"Building Your Personal Board of Directors: Lessons from IKEA, Yakiniku Restaurants, and the Kumon Method"

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Aug 14, 2023

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"Building Your Personal Board of Directors: Lessons from IKEA, Yakiniku Restaurants, and the Kumon Method"

Introduction:
In the pursuit of success, many individuals rely on networking to expand their professional connections. However, a more effective approach lies in building a personal board of directors - a dedicated group of experts invested in your success and well-being. This article explores the common points between successful business models such as IKEA, yakiniku restaurants, and the Kumon Method, and how they can inspire us to construct our own personal board of directors.

  1. "Pushing Work onto Customers" - A Strong Business Model:
    Surprisingly, both IKEA and yakiniku restaurants share a common business model where they push certain aspects of their business processes onto customers while adding an element of entertainment. IKEA, for instance, requires customers to assemble furniture, while yakiniku restaurants involve customers in the cooking process. This approach creates a win-win situation, offering customers a unique experience while reducing costs for the business. Similarly, the Kumon Method simplifies the role of the teacher, as it primarily involves supporting self-study children in reading, writing, and math.

  2. Forget Networking, Build Your Personal Board of Directors:
    Rather than solely focusing on traditional networking, it is more advantageous to build a personal board of directors. This board consists of individuals who genuinely care about your success and possess a deep understanding of your strengths and areas for improvement. This diverse group offers a range of perspectives and provides valuable insights, ensuring you receive honest feedback and accountability. Unlike a mere network, your personal board consists of trusted individuals who have witnessed your capabilities and are invested in your growth.

  3. Authenticity and Care in Board Selection:
    When selecting individuals for your personal board of directors, it is crucial to choose those who truly care about your success. Instead of directly approaching someone and asking them to join your board, it is better to find opportunities to showcase your skills and expertise. By searching for projects or initiatives your potential board members are passionate about, you can offer your assistance and demonstrate your abilities. This approach fosters a natural connection and increases the likelihood of their willingness to support your journey.

  4. Lessons from Successful Executives at Facebook:
    Observing the growth of top executives at Facebook, an interesting pattern emerged - they had built a support system of advisors who helped them become their best selves, both professionally and personally. These advisors were committed to providing the necessary guidance and support, enabling the executives to reach their full potential. This exemplifies the true potential of a personal board of directors, as they genuinely believe in your capabilities and invest in your success.

Actionable Advice:

  1. Identify individuals in your professional network who truly care about your success and possess a deep understanding of your strengths and weaknesses.
  2. Seek opportunities to showcase your skills and expertise to individuals you admire, offering assistance in projects or initiatives they are passionate about.
  3. Embrace honest feedback and accountability from your personal board, as growth requires the courage to confront your imperfections and accept constructive criticism.

Conclusion:
Building a personal board of directors can transform your career trajectory by providing the guidance, support, and diverse perspectives needed to achieve success. By leveraging the lessons learned from successful business models like IKEA, yakiniku restaurants, and the Kumon Method, we can recognize the value of pushing certain responsibilities onto others while incorporating entertainment or support. Embrace the power of your personal board of directors and harness their collective expertise to reach new heights in your professional journey.

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