Build Your Advisory Board

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Do you have an Advisory Board for you business?  Have you considered it but you don’t know where to start?  An Advisory Board can be one of the best things that you can do for your business if you use it correctly.  It take work and it take commitment from everyone, done right everyone benefits.  Here are some steps to creating your Advisory Board.

1.  Select 3-10 people you believe can bring valuable assistance to your business.  I asked people who are in my network and  who new my products and services, they were raving fans. I had a high level of respect for each of them and their business success and I knew that they would hold me accountable.

2.  Ask each person if they would be willing to serve on your advisory board. You cannot get to yes if you do not open yourself to the possible no.  Let them know you value their opinion and would like to have them on your board.

3.  Let your board know how often you would meet, when you would meet, what you would like to achieve, and why you chose them to help you.

4. Set your first meeting and be prepared.  Start your meeting on time and have an agenda.  Let your board know what your goals are, what you are currently doing and what kind of things you want to do.  Let them ask you questions and get to know your board.  Above all, be completely prepared to work each time you meet.

5.  Thank your board, ask how you can help them.  I ask my board the last time we met, what it was that I could do for them.  Their response, “Keep doing what you are doing, be prepared and do what you say you will.”  I was very surprised, I am always prepared and always do what I say.  I also take great pains to find referrals for my board members.

A Board of Advisors is a great way to help you focus on your business and build strong relationships, it is a great way to strengthen your network.

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3 responses to “Build Your Advisory Board

  1. Excellent advice! I try to surround myself with mentors who are better at life in general. 😉 When it comes to marketing and social media you can have an online Advisory Board too..

  2. Kyle:
    Mentors by their very nature are different from a board of advisors. Those who serve on my board are not my mentors. They give me direction for my business, they hold me accountable to moving my business forward. They are my business advisors. My Mentors on the other hand, show me ways to do things, teach me how they were able to get something done. I have a mentor who works with me in my writing and getting published. But they do not hold me accountable to the direction of my business.

    While I do believe a virtural board of advisors can be effective, I would argue that the face to face board is more effective to giving your direction. When you look them in the eye you know you cannot short cut, fudge or not do what you said you would!

    Good luck

  3. This is awesome information! A board of advisors will hold you accountable, and that’s a good thing. Build a board=build your business. Shawn McCarthy BNI ED Ventura County, Ca.

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