Creating a Board of Advisors

Having a Board of Advisors can be an exciting way to help you grow and develop your business to Stage 3 Growth. My experience though, is that this is rarely the case, let me explain.

I’ve sat on many Boards during my 25+ year career, mostly private closely held companies and a couple of not for profits. Except in rare instances the Board was largely ineffective. Here are several reasons why:

  • Unclear reason for why the organization has a Board
  • Too much “group think” and not enough objective inquiry
  • Founder/CEO/entrepreneur unreceptive to outside counsel
  • Too many friends and family members on the Board
  • Board members not trained on how to be an effective Board participant
  • Too much ego, not enough compassion; too much advice, too little constructive questioning
  • Weak agendas and meeting facilitation and unbalanced participation by Board members

From this experience though, I do believe a well constructed Board can help privately owned businesses strengthen and elevate the professionalism of their top executive team.

I’ve developed a Board strategy as a natural extension of my executive coaching. During my career I’ve coached entrepreneurs and senior executives as they faced and met the challenges of growth.  Personal questions, like; “Is my executive team up to the task? …How do I balance the need for systems with the need to stay flexible and nimble? …Am I capable of leading the company to the next level? …Should I have a Board of Advisors? …How can I best use outside advisors? …Do we need a succession plan for the orderly transition of management responsibilities? …How do I attract and retain top talent to fuel our growth?”

8-Step process for Creating an Effective Board of Advisors

This process will guide you through an eight step process for creating and sustaining an effective Board of Advisors.

Quality decisions, rapid implementation, and swift corrections are hallmarks of a well managed company.  Having an effective Board of Advisor is a way for you and your top executive team to optimize these qualities and keep pace with the challenges of growth.