Tag Archives: industry focus

The box conundrum

coffees4This past week I met with the chairman of a number of listed and unlisted boards and who has over 20 years of board experience. Introduced by a friend of mine who happens to be an executive member of one of those boards, he was aware that I was finding the process of building a portfolio of non-executive directorships harder than expected. This chairman is a willing mentor of women (and men) and has been a mentor in the AICD Chairmen’s Mentoring Program three times.

He told me that most of the people he meets with have been in a role or an industry for many years and have deep experience. Often they have been lawyers or consultants. They fit squarely in a particular box and in order to be attractive for board roles, they need to widen their experience and skill set. However, in my case, the chairman noted, I have had a broad range of experiences that have utilised a broad range of skills and I don’t seem to have a particular box to fit in! The problem with this, the chairman went on to say, is that people don’t know what I am good at. Generalists are not sought out anymore, people with particular skills or industry knowledge are.

Without trying to sound too frustrated, I pointed out to the chairman that rather than having stayed in one role for 25 years, I had chosen to try a few different roles and enhance a range of skills. However, I did feel there was a consistency across all my roles that focused on “top line revenue generation”. In other words, helping a business grow. Not unlike another senior board director I had spoken with, he noted that this was quite an executive trait. “You could be fielding calls from head-hunters for CEO roles,” he said. “I am” I replied. But surely a board needs people who understand the skills required for a business to grow and can ask and challenge the executives? That theory applies after all to industry knowledge, to financial management, to risk, and so on. After all, the 2014 AICD Conference later this month is all about growth.

I have to confess that following the meeting my mood was quite sombre for a while. Too much a generalist, not enough experience in big companies, no specific industry experience… It’s going to keep on being tough. Then I refocused and decided one meeting doesn’t determine my direction or my outcomes. It’s has to be about taking in the information and assimilating it with all the other information and advice. I could assure the chairman that I had spoken to most of the head-hunters in town, I had tried the government approach (admittedly with little successful penetration to date) and I was doing the networking. I am sitting on boards now and I know I am being effective. I also intuitively believe that working in a small or medium size business means one learns a lot more about business than working in one or two areas of a larger business (although I did work for an organisation that had 90,000 employees…).

The chairman did say that so often it is about serendipity and the planets being in alignment. I can’t help but think that the 1000 coffees along the way may assist the circumstances that eventuate in the “fortuitous happenstance”.

 

Coffee count: 253 coffees

Postscript: Following my last post, it may not surprise anyone that there hasn’t been a rash of offers from head-hunters or recruiters signing up to follow this blog. But I did have a call regarding a CEO role…..

Industry focus vs agnosticism

coffees5Right from the start, one of the questions I am always asked is “what industry are you focused on?” For many, the answer is obvious – years spent in banking would lead one to focus on the financial services industry; with deep experience in FMCG one would focus on retailing or manufacturing, as appropriate, etc.  With a “lattice career” and broad experience across strategy, marketing, general management and business establishment in different industries, the answer has been less obvious for me.

However, it has always struck me as a catch-22 question. If one focuses on one industry and then attains a non-executive directorship for a company in that industry, one is then generally conflicted from seeking a role in another company in the same industry.  Equally, it labels how people think of you.  So I have been pleading agnosticism and saying that few industries are “rocket science” and my skills should be applicable across any number of industries.  Usual response: nods of acknowledgement.

Two coffee meetings in the past week have led me to rethink this proposition….. At the first, with a mentor and experienced NED, the nod of acknowledgement was accompanied with a shake of the head. The problem with my answer, I am told, is that it doesn’t help people to place me in their own minds into a category. And for a first role especially, it needs to be easier for people to do that.  I was advised to focus on what my key skills are and consider to what kinds of businesses those skills would be most applicable or useful. It narrows the range of industries or companies by being more specific, without being so specific that one might be excluded from being thought of as a specialist in one industry only.  Articulated this way, I realised one can describe kinds of businesses rather than be very general.

The same question came up the following day and I applied the advice of the previous day. This time, the person (who was a colleague in the past) provided insight into how thinking about kinds of businesses and focusing on changes in the market, could lead one to think about one industry in order to access many others. For instance, the advent of the NBN will affect not just the obvious telecommunications businesses, but also others such as e-health, music, retailing and so on. This thinking allows one to talk to people in one industry about the implications on other industries – being industry focused without being industry limiting.

Two very enlightening coffees…..

PS:  Shortly to have second round interview for first board role. It’s unpaid and it’s local, but it could be the first one!

Coffee count: 152