In this episode of “The Goats of Growth,” I sit down with Breen Sullivan, founder of The Fourth Effect. We discuss her company’s mission to match board-ready women with companies seeking new board members.
Our conversation took us through the intricacies of advisory versus governing boards, exploring the significance of directors and officers insurance, and dissecting the strategic roles governing boards play in the corporate landscape. A great discussion that shed light on boardroom dynamics.
The Fourth Effect’s Website–Unstoppable Campaign
Background and Founding of The Fourth Effect ([00:01:26]) Breens background and the founding of The Fourth Effect to empower women in board appointments.
Breaking into the Board Candidate Pipeline ([00:03:41]) Advice on entering the board candidate pipeline and positioning oneself for board roles.
Difference Between Advisory and Governing Boards ([00:08:31]) Explanation of the distinctions between advisory and governing boards, including contractual relationships and fiduciary obligations.
Stratifying Roles within the Governing Board ([00:17:34]) Discussion on selecting individuals for the governing board and their roles, emphasizing strategic high-level involvement.
Compensation and Independence in Fiduciary Boards ([00:18:43]) Insight into the compensation, independence, and trust aspects of fiduciary boards, emphasizing the importance of high trust and independence.
The difference between advisory and governing board ([00:22:08]) Discussion on the difference between advisory and governing boards, including liability and insurance.
Function of the governing board ([00:25:31]) Exploration of the role and expectations of governing board members in advising and impacting the company.
Types of directors ([00:30:34]) Explanation of the differences between independent directors, executive directors, and non-executive directors.
Word of mouth growth and backroom investment club ([00:32:28]) How the platform grows through word of mouth and the role of the backroom investment club in connecting companies and board candidates.
The importance of diversity and the link between boardrooms and cap tables ([00:35:50]) Discussion on the significance of diversity in boardrooms and the connection between board service and equity investment.
Rapid fire five and bonus question ([00:38:54]) A series of quick questions and answers, along with a bonus question about a personal fact not found on LinkedIn.
Reaching out to The Fourth Effect ([43:43]) Breen shares how to contact The Fourth Effect and invites listeners to visit their website.
Corporate Partnerships and Professional Development ([46:06]) Breen discusses opportunities for corporations to support women’s memberships and professional development at The Fourth Effect.