Board Shorts Podcast

I'm diving into the essential foundations of board service. If you've ever asked, "What exactly is a board?" or "Why should I join one?", you're in the right place.

What I Cover:

• Defining a Board:
• A Board is a group that oversees an organisation's activities, acting as guardians of its mission and long-term health.
• We distinguish between governance Boards and advisory Boards (more on advisory boards in episode 107).
• Board Responsibilities:
• Setting strategic direction.
• Providing financial oversight.
• Hiring and supervising the CEO.
• Ensuring legal and ethical compliance.
• Essentially, ensuring the right things are done, at the right time, in the right way.
• Board-Management Relationship:
• Boards operate at a strategic level, separate from day-to-day operations.
• Management handles operational tasks, while the Board provides guidance and oversight.
• Think of it as a collaborative partnership.
• Why Join a Board?
• Make a real impact and shape an organisation's future.
• Develop leadership skills in strategic thinking and governance.
• Give back to your community and support causes you care about.
• Expand your professional network.
• It's ok to seek personal benefit, if you are serving to the highest standard, and for a full term.
• Fitting Board Service into Your Life:
• Be selective and choose a Board that aligns with your values.
• Realistically assess the time commitment.
• Use technology for remote participation.
• Prioritise effective time management.
• Ensure that you are truly able to commit the time.

Key Takeaways:

• Boards provide strategic direction and oversight.
• They work in partnership with management.
• Board service offers significant personal and professional growth.

Links & Resources:

• Episode 107: Finding Your Perfect Fit – Understanding Board Roles and Structures
• Start your Board journey with The SpringBoard Program
• Get on Board with Break into the Boardroom

Thank you for listening! We hope this episode has provided valuable insights into the fundamentals of Board service.

Landing a Board seat can feel like navigating a maze, especially if you're unsure where to start.

Many aspiring Board Members limit themselves by thinking only of large, publicly listed companies. But the truth is, diverse board opportunities exist across various organisations – from nonprofits to startups and beyond.

In this episode, I dismantle the myth of the "pointy end of town" and explore the rich landscape of Board roles and structures. Discover the difference between advisory and governance boards, paid and volunteer positions, and where to find these hidden gems.

This episode is your essential guide to unlocking your Board potential and taking the next step in your leadership journey.

Mentioned Links:

Episode 103 – Understanding your Unique Board Value Proposition

Episode 102 – Setting a Board Goal

Join The SpringBoard Program priority waitlist

A Chair of an ASX-listed company, Genevieve Gregor joins me to share insights from her Board journey. We look at Genevieve's journey to the Boardroom, starting with work-related Boards, to becoming Deputy Chancellor at the University of Western Sydney, to now the Chair of Noumi Limited. Genevieve shares how her professional skills combined with her interests and passions, along with some help from some professional friends, supported the Board career decisions she made. Genevieve shared her biggest Board challenges – including something that ALL Board Members need to be attuned to – and the strategies she uses to overcome them, including how she has developed a knack for seeing around corners. She shares her key words of advice for aspiring and emerging Board Members and her vision of the future of Boards. You can find Genevieve's full bio in the notes to this episode, along with a link to her LinkedIn profile where I invite you to connect with her there.

About Genevieve Gregor

Genevieve is an experienced Non-Executive Director (NED) across public and private companies. She is a NED and Chairman of Noumi Limited (ASX:NOU) a food and beverage manufacturer in dairy and plant based beverages, consumer nutritionals, and specialty ingredients. In 2024, she joined TPG Capital, Australia as a Senior Advisor, and as a Non-Executive Director and Chair of Audit and Risk of Eternal Holdco Limited (Invocare.)

Her previous NED roles include Moneytech Group Limited, a specialist Australian SME lender providing trade, debtor, and equipment finance products, and Monoova Limited a B2B real time digital payments provider.

In 2017 she co-founded Colinton Capital Partners, a mid-market private equity firm investing in Australian growth companies. Prior to June 2017, she was the co-head and Managing Director of the Asia Special Situations Group in Australia for Goldman Sachs for eight years. In this role she ran a lending and investing business which provided capital to fast growing companies and turn around capital to distressed situations.

Genevieve earned a Bachelor of Economics from the University of Queensland and a Graduate Diploma in Applied Finance from the Securities Institute of Australia and was awarded an Honorary Doctorate of Letters from Western Sydney University. She was the Deputy Chancellor of Western Sydney University (WSU), Chair of the Finance and Investment Committee and Trustee at WSU for 12 years.

