āOver 80% of GCs believe itās important to have a seat at the C-Suite table. But, less than half of CEOs see them as a strategic business partner. Not sure how to leverage yourself as a valuable member? We brought on experts who shared their experiences of integrating into the C-Suite and the issues they faced along the way.
Meet the Presenters:
Moderator:
Lisa Lang, General Counsel, Kentucky State University
Panelists:
Brooke Smarsh, General Counsel, Flow
Adam VanWagner, General Counsel, MoneyLion
Lydia Cheuk, General Counsel, Away
Key Takeaways:
- Leverage relationships with executives early on
- Spot company trends you can bring to the executive team
- Take time to learn the business
- Be concise and direct with your communication
How do you define C-Suite?
4:12-6:50
Adam, āA strategic hub for the businessā
Senior executive-type decision making authority over significant business lines.
Brooke, āWe have the C-suite with the C-title, who we also call the executive communityā
The executive team meets every day, and the next level committee meets every other week.
Lydia, āWe have a team of 7 C-level peopleā
We meet without our CEO once a week, and we meet with our CEO every week.
What is your value as GC within the C-Suite?
6:50-16:30
Adam, āI am there to evaluate any legal or regulatory concerns that need to be reviewedā
There to provide background legal oversight- more on an ad hoc basis.
Brooke, āWhat trends are we seeing living in the legal seatā
Itās important to spot company trends you can bring to the team, and evaluate the priority level.
Lydia, āAs a GC you have a 30,000 foot view of the businessā
Leverage your relationships. Your workforce and team are the foundation of your success. By leveraging those- it helps move the way for the company.
Lisa, āI have the ability to bring everyone togetherā
Building those relationships helps promote the flow of the whole team. Ā
How did you learn your business?
16:30- 27:32
Adam, āI made a point of trying to get a holistic picture of the businessā
Make an effort to learn the business backwards and forwards- especially the business operations.
Brooke, āGet in there, ask the questions- and digā
Be as open as possible, and learn the nitty-gritty.
Lydia, āHave a curious mindsetā
Knowing your business makes you a much better advisor. Go to meetings you may not necessarily want to.
Lisa, āHave those water-cooler conversationsā
They may open issues or frustrations of the company, so you can operate better.
What skills do you need?
27:32-35:48
Adam, āLearn how to be concise and directā
Lawyers can be used to digging into the details- learn how to convey things differently.
Brooke, āMany people donāt read more than the first lineā
Learn how to read people and motives-as quickly as possible.
Lydia, āYou are a business executive first and a legal expert secondā
Shift your mindset to being part of the executive team. Ā
Lisa, āWork hard on asking questions betterā
I was making assumptions based on things I was sharing. Make sure you are fully versed on what the facts are.
Any advice for anyone coming into the role?
35:48-40:55
Adam, āShow you are on the ball on what the business is trying to achieveā
Observe the dynamics of the team. Learning the business should be the first order.
Brooke, āListen intently, donāt offer suggestions at firstā
Keep a notebook for the first 90 days, write your ideas down, and look back as you learn the business. Make sure you are all aligned on the risk tolerance. Ā
Lisa, āHave a really collaborative approachā
Take away the law-firm vibe, and come in as a colleague! Build a strong team beneath you.
Did you have any strategies to be added into the executive team?
44:18-48:38
Brooke, āI made sure the CEO knew I had no ulterior motive, and that I have the back of the CEOā
Build and support the relationship with the CEO as early on as possible.
Did you have to change the relationships with other colleagues when you joined the C-Suite?
48:38-50:51
Adam, āThere definitely was a transitional periodā
You represent the business in a different way, and the conversations may have to change. You have to not be as accessible to junior level employees.
Do you have any negative perceptions you had to overcome?
50:51-53:20
Lydia, āIāve been really crisp on what our legal team isā
Make sure your team is growing in the same direction as you, and establish that value early on.
If you want to find out more about Lawtrades, feel free to set up a call with our amazing team here.
Want to join our exclusive community of in-house leaders? Apply here.