The Value of Formal Director Development

I recently wrote about the enormous value – and competitive advantage – you can gain from undertaking ongoing, informal director education. There is, however, a key factor of your Director development requirements that informal education can have difficulty in meeting.

It’s what scares me the most about being a Director.

The ‘unknown unknowns’.

Those things that you don’t know that you don’t know. These blind spots can cause significant detriment to you, the Board, and/or the business if they go undiscovered. They’re worth unearthing and understanding.

Uncovering these unknown unknowns is difficult on your own.

This is where formal education will help.

Having experts to fill in the gaps and tell you the things you need to know and do is worth investing in. There are many different avenues to accessing formal Director-relevant expertise and education.

There are a handful of considerations to make when selecting which education avenue to take. Namely, the stage of your Board career, your time budget, your financial budget, how comprehensive you want the course to be, and what other education (informal and formal) you are currently invested in.

As for formal education options, in the interest of your professional growth and development I will share a few with you.

Boardroom Bootcamp
This course is our comprehensive introduction to being a Director on a Board. Ideal for people who are getting Board-ready, newly on a Board, or looking for some formal Director education after being on a Board for many years. This online course enables you to accelerate your learning and understanding of what it takes to be on a Board. Cost: $875 AUD More information.

Diploma of Governance
The Diploma of Governance is delivered by the Institute of Community Directors Australia. This ‘qualification’ will provide you with the knowledge and skills you need to sit on or work with not-for-profit boards and committees. Cost: $4,500 (as at 22 April 2024) More information.

Company Directors Course
This course is delivered by the Australian Institute of Company Directors and is tailored to experienced Directors wishing to take their performance to the next level, as well as executives and managers who need an in depth understanding of governance issues. Cost: from $10,600.00 (non-members, online) to $11,900+ (non-members, in-person) as at 22 April 2024. Price varies based on location. More information.


I can emphatically say that there is a time and a place for formal Director education. It is worth investing in, whether through a grant, via your employer, or by self-funding. There are many options for you to choose from. It is your responsibility as a Company Director to make this investment when required.

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