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Online Business Success: Attracting Ideal Advisory Board Members

Written by: T.C. Coleman

Article Overview: Are you consistently getting free customized business advice from industry leaders? Read this article and learn strategies for attracting expert advice for your business.

Online Business Success: Attracting Ideal Advisory Board Members

Attracting thought-leaders and business executives to your advisory board is easier than you think when you have a clear business vision and have thought about the design of your advisory board.

Advisory boards are most attractive to prospective members when the business owner is:

• Clear about the company's purpose, mission, vision and goals;
• Clear about the board's purpose and mission in relation to the company; and
• Able to make it easy for prospective members to accept membership by putting together a collection of documents that give an overview of the business. The type of collection is often referred to as an advisory board book ("ABB").

I suggest that you give a copy of your ABB to each person you ask to join your board. Your ABB should include the following parts:

• Executive Summary. An effective executive summary is a two to three page document that details your company's vision statement, mission statement, goals, objectives, core projects, target customers/clients and value proposition.
• Photographs. Include photographs of your projects, facilities or you in action (if you are a service provider). This is a great opportunity to showcase your company's culture and personality.
• Logistics. Make it easy for prospective members to accept membership by telling them exactly what is expected of a board member. At a minimum, logistical information should include your board's purpose statement and membership requirements. If you require members to sign confidentiality agreements, be sure to enclose a copy.
• Agenda and Logistics. I advise clients to give prospective board members as much information as possible about membership. Great ways to do this are: including a draft agenda in the ABB and providing general guidance about locations of future meetings. For example, if you live in the DC or NY metropolitan areas, be sure to let your members know in what part of the city the meetings will be held (e.g., Manhattan, Brooklyn, Harlem, Montclair, Arlington, Alexandria, Bowie, Silver Spring, Ft. Washington, in the District, etc.).
• List of Other Members. Once you have secured your first member, ask permission to include that person's contact information in your ABB. Remember, successful people like to be around other successful people; so be sure to let your prospective members know about the business leaders and "influencers" who are investing in your future.
• Your Biography. Share your background with prospective members. Let them know why you have chosen your business, your professional and life vision/purpose, educational background, hobbies, interests and any other information that provides them with a reason to feel confident in investing their valuable time in your growth and development.
• Token of Appreciation. Further distinguish yourself by including a small token of appreciation for the time your prospective member has spent considering your advisory board membership proposal. A $10 Starbuck's gift card is an example of a token of appreciation. Be certain to make it crystal clear that your token of appreciation is being given without any expectation and is simply a gesture of thanks for your prospective board member's time in reviewing your advisory board book. Make this the last item in your ABB.

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Article Tags: abb, advisory boards, business executives, business vision, confidentiality agreements, core projects, culture and personality, draft agenda, li li, membership requirements, mission vision, page document, prospective board members, prospective members, purpose statement, s vision, target customers, thought leaders, value proposition, vision statement



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