Connect with Genevieve on LinkedIn

Thanks to our sponsor BoardPro

Visit boardpro.com/boardshorts and use the promo code boardshorts – all one word, lowercase – to get a 30-day free trial AND 20% off the price of your first year on any plan.

If you have a question or a topic that you'd like covered in a future episode, please fill out our short online survey.

I'm taking a slightly different approach in my first #BoardShortsPodcast episode of 2025, covering a variety of topics relevant to Board and Company Directors. This episode offers insights into my own Board goals for 2025, including my focus on becoming a highly effective Board member and my planned learning and development in areas like chairing, cybersecurity, and AI governance. I also share updates on Get on Board Australia programs, such as The SpringBoard Program and Build Your Board Resume, designed to help you get on Board and thrive in the Boardroom. Finally, I discuss the intriguing and perplexing AFR Director Awards. Tune in for this easy-to-digest dose of valuable Boardroom information!

Links Mentioned in this Episode

McKinsey Leadership Capability (for NFP Senior Leaders and Board Members)

Podcast Episodes

I had a stroke. Here's my story | Ep. 36

My Board Story | Ep. 71

Preparing for a Board Meeting [article]

In this final episode of the "Break into the Boardroom" podcast series, I delve into the power of strategic networking to achieve your Board goals. While simply signing up for board vacancy emails and attending governance courses may be a start, true success lies in proactive networking.

Why Strategic Networking Matters:

• Hidden Opportunities: Many Board positions are filled through networks, not public advertisements.
• Building Your Brand: A strong network can amplify your visibility and credibility.
• Leveraging Your Network: Your network can become your most valuable asset in your Board search.

Effective Networking Strategies:

1. Be Clear on Your Board Goal and Board Value Proposition: Clearly articulate your desired Board roles and the value you offer.
2. Build Authentic Relationships: Cultivate genuine connections with people in your network.
3. Leverage Your Existing Network: Tap into your personal and professional relationships.
4. Expand Your Network Strategically: Identify key individuals and organisations that align with your goals.
5. Provide Value: Offer help and support to others in your network.
6. Stay Connected: Maintain regular communication through various channels.

Actionable Tips:

• Reframe Your Approach: Shift from passive waiting to active engagement.
• Ask for Specific Help: Clearly articulate what you need from your network.
• Leverage LinkedIn: Use LinkedIn to connect with potential Board Members and recruiters.
• Attend Industry Events: Network with like-minded professionals.
• Join Professional Organisations: Engage with industry leaders and experts.
• Volunteer: Gain valuable experience and expand your network.

By implementing these strategies, you can significantly increase your chances of securing a Board position. Remember, networking is a continuous process that requires effort and dedication.

Links Mentioned in This Episode

Fast Company Article: The Networking Secret That Only Requires Writing Four Emails A Year

Sign up to the SpringBoard priority waitlist at getonboardaustralia.com.au/springboard

Understanding your unique Board value proposition is a critical step in your Board journey. By clearly defining what you bring to the table, you can effectively position yourself for the right Board opportunities.

What is a Board Value Proposition?

Your Board Value Proposition is a strategic positioning statement that highlights your unique blend of skills, experience, and passion. It's about showcasing your value to potential Boards and differentiating yourself from other candidates.

Key Components of a Strong Board Value Proposition

• Professional Expertise and Accomplishments: Technical skills, industry knowledge, and proven track record.
• Career Experience: Diverse roles, leadership positions, and transferable skills.
• Network and Connections: Strong relationships within your industry and beyond.
• Board Experience: Previous Board roles, contributions, and experiences.
• Personal and Lived Experience: Unique perspectives and experiences that can benefit the organisation and Board.
• Wealth and Financial Acumen: Financial resources and access to these (yours or others).
• Passions and Interests: Alignment with the organisation's mission and values.

Identifying Your Unique Value Proposition

To uncover your unique value proposition, ask yourself:

• What are my core strengths and skills?
• What unique perspectives can I bring to the boardroom?
• What industries or sectors am I passionate about?
• What kind of board would be a good fit for my experience and goals?

