The experience gained through non-profit board service can provide valuable skills transferable to a for-profit board role.
One of the questions we frequently get asked at theBoardlist is whether or not experience on a non-profit board will help a candidate's chances of securing a for-profit board role. While there are differences between non-profit and for-profit boards in terms of goals, governance, and financial considerations, the experience gained from serving on a non-profit board can provide valuable skills and insights that are transferable to a for-profit board role - but it is only one of the numerous factors aspiring for-profit board candidates should be focused on.
Here is a quick overview of how non-profit board experience can help you on your board journey:
Non-profit boards often follow similar governance structures and practices as for-profit boards. Serving on a non-profit board allows you to gain firsthand experience with board meetings, decision-making processes, strategic planning, and fiduciary responsibilities. These skills are highly relevant to for-profit board positions.
Leadership and Strategic Thinking
Non-profit boards often require board members to actively participate in strategic planning, setting goals, and overseeing the organization's mission and vision. These experiences can develop your leadership and strategic thinking abilities, which are essential for effective board directors in any setting.
Serving on a non-profit board exposes you to a diverse group of individuals who may have connections in both the non-profit and for-profit sectors. Building relationships with fellow board members, staff, donors, and community leaders can expand your professional network, potentially leading to opportunities and referrals for for-profit board positions.
Non-profit board experience demonstrates your dedication to serving the community and making a positive impact. It shows potential for-profit board opportunities that you have a passion for governance and a willingness to contribute your skills and expertise to a board setting.
However, while non-profit board experience can be helpful, it's not the sole determinant of securing a for-profit board director position. Additional factors such as relevant industry experience, business acumen, leadership skills, and a strong professional network will also play a significant role. It's crucial to develop a well-rounded profile that aligns with the needs and expectations of for-profit boards.
Our tBL Plus services are great for aspiring and experienced board directors to get coaching, mindfully expand their network and maximize their exposure to board directors and opportunities.
Read "Am I Ready for a Corporate Board of Directors Role?" to learn more about the roles and responsibilities of the board.