Research has shown (my own research as well as others) that having an advisory board can make all the difference in business success and yes, even in personal endeavors. Master mind groups, advisory boards, boards of directors, you name it, listening and responding to a group of qualified individuals whom you trust and respect can produce big dividends.
Three keys to success:
1. Determine what the purpose of your board will be. Is it a focus group for a new product or service ? Is it a group of advisors who will advise you on growing a business or your career?
2. Outline the benefits/commitments to those serving on the board. Networking with other board members, opportunity to learn from you and others. Mention appropriate perks and any monetary compensation and time commitments.
3. Challenge yourself. Invite people to serve on your board who will give you honest feedback. Some advice may not be easy to hear. Remember, you don’t have to act on all advice given to you, but you do need to listen.
4. Treat board members with respect by conducting yourself and the meetings in a professional manner. Work to create a rewarding experience for everyone, and understanding that you have to manage personalities, logistics and outcomes. If you create a board, you have made a commitment to others as well as yourself and your goals.
What other tips would you give to those starting or joining an advisory board ? What other questions do you have?
Our board is featured on the Facebook page, cinderellaceo.com