with certain types of corporations. In the world of not-for-profit boards, frequently motivation and commitment are everything; in the world of corporate boards, relevant skills and experience are as germane as your motivational drivers.

To approach private-sector boards, your contacts, sponsors and networking are particularly important. A lot more people want to serve on boards than there are openings, and private-sector boards also represent significant aggregations of power that is shared only carefully and judiciously. Here your best tactic may be to target a particular board or limited sector of companies and discreetly make your interest known through low-key but persistent networking. Often the first major board appointment is the hardest to get. Once you've proved your mettle and judgment, it is far more likely that other opportunities will come to you.

Sincerely,
Douglas B. Richardson
President, The Richardson Group