Leveraging Your Board Value Proposition

Once you've identified your unique Board value proposition, you can use it to:

• Craft a compelling Board resume: Highlight your key qualifications and achievements.
• Build a strong personal brand: Develop a strong online and in person presence and share your expertise through thought leadership.
• Network effectively: Connect with potential Board members and other influencers and connectors.
• Prepare for Board interviews: Articulate your value proposition clearly.

By understanding and effectively communicating your Board Value Proposition, you can increase your chances of securing a coveted Board seat and making a meaningful impact.

References to textbook quotes in episode: Lovelock, Patterson, and Wirtz (2011) Services Marketing: An Asia-Pacific and Australian Perspective (5th ed.). Pearson Australia. Pages 79-80.

Links to Resources Mentioned in this Episode

The Ingredients for your Board UVP | Ep. 98

Sign up to the SpringBoard priority waitlist below.

https://getonboardaustralia.com.au/academy/springboard/

This is the first in a special series of podcasts to help you achieve the goal of getting onto a Board. If one of your goals for 2025 is to get on a Board, this three-part series will give you the information you need to get a head start on your Board goals.

In this episode, we're diving deep into the crucial first step of your board journey: setting a clear board goal. This will serve as your North Star, guiding your efforts and ensuring you're focused on the right opportunities.

We'll explore two effective strategies for setting your board goal:

1. The Sweet Spot: This approach involves identifying the intersection of your expertise, interests, and opportunities. By aligning these three elements, you can pinpoint the ideal board role for you.
2. The Organisation-Centric Approach: If you're unsure about your specific preferences, this approach focuses on the type of organisation and its stage of development. By considering factors like size, industry, and phase of growth, you can identify suitable board opportunities.

Before setting your board goal, it's essential to understand your "adjacent possible." This refers to the range of potential Boards that are directly accessible from your current position. By analysing a range of factors, you can identify logical next steps in your Board career.

By setting a clear Board goal, you'll be able to tailor your Board search strategy, ultimately increasing your chances of securing a Board position.

Useful Links or Mentioned Links

List links to additional resources or links to things mentioned in the show.

Board UVP Ingredients | Ep. 98

Sign up to the SpringBoard priority waitlist at getonboardaustralia.com.au/springboard

In this episode, we're tackling a crucial topic: diversity in boardrooms. But I wanted to take a slightly different angle with this conversation. Yes, I wanted to explore how to create more inclusive boards, but I also wanted to empower diverse individuals to take their seat at the Board table. It takes action from both sides to build and leverage a diverse Board.

Joining me today is the incredibly knowledgeable and passionate Christal Cherry. With her wealth of experience in the nonprofit sector, Christal is a true expert in board development and diversity, equity, and inclusion.

In this episode, we'll delve into these key questions:

• What exactly is a diverse candidate, and how can boards prepare themselves to welcome and support them?
• How can diverse individuals position themselves to become board-ready and navigate the unique challenges they may face?
• And what can we do as individuals and collectively to foster a more inclusive board culture?

About Christal Cherry

Christal M. Cherry is a nationally acclaimed nonprofit board consultant and certified leadership coach. With over 25 years of experience in the nonprofit sector, she has supported higher education institutions, human services organizations, and faith-based missions. Her extensive career as a full-time consultant includes working with the Boys and Girls Club USA, Habitat for Humanity, DeKalb, the Ahmaud Arbery Foundation, the Junior League, YWCA USA, Emory University, United Negro College Fund, Spelman College, Scholarship America, Nicholas House, Florida A&M University, and the Georgia Center for Nonprofits.

With passion and extensive experience, Christal assists clients in establishing a clear path to success in board development. Her style is electrifying, inspiring, and energizing.

Christal holds a MA in Counseling from Hampton University, a BA in Liberal Arts from Hofstra University, and professional development certifications in nonprofit leadership, social media fundraising, and nonprofit management. She is also certified as a Quadrant 3 Leadership Coach.

She currently serves on the board of directors for Atlanta-based nonprofits, the Villages of Carver YMCA, Fabulous Female Fundraisers, Nicholas House, and Lift to Enrich Inc. She is a sought-after guest presenter on topics such as equitable board governance, recruitment, and diversity, equity, inclusion, and belonging. Christal has been featured on multiple podcasts and serves as an expert on board matters.

Connect with Christal on LinkedIn

Visit Christal's website – The Board Pro

In this episode, we dive deep into the world of AI governance. It's no longer just a tool for generating creative content; AI is becoming an integral part of businesses across industries. But with great power comes great responsibility, especially when it comes to ethical and legal considerations.

