David Seall Blog

Quite a few people have approached me over the years to seek out my advice about how to create a successful portfolio career. I wouldn’t say that I am the best example of how to do it but I have enjoyed working with a mixed portfolio over the last 15 years or so.

Originally I set out to have a mixture of NED and advisory roles for paid work and policy and charity/not for profit roles on a pro-bono/expenses only basis. 

I would add that most of my work has been within private companies or not-for-profits so that may have influenced my outlook. Additionally I have also worked in advisory roles to professional services firms which is very different to NED work.

The majority of people that have sought advice are still in an executive position and wish to explore their options. Others have faced the axe of a corporate restructuring and feel that the chances of gaining another executive role that matches the package that they have lost is very slim. Some have retired and don’t want to stop working. Some people have the right skills, experience and network and glide into NED roles. For others it’s more of a challenge. Additionally some are more of a cultural fit than others.

Whatever the circumstances that you are in here are my top twenty tips, I hope that they are useful.

• Unless you are either well funded or in a supportive relationship and your partner is in full time employment, you will never have the job security of a full time job. If this concerns you then don’t give up searching for the full time role. Even when you become a NED, it’s always worth remembering that these roles will never be a permanent.

• Start the process of working in a NED/Trustee position as early as you can. Charities and Not for Profits need good people on their Boards. It’s unremunerated but you will learn a lot about the NED perspective, work with some great people outside of your working environment and feel that you have made a difference. Your employer should also be happy to support you doing this. I would advise working with a charity which has a cause with which you identify with otherwise it could become a chore. I spent 15 years doing this before I went plural and continue to do so. Getting a place on an Advisory Board is also a good way to feed in to more committed NED work. Also consider giving some mentoring to people outside of your business. As part of this process you will start to wean yourself from the executive to non-executive mode of working and gain that essential perspective.

• Go get some training– there are very good NED courses out there, I have completed several. They will give you a sound appreciation of what to do and how to manage situations. The IoD NED course is a good one. The Big Four accountancy firms’ NED networks also have a treasure trove of supporting information and content.

• Set up your own company to facilitate your work. Most private companies will be hesitant about adding new people to the payroll, particularly if they haven’t appointed NEDs before. I went full ltd company and VAT registered but some will just wish to be a sole trader. Get accountancy support if you need it.

• To find positions, maximise your network Make the most of professional networks you are involved in, it could be a trade body, membership organisation or a professional body. Make sure that you are actively engaged and working with people.

• Attend events, get out and about and do stuff, go the extra mile and attend events. I tend to go to things that will inform and educate me- I like to leave the event having learned something (this adds value to your NED capabilities too) I prefer these sort of events to purely networking ones, as you are with people who can sit down and listen to something for an hour! (I’ll write a blog about this soon). If you are invited to an event, then turn up and attend- no shows and late cancellations cause all sorts of pain to the person who has gone out of their way to invite you.

• Use social media to full effect I tend to use LinkedIn for a whole variety of things
  • It’s my CV for everyone to see and browse
  • It’s a mobile contacts book which never goes out of date
  • I can learn about what’s going on
  • I can post things of interest to folks (I like my posts to be either interesting or informative)
  • My network knows about current things I am doing or involved with and that I’m active
  • I can comment on and share interesting posts
  • I can help people and repost job vacancies that I think people in my network might be interested in. It supports them and the person in my network with a vacancy- it’s a no brainer
  • I only connect with people who I have met face to face or have some sort of work related or correspondence with (each to their own and I know others accept all invitations. My personal view is I don’t want my connections to be spammed by those spamming sales stuff or just gathering connections for databases)

• Job applications – lots of jobs out there! My only tip would always make sure that you are a good fit for the role and tune your CV- good luck!

• NED introduction agencies, I have been approached by several of these organisations and networks but have never used them. If you feel that you need that sort of help and can fund it, it may be worth a go. I would advise treading carefully as they usually can’t guarantee outcomes.

• Headhunters, Most headhunters are very helpful with advice on applications and evaluating your CV, share updates with them.

• Referrals Most, if not all of my roles, have come from referrals. If your colleagues and network feel comfortable with you and confident that you won’t let them down, then to me that’s the greatest compliment I can get. If you can give referrals for others in your network that will help them and you, again a no brainer! Also giving out  LinkedIn recommendations is a great way of supporting your network.

• Beware the ghosters! It seems to be a British disease that some folks can’t tell people that they aren’t wanted. After several meetings/interviews suddenly everything goes quiet and no replies to calls are forthcoming. If you get into this situation, it’s best to cut your losses, mark it down to experience and move on. Don’t fill up your pipeline with stuff that isn’t going to happen.

• Get some mentors– talk to people you know, respect and trust. They will understand you and what you are trying to achieve and will give you their unfettered opinions and advice. Getting a b********g for using a typeface on my CV that was impossible to read and some choice words for even considering a Chair role at an AIM listed business that was probably a basket case, are just two examples which spring to mind. My ears are still ringing but the advice was invaluable.

• Once you have found a position do your due diligence on the company– I am amazed at the pickle some folks get themselves after finding out what’s really going on in the business, if in doubt have a chat with your mentors about it for their opinions. Look for a things like a constant stream of Directors being appointed and then leaving and also strange things within the finances. Pretty obvious but many forget to do this. Make sure that the company can afford you. You don’t want to be in a position of chasing debts.

• Listen to what the prospective company wants. Some just want mentoring and advice so don’t get hung up about  being on the Board. Just make sure that the role is purely advisory and would not be construed as being a Shadow Director. Also remember that you are not executive!

• Get yourself a standard contract and work out day rates to get things going. I usually work for a monthly fee based around a certain number of days. It helps me to budget and means the company paying you doesn’t have any unpleasant spikes to cope with. If after a few months you are doing more or less time it can be adjusted. Run the contract past a litigation, sorry, ‘dispute resolution’, lawyer if you know one.

• Governance- always refer back to your training when in a NED position. Constantly be on the lookout for things like conflicts of interest, not minuting meetings, poor risk management and anything that is simply not right. In the end as a NED your only real sanction is to resign but you must always do the right thing.

• Educate yourself and keep up to date– companies expect their NEDs to be fully up to speed on all sorts of things, particularly geopolitics at the moment. Make sure that you are well read and also know individuals who can help out by sharing their knowledge too. There are lots of online webinars around which can help. Judging business awards is another way of learning through reading about other business leaders’ journeys.

• Serendipity If you do all or some of the above you are significantly improving your chances of having a successful portfolio career. Serendipity always plays its part, making connections and then things happening from those connections. One thing for sure, if you do nothing then nothing will happen!

• The most important point- Always Pay Back and Forward! if someone has gone out of their way to help you and given up time and effort then see what you can do for them. Also, if you can, try and help those that maybe are too shy or timid to reach out. Everybody needs a helping hand at some point in their life.

If you have found this helpful or if you think it’s tripe, then please comment below or better still comment on the originating post on LinkedIn.

If you are feeling very generous please repost my LinkedIn post to your network and see what they think about it. It will remind your network that you are looking for NED roles too.