Imagine that it’s November 2024. You are sitting in your first board meeting as an independent director in one of the top 100 companies listed on the BSE.
The media has written about your appointment. They will write about the outcomes of today’s meetings as well. In fact, the press regularly covers you.
You are a corporate leader today, well connected with CEOs, managing directors, the country’s largest private equity funds, bankers, and even some ministers. You have received many awards and are associated with some leading universities and industry associations.
Being an independent director has exponentially expanded your network.
But things were not always like this. You went to a government school and a regular college, from where you received your degree. After that, you started at an entry level job and worked your way up to middle management. Here, you found yourself slowly stagnating, and were looking for a way out.
In November 2022, exactly two years to the day, you found out that becoming an independent director can enable you to get to the top echelons of the corporate sector.
You got to work and started building your personal brand.
You approached IITs and IIMs in small cities and became a mentor to a few startups run by students studying there. You did this work pro bono. This not only helped give credibility to your profile, but you also got opportunities to network with other top executives who took guest lectures at the campus.
You cracked the IICA exam. You learned some practical skills around real-life work done by independent directors through virtual scenarios. In fact, you realised that corporate governance is very different in a real-life business setting than what the lawyers, accountants and the company secretaries say.
Your first appointment as an independent director was an eye-opener in this regard. A fast-growing startup had appointed you to their board before their IPO.
They had done this on the recommendation of their investors, who knew you because you had acted as an advisor to several other startups (including startups run by IIT and IIM students) that they had invested in, and you had also provided useful inputs to them on governance.
The startup founder looked up your profile, and found only positive recommendations, videos, articles, which he personally benefitted from, so he was very supportive of the investor’s decision.
Since then, your life has only looked up. You were appointed as an independent director at several other startups which opted for IPOs. Then a promoter from a BSE 500 company appointed you as an independent director.
You had prepared yourself to play an independent director’s role even before being appointed, so you were able to contribute from Day 1.
CEOs and other directors have always valued your contribution.
The fees you charge have increased over the past few years. While you started with charging INR 50,000 per meeting, you charge almost four times as much now. You are also on the board of four other companies today.
All this has happened because you were committed that you do not want to live a life of mediocrity. Once you saw the path, you charted a course for it. This has had a positive effect on your career as well.
Through your network, you have received introductions to larger companies. Last year, you cracked the interview for a senior management position in a company which is 5 times larger than your previous employer.
Your family is proud of all these developments. They see your name in the papers and on TV interviews quite frequently. The increased earnings have led to major improvements in the quality of life that you lead and the kind of support you provide to your family.
What is your next goal?
Is it getting on the board of one of the top listed companies in India? Is it becoming chairman of such a board?
Or is it becoming one of the highest paid independent directors?
Whatever it is, you are enjoying this journey and it is very fulfilling.
It’s exciting to imagine, isn’t it? Well, this could became a reality for you; LawSikho can help you make it happen.
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