Crafting Your Inner Circle: Building a Personal Board for Leadership Excellence

Essay by Bhanu Potta

This essay comes from Network Capital patron and product management course director, Bhanu Potta. You can learn more about him here and watch the product management bundle here. You can access these resources by subscribing to Network Capital.

Imagine having your own personal board of advisors—trusted individuals, mentors, and sponsors who hold steady the career ladder you climb, provide insights, challenge your thinking, and guide you through the twists and turns of your career. Like companies have boards to guide their strategic direction, individuals can benefit from a personal board of advisors to help navigate their leadership journey. 

“Surround yourself with only people who are going to lift you higher.” – Oprah Winfrey

Let’s dive into how you can build and nurture this invaluable support system across various career stages.

Early Career: Finding the Right Mix of Voices

In the early stages of your career, it’s crucial to seek out a diverse set of voices. Your personal board of advisors at this stage should include mentors who can help you understand the industry, provide feedback on your skills, and offer guidance on potential career paths. Think of this as your “starter board”—a mix of experienced professionals, peers who share your ambitions, and perhaps even a career coach.

Building this board involves identifying individuals who are willing to invest in your growth. Be proactive in seeking out relationships with people who can provide honest feedback, share their own experiences, and open your eyes to opportunities you might not have considered. Remember, the goal is not to have a large board but a small, trusted circle that offers diverse perspectives.

Mid-Career: Strategic Expansion and Deepening Relationships

As you move into the mid-career phase, your needs evolve. You’re no longer just learning the ropes; you’re looking to expand your influence and move up the ladder. At this point, your personal board should include individuals who can offer strategic advice and help you navigate the complexities of leadership roles.

This is the time to deepen relationships with mentors who can offer long-term guidance and to seek out sponsors who can advocate for you in higher circles. Consider adding someone who has been through similar transitions, such as a senior leader who has successfully made the jump you’re aiming for. This board should help you refine your career strategy, navigate organizational dynamics, and identify the right opportunities for advancement.

“Advice is like snow; the softer it falls, the longer it dwells upon, and the deeper it sinks into the mind.” – Samuel Taylor Coleridge

Senior Leadership: Building a Network of Allies and Challengers

At the senior leadership level, the composition of your personal board becomes even more critical. Here, you want a balance of allies who understand your vision and challengers who push you to think differently. Your board should include peers from different industries, seasoned executives, and thought leaders who can provide a broader perspective.

Your focus should be on refining your leadership style, driving organizational change, and thinking about legacy. Advisors at this level can help you identify blind spots, provide guidance on navigating complex organizational politics, and challenge you to step out of your comfort zone. They can also help you stay grounded and authentic, reminding you of your core values amidst the high stakes of senior leadership. 

CXO Levels: Curating a High-Impact Advisory Circle

When you reach the CXO level, your personal board of advisors should be a carefully curated group of high-impact individuals. These are people who understand the unique challenges of top-level leadership and can provide counsel on issues like board dynamics, mergers and acquisitions, and leading through crises.

Your advisory circle might include former CEOs, industry veterans, or even board members from other companies. The key here is to have advisors who can provide both strategic insights and a sounding board for the complex decisions you face. They help ensure that you continue to grow, adapt, and make informed choices that impact not just your career but the future of the organization you lead. They also help you maintain visibility and grow your influence in the wider industry.

What does this look like for Entrepreneurs?

For entrepreneurs, a personal board of advisors is often the difference between a thriving business and one that struggles. Entrepreneurs need advisors who can provide guidance on everything from product development to scaling operations and entering new markets. Your board might include other successful entrepreneurs, investors, industry experts, and even potential customers.

Advisors for entrepreneurs are invaluable in providing credibility, opening doors, and offering practical advice. They can help you avoid common pitfalls, navigate the startup ecosystem, and accelerate your growth trajectory.

More on this in a future article....

The Lifelong Value of a Personal Board of Advisors

Building and nurturing a personal board of advisors is not a one-time task but an ongoing process that evolves as you progress through your career. The right advisors provide a blend of mentorship, sponsorship, and strategic insight that can propel you to new heights.

As you advance, be intentional about who you include on your board. Seek diversity in experience, thought, and perspective. And remember, your board is there to support you—but also to challenge you to be the best leader you can be.

“Great things in business are never done by one person. They’re done by a team of people.” – Steve Jobs

Whether you’re just starting out or are a seasoned executive, a personal board of advisors is your secret sauce to navigating the complex and rewarding journey of leadership.