Connectd network for Ned - anyone had any experience?

[hungry_hog]

Was contacted on LinkedIn by someone from a company called Connectd
Apprently they link start ups with investors and NEDs (non executive directors) and people with experience are in demand as NEDs.
So as a contractor the NED role sounds really appealing, 1 meeting a month, bit of extra cash and connections.

Anyone on here come across them? It all sounded good to me until they said in order to enter their network you need a fee of GBP720 (basic) or GBP2880.
This includes a pro bono placement as an NED.

I'm thinking most of the companies on there are looking for investment not NED. And I can't see why a start up which is very cash poor would splash out on NEDs.

I have no intention of signing up, as I am quite cynical about it, but would be interested to hear if anyone else has been approached or knows of this organisation.

[northernladuk]

Their trustpilot sends up some warning flares.

Sounds like a bit of a crock unless you really are a highflier to me.

[Lance]

crock of sh1te.

If you want to be a NED you either need the right school tie, or have been a CxO of a FTSE listed company.
Paying some crooks cash ain;t gonna help.


Mind you. I don't see how these influencers make any money, but they do. So what do i know?

[ladymuck]

Or, join IPSE and apply to be a NED on their board next year.

[hungry_hog]

Thanks all.
As suspected this is fishier than a mackerel that's been left in a bin for 2 weeks, then lathered in thai fish sauce

NEDs as you say are surely experienced board members from blue chips rather than random BAs who've been working on requirements !

[edison]

crock of sh1te.

If you want to be a NED you either need the right school tie, or have been a CxO of a FTSE listed company.
Paying some crooks cash ain;t gonna help.


Mind you. I don't see how these influencers make any money, but they do. So what do i know?

Neither of the statements above are accurate. NEDs do cost a lot of money, typically £25-30k p.a. at the lower end for smaller companies, up to about £50-75k for FTSE250 level and £100k plus at the FTSE100 level. That's typically for 1-2 days work a month. Lots of smaller companies need NEDs and they simply can't afford an ex-CxO from a FTSE listed company.

For sure, a NED is someone experienced at a senior level. No one is going to pay a BA £1500-2500 a day but they aren't always a CxO or from a FTSE firm.

I've spoken with Connectd and I can't vouch for how good they are, but there are several similar networks for NEDs and advisors. Most NEDs are recruited through networking and at the upper end, by specialist recruiters who place a lot of board members. A typical scenario is a NED is about to stand down and the search for a new one starts; one or more of the existing board members might know of someone suitable through their network.

One relatively recent development for technology orientated NEDs which might be more appropriate for some of the people on this forum, is Advisory Boards. There can be a lot of pressure on a single NED regarding guiding the board through strategic technology challenges. Spreading the load amongst several people helps and also brings in wider perspectives. Younger/smaller and/or more tech savvy companies are using Advisory Boards more often.

[courtg9000]

Or, join IPSE and apply to be a NED on their board next year.

LOL