Latest / The Career Mentor Podcast with Fexingo: Finding Mentors, Sponsors, and Career Advisors / How to Build a Personal Board of Directors
Transcript
- Lucas: Luna, I want to start with a number: according to a Harvard Business Review study published in 2024, professionals who have a diverse network of mentors are 30 percent more likely to get a promotion than those who rely on just one. Luna: That makes intuitive sense — one person can't possibly cover every aspect of your career. But shifting from a single mentor to a network requires a mindset change. Lucas: Right. The concept is often called a personal board of directors. Instead of one Yoda figure, you have a panel of advisors, each bringing a different perspective. I want to walk through a concrete example. Luna: Please do. I think listeners need to see how this actually plays out. Lucas: Let's talk about Michele — a marketing director in her mid-thirties. She had a great mentor, a senior VP who helped her navigate corporate politics. But she realized she needed advice on things her mentor couldn't offer: financial strategy, tech trends, even how to connect with younger consumers. Luna: So she built a board. How many people did she choose? Lucas: Five. And she was deliberate about the composition. First, the finance expert — a colleague in her company's FP&A group who could help her understand how marketing decisions affect the balance sheet. Second, a tech founder she met at a conference — someone who could give her a lens on digital disruption. Luna: That's already covering two blind spots. What about the other three? Lucas: Third, a peer from a completely different industry — hospitality, in Michele's case. That person gave her insight into customer experience trends that her own industry was slow to adopt. Fourth, a junior analyst in her own department — she invited a Gen Z employee to her board specifically to understand how the next generation thinks about brands. Luna: I love that. Most people only look up, not down. That junior perspective is often undervalued. Lucas: And the fifth was a retired executive from a non-competing sector — someone with decades of leadership experience but no stake in Michele's day-to-day. She could ask that person truly candid questions without worrying about internal politics. Luna: So the board covered finance, tech, cross-industry insight, generational perspective, and pure wisdom. How did she recruit them without it feeling awkward? Lucas: That's the key question. Michele didn't send a formal invitation saying 'you're on my board.' Instead, she reached out individually with a very specific ask. For the finance expert, she said: 'I'm trying to become more fluent in the financial side of our business. Could I buy you coffee once a quarter and run a few questions by you?' Luna: That's low-pressure. And it defines the scope clearly. Most people are happy to help if the request is specific and time-bound. Lucas: Exactly. She did the same with the tech founder — framed it as, 'I'm trying to understand how AI might reshape marketing in the next three years. Could I pick your brain?' The key is that she was interested in their expertise, not in getting them to do work for her. Luna: And she was willing to give back too, I assume. One of the dangers of a personal board is making it one-directional. Lucas: Absolutely. Michele made a point of offering her own marketing expertise in return — for instance, she helped the tech founder think through his go to market messaging. It was a genuine exchange. Luna: So the relationship is reciprocal. That's important because mentors often drift away if they feel used. Lucas: Right. And she also set a rhythm — quarterly check-ins with each board member, and an annual 'board meeting' where she got everyone together for brunch. That annual gathering became a mini event where her advisors could network with each other, which added value for them too. Luna: That's a clever twist. The board itself becomes a community. But what about people who aren't as naturally outgoing as Michele? How does an introvert build a board? Lucas: Good point. It doesn't have to involve big gatherings. Some people prefer one-on-one virtual check-ins. You can start with just two people — someone who knows your industry and someone who doesn't. The key is intentionality: identify your biggest knowledge gaps and find one person who fills each. Luna: And you don't need to call it a 'board' if that feels too formal. It can just be 'my group of trusted advisors.' The name matters less than the structure. Lucas: Exactly. And here's a practical exercise: take out a sheet of paper and list four areas where you want to grow — maybe it's financial acumen, leadership presence, industry trends, or work-life integration. Then for each area, write down one person you know or could reasonably meet who excels in that domain. Luna: If you can't think of someone for a particular slot, that's a signal. It tells you where to start networking — attend a conference, join a professional group, or reach out to someone on LinkedIn with a compliment about their work. Lucas: Right. And when you reach out, be specific. Say, 'I read your article on X and it really changed how I think about Y — would you be open to a twenty-minute call?' That's far more effective than a vague 'I'd love to pick your brain.' Luna: And if they say no, that's fine. Move on. You're building a board, not a wedding guest list. Lucas: I think the biggest mistake people make is stopping after they find one good mentor. They get comfortable. But the world is changing too fast for a single perspective. Michele got promoted twice in three years after building her board, and she credits that diversity of input. Luna: If today's episode is giving you a framework that actually clicks for your own career, I want to mention something. These episodes stay ad-free because listeners like you choose to support us. If you've found value, you can head to buy me a coffee dot com slash fexingo. Lucas: Yeah, even a small contribution helps keep the conversation going. And we genuinely appreciate it. So back to the board itself — once you've identified your five people, how do you actually keep the relationship warm between check-ins? Luna: That's crucial. A board that only meets quarterly can feel distant. I like the idea of sharing relevant articles or quick wins via email. 'Hey, I used your advice on the budget presentation and it went well — thanks again.' That takes thirty seconds but keeps the connection alive. Lucas: And when you do have a major decision — changing jobs, launching a new product, considering a pivot — you can reach out to the specific board member whose expertise matches the situation. That's when you really see the payoff of having a diverse network. Luna: So the personal board isn't just for career advancement — it's for better decision-making in real time. Lucas: Exactly. And it evolves. As you grow, your gaps change. Michele eventually replaced the peer from hospitality with someone from sustainability when she moved into a role focused on ESG. The board should be a living thing. Luna: That raises the question: how do you gracefully retire a board member? Because relationships do run their course. Lucas: The same way you would exit any mentorship gracefully — be honest and thankful. Say, 'I've learned so much from you, but my focus has shifted. I'd love to stay connected casually, but I don't want to take up your time if the topics no longer align.' Most people understand. Luna: And they might even open the door for a new advisor to join. So the board stays fresh. Lucas: One more thing: don't forget to celebrate your wins with them. When you get that promotion or launch that project, send a note to your board. They'll feel invested in your success, and that reinforces the relationship. Luna: I think that's a great note to end on. The personal board of directors is a proactive, systematic way to gather the advice you actually need, when you need it. Lucas: And it turns mentorship from a passive relationship into an active network that grows with you. So this week, try mapping out your own board — even if it's just on a napkin. You might be surprised by what you discover.