Join me as I chat with two experts, Sonja Read and Sam Burrett from MinterEllison, to unravel the complexities of AI governance. We explore:

• Defining AI: What exactly is AI, and how does it differ from traditional technology?
• Legal Landscape: How does Australian law intersect with AI, particularly in terms of privacy and data protection?
• Governance Frameworks: What steps can boards take to establish effective AI governance frameworks?
• Risk Management: How can organisations identify and mitigate AI-related risks?

Whether you're a seasoned board member or just starting to explore the world of AI, this episode will provide you with valuable insights and practical advice. So, let's embark on this journey together and demystify the world of AI governance.

100th Episode Celebration

To take advantage of the 100th Board Shorts Podcast episode gift of $100 off Boardroom Bootcamp and Break into the Boardroom courses until 26 November 2024, visit getonboardaustralia.com.au/academy/ (or use the direct links above) and use the code boardshorts100 at checkout.

Mentioned and Useful Links

[OAIC Guide] Guidance on privacy and the use of commercially available AI products

[OAIC Guide] Guidance on privacy and developing and training generative AI models

Responsible use of AI: New Australian guardrails released

OAIC clarifies artificial intelligence (AI) privacy obligations

ASIC Report on AI Governance and Innovation in Financial Services

REP 798 Beware the gap: Governance arrangements in the face of AI innovation | ASIC

Director's Guide to AI Governance

Australian National Artificial Intelligence Centre

Voluntary AI Safety Standards

10 Guardrails for AI Safety

NIST AI Risk Management Framework

The EU Artificial Intelligence Act

Connect with Sam on LinkedIn

Connect with Sonja on LinkedIn

Subscribe to MinterEllison's Governance News

MinterEllison

In an era of rapid technological advancements, shifting regulatory landscapes, and evolving stakeholder expectations, traditional governance models may no longer suffice. It's time to rethink our approach and ensure that our governance practices are aligned with our organisation's unique needs and strategic goals.

My guest today is Dr Dean Blomson. Dean is a highly experienced strategy and transformation advisor, having previously served as a consulting partner with several global consulting firms. He has a strong interest in improving decision quality (and the probabilities of success), having been involved in leadership and governance over major capital commitments (M&A, capital projects, transformations), program disciplines and delivery.

Dean has a PhD in board governance of mergers and acquisitions, operates his own independent strategic advisory business, is a board director, and a part-time professor and regular teacher of executive MBAs.

Our conversation in this episode centres around the findings of a collaborative, thought-provoking research project in 2021 that Dean led and co-authored with EY's Global Centre for Board Matters into Board Governance Models of the Future.

Specifically, we'll delve into the following questions:

• What is fit-for-purpose governance? How does it differ from the often adopted "governance by default"?
• What factors make governance "fit for purpose" or not? What are the key attributes of effective governance?
• How can we identify the signs that our governance practices are outdated or ineffective? What are the warning signals that should prompt us to take action?
• How can boards and organisations evolve their governance practices to be more fit for purpose? What are the best practices and strategies to adopt?
• What are the common pitfalls to avoid when modernizing governance? How can we navigate the challenges and ensure a successful transition?

By the end of this episode, you'll have a clear understanding of fit-for-purpose governance and be equipped to assess your Board's current practices. Join us as we explore how to build a strong foundation for long-term success.

Links Mentioned and Useful Resources

Connect with Dean on LinkedIn

EY's Global Centre for Board Matters into Board Governance Models of the Future

Thinking outside the governance box to the board of the future: Exploring "fit-for-future-purpose" governance operating models (Corporate Board: Role, Duties & Composition, Volume 17, Issue 2, 2021, Virtus Press)

Risk Governance & Control: Financial Markets & Institutions / Volume 13, Issue 3, 2023, Virtus Press

For an overview of Dean's fit-for-purpose governance model, I recommend watching the following webinars and downloading the slide resources.

Does governance need a reboot? Governance 4.0?

How to determine if your governance is fit for purpose

How to think differently about whole of business governance

Thanks to our sponsor BoardPro

Visit boardpro.com/boardshorts and use the promo code boardshorts – all one word, lowercase – to get a 30-day free trial AND 20% off the price of your first year on any plan.