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One of the most sought-after career goals for executives is joining a board of directors鈥攊deally one publicly traded on the or .

While that鈥檚 a worthy goal, it鈥檚 a long shot to join the board of a publicly traded company.

Based on data from CFO.com and the U.S. , the odds of getting on the board of a publicly traded company if you are a business executive in any given year is 1 out of 630 (if you鈥檙e a CEO, it鈥檚 dramatically better: 1 out of 10).

For perspective, the odds of a high school athlete getting drafted into the is 1 in 554, according to .

If you are determined to join a board of directors (keeping in mind there are also plenty of privately held company board positions), what actions can you take now to improve your chances of being selected?

Having served on several boards and based on conversations with various board members, I鈥檇 offer three considerations:

1) Ask not what a board position can do for you, ask what you can do for a board.

The key to any successful board is having the right combination of collaboration, diversity and commitment among directors.

What unique talents, skills and perspective do you bring to a board? What are you doing now that will contribute to your ability to add such value to a future board?

2) It鈥檚 not what you know, it鈥檚 whom you know.

At publicly held companies, board members nominate board candidates, who are then voted on by shareholders. Thus, the more board members you know, the greater the odds of getting an opportunity to be nominated.

Worth noting is that the playing field to be nominated is tilted. There is a tendency for board members to invite fellow board members to join other boards they鈥檙e already on. I鈥檝e known executives who are directors on seven boards.

Networking on a consistent basis through associations and organizations is essential and should be a part of your long-term plan to know the key movers and shakers in your chosen category.

It鈥檚 also worthwhile to identify board recruiters in your industry since they are a prime source of board candidates, especially if a company is looking for directors with specific qualifications.

3) Actively work on enhancing your 鈥減ersonal brand鈥� and promote it in the marketplace.

You can be the most qualified board candidate in the world, but that鈥檚 not going to help you if you are an unknown. Study the backgrounds of board directors at various companies you鈥檙e interested in. What insights can you gain in learning how they got there? What lessons can you apply to your own career? How are you continually letting the world know about your own 鈥減ersonal brand鈥� (via posts, speeches, presentations, books, commentary, etc.)?

What are the rewards of getting on a board?聽 The financial compensation varies dramatically (the average annual pay is $88,840 ). The greater reward is the satisfaction a board member gets from helping a management team identify and overcome the many challenges facing businesses today.

Wrapping it up

Getting on a board is hard work, but for the right (and determined) candidate, it can be well worth the effort. Each board director ends up following their own unique path in getting on a board.听For most of us, creating your personal unique brand and promoting it in the right business network is your best shot at beating the odds and being invited to join the board of your dreams.

is operating partner at . He is a board member with (a leading consumer and marketing intelligence company). In addition, he鈥檚 the founder of , working with professionals who aspire to be marketing leaders. Over the past 40 years, he has worked in over 60 countries around the world for , and International, and as CMO of .听

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