In an earlier blog we talked about the benefit that a Board of Directors can bring to your business. But there has been increasing discussion lately about another option you may wish to consider: an Advisory Board.

In Harness the Power of An Advisory Board, writer Susan Ward states, “No business is too small to benefit from having an Advisory Board and an Advisory Board is such a powerful management tool that no small business should be without one.”

Like a Board of Directors, an Advisory Board is comprised of skilled and knowledgeable individuals whose purpose is to support you as you build a successful business. They will ask questions, draw on their own experiences, and push you to think creatively. They will also hold you accountable for decisions you make.

While having an Advisory Board is highly recommended, implementing one may be easier said than done. Now there are not only stories about the importance of an Advisory Board, there are some concrete tips on how to start and use one. Susan Ward followed up ‘Harness the Power of an Advisory Board’ with Creating an Advisory Board in which she provides several tools and tips including outlining the benefits of participation to potential members and appropriate compensation.

You might also find value in the recent Forbes.com article For A More Successful Business, Create a Board of Advisors that provides 10 guidelines on developing your own advisory board.

If no business is too small to benefit from having an Advisory Board, now might be the time to start implementing one…

Posted by Alison Kirkland at 5:59 PM 0 Comments

Tags Women-owned business  women entrepreneurs  board of directors  advisory board  advisors 

You are a sole proprietor sitting alone in your office looking for inspiration, insight and connections, who do you call?

A Board of Directors may be just what you need. Good boards are comprised of knowledgeable, experienced and well-connected individuals who can help you take your business to the next level. Just as many hands make light work, many brains can help solve problems and create innovative opportunities. Best of all, boards are not just for multi-million dollar corporations with offices around
the world.

The type of board that is appropriate for your business will depend on your corporate structure, the size of your organization and its goals, not to mention its profit or non-profit status.

While legal advice is always recommended when establishing a board, the Free Management Library ™ is an excellent online resource that will help you evaluate whether a board of directors is appropriate for your business, and if so, the form it could take.

Stay tuned for our upcoming blog on Advisory Boards.

Posted by Maurice McCarthy at 2:19 PM 0 Comments

Tags Women-owned business  women entrepreneurs  board of directors  board member