Normally at this point I pause (generally for cinematic effect) and then ask, “Why in heaven’s name would you want that?”

It appears to be a complicated answer generally wrapped up in the validation of  ego, pay and a feeling that it’s the pinnacle of achievement. Many people feel that being a company director marks them out as being a senior person, often placing them ahead of others who may have MBA’s and maybe even bigger salaries.

But remember, if you are a statutory director then you are legally liable and that’s not a small thing, in fact it’s a really big thing. Not interested in Health & Safety? Well you better get interested! Working in the financial services industry in an FSA (Financial Services Authority) regulated business then you are really going to love becoming an FSA approved person (Oh yes! You’ll love that). You see once you are a statutory director you can’t plead ignorance when they coming knocking reference: corporate manslaughter, insolvency etc… “Didn’t know what was going on”, won’t cut the mustard, not in this day and age.

• Why do you want to be on the board?
• Are you prepared to think about the business as a whole, rather than in your area of vertical expertise?
• Have you developed the competence and capability to function in the boardroom?
• If you are a statutory director are you truly operating as a statutory director or just a very senior manager?

Counter this with the knowledge that ‘you can be the MD of a fish and chip shop if you want”. One of my most memorable moments happened on a workshop I attended with the Institute of Management Studies. I was sat between two senior managers, enquiring about each others roles, the one saying he was a Regional Manager, the other an Area Manager.

The Regional Manager thought she’d won the exchange as in her world a regional role is a larger role than an area role, after a few minutes of chat you could suddenly see that something was wrong:

• Regional Manager with a little smile of self congratulation: “Yes I look after the South, so as you can imagine it’s quite a big role!”
• Area Manager with complete transparency: “Gosh yes, sounds a big job”
• Regional Manager: “So what about your area?”
• Area Manager (slight hesitation, just before the landing of the Top Trump): “Asia and Europe”
• Regional Manager (Modelling a goldfish look): “Oh”

The position you hold is not a validation of who you are or what you have achieved, it’s always relative and very often is only as impressive as the size of the pool you are swimming in.

Yes indeed, be careful what you wish for!

Top Read: The Fish Rots From the Head: The Crisis in Our Boardrooms – Developing the Crucial Skills of the Competent Director - Bob Garratt