Recently, an entrepreneur asked me to define the characteristics of a good board. Great boards need members with a vast network within the industry as well as a thorough understanding of the particular issue or challenge and strong connections within the finance community. While these qualities are important, the following traits frequently overlooked in the search for the ideal board members – a dedication to the cause, an ability to listen and communicate with humility, and a willingness to go the extra mile are also crucial to ensure that the board is operating at its best.
A great board of nonprofits is committed to its mission and demonstrates that passion through their actions. If that’s through taking part in fundraising walks, volunteering at events, or attempting to contact city legislators The board member is dedicated to supporting the people they serve. This is a skill that cannot be taught and can make or break an organization.
It is essential to possess good judgment when serving on the board. This is especially important for governance in nonprofits. A board that has a bad track record (whether it’s with hiring and firing, or M&A transactions) does the organization a disservice. Good judgment requires a lot of wisdom, and it is usually based on lots of tough decisions, a few blunders, and a lot of shrewdness.
The final thing I consider a prerequisite for a good board member is an understanding of the importance of cooperation. No matter if it’s at an annual board meeting, dinner for fundraisers, or in any other setting, the best members understand that their success as board members depends on cooperation and take the time to form alliances with their fellow board members.