Successful board members are dedicated to the mission of the company and its clients as well as its shareholders. Attendance in meetings is a must and they are actively involved in discussions. They are knowledgeable of the operations, business model and policies. They keep up-to-date with the latest developments in their field and industry trends to ensure they can make informed and effective contributions.
They are confident and manage their egos within a team. They are aware of how their actions can impact other board members as well as the executive team. They can help prevent conflicts and tensions in the team that can result in a lack of productive work, or even the total boycott of board meetings. They can pose powerful questions that will get at the root of the issue and stop groupthink.
The most successful board members are experts in their areas and are able to offer new and relevant insights with the rest of the board. They can serve as an advisor to executives and serve as a sounding board when it comes to sensitive issues. They also excel at establishing relationships outside the boardroom and introducing to other members through new connections.
They are aware of the high standard of governance required for their role and strive to fulfill their legal obligations. They are aware of issues related to management, finances or personnel issues and take action to address problems before they get worse. They also know their responsibilities as an advisor to the CEO. They help them achieve their goals and maximize their opportunities.