A New Era of Board Service
Following decades as a high-potential startup CEO, I wondered how my career might evolve into a new era. The funny thing is that nearly everyone assumes you will keep doing what you have been doing, but where is the growth in that?
Of course, many startup CEOs (including me) pursue careers as serial startup CEOs, leveraging their experiences into a whole series of startups. However, a few years ago, I noticed that some of my startup CEO contacts decided not to dive back into another startup after one of their prior adventures had concluded. I paid attention to their choices. Some were in a position to retire and pursue the things that gave them joy in life. Some moved from founder-CEO roles into funder-investor roles, joining venture capital firms or investing their wealth into other startups and initiatives. Some evolved into executive director roles or other board service positions.
As always, I was interested in what paths people I respected chose and how I could learn from others’ experiences and choices. This has been a strong pattern for me to develop my skills as a startup founder and leader since there really is not a manual for this career path – nor is there a manual for what the next stages might look like and when to consider entering them.
My perspective on charting a career path has always been rooted in a few fundamental ideas:
Know Thyself
What is right for one person may not be suitable for another because each of us is unique. What motivates and excites me reflects who I am and what values I hold dear – and may not be the same for you. What possibilities are open for me reflect my skills, experiences, and contacts. The types of people I like to work with and the degree and type of risks and challenges that attract me are influenced by my past. These are all unique to me and shape the potential paths that make sense for me to pursue. Furthermore, my faith and relationship with God also play a significant role in guiding my steps forward in my life journey. For me, innovation, impact, and the integrity and brilliance of the people I am working with matter immensely when choosing where to invest my time and energy. I also look for how my strengths would enable me to bend the curve and contribute to achieving success.
My key point here is that each person is special and unique. The only way to figure out what path is right for you is to take time to reflect on yourself and develop your own self-awareness so that you can seek to find your personal best match. You can take advantage of the insights of those who know you well to help inform and expand your self-knowledge, but at the end of the day, what is suitable for someone else is not necessarily right for you. Do not follow the well-trodden path mindlessly. Reflect on what makes you you – and ensure that your chosen path aligns with that.
Be Intentional and Thoughtful in Exploring Options
When taking your next career step, it is critically important not to jump at the first opportunity you spot. Clarify your goals. Consider options. Explore possibilities. What possibilities emerge will reflect your interests, skills, experiences, accomplishments, and contacts. Depending on what kind of opportunity you seek next, you may approach the process of generating options differently. Each choice to pursue or eliminate an option will shape your next steps.
For me, after some extended consideration, I decided that at this juncture, I did not want to pursue new startup CEO roles, either by founding a new startup or joining one already in progress. For me (and likely almost every startup CEO I know!), CEO roles at high-potential startups are incredibly demanding, requiring round-the-clock responsibility and practically endless hours of hard work. I have been pursuing that road for decades across several startups – and now, I found myself more attracted to helping multiple other first-time startup CEOs succeed by bringing my experiences, contacts, and perspectives to bear while allowing others to take on that ultimate leadership role in each case. I participated in a board service development program to expand my knowledge and skills as a potential independent director. Over many months, I surfaced and explored various opportunities. I opted to pass on many as I sought a select few with leaders and colleagues I liked and trusted, companies whose mission and technology excited me, and were a good fit for my background and ability to contribute.
Choose and Commit
Once you generate one or more solid options that can be an excellent next step from a career perspective and a good fit for whatever compensation and geographic location needs you have, you must make a decision. My experience says that, in the startup ecosystem, each commitment can span years, so you must consider the opportunity costs and choose with care so you can fully commit. Then, dive into making those endeavors you undertake all that they can be with energy and integrity!
Ultimately, the past 18 months or so have been a journey of clarification as my husband and I sorted through our top priorities at this stage in our lives and careers. I have found myself excited by the opportunity to build on my long history of board service and high-potential startup building as a CEO in multiple industries. Some opportunities emerged out of the blue as a result of long investments in helping others and building my startup ecosystem network. There have been decisive moments when the choice to say “yes” to one thing meant forclosing other incompatible paths. Yet, I find myself invigorated by the opportunity to focus my energies on a carefully curated set of board service opportunities ranging from public company to private company to nonprofit boards with roles ranging from strategic advisor to independent director to executive chairperson. I am thrilled to get to support at least four first-time CEOs as they endeavor to change the world! This new era in my career is already turning into a fascinating growth journey with incredible people – and I cannot wait to see what we can accomplish together! Plus, what other roles might emerge in this new season? Onward!
My point in this blog is to share transparently about what life after a long journey as a startup CEO can look like – and a bit about how I have thought about it lately in hopes that by sharing, I can help others be thoughtful in their own journeys.
