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How To Create An Advisory Board

Written by: Ask Michael Gerber

Article Overview: “How do I go about creating an advisory board for my business?”

How To Create An Advisory Board

“How do I go about creating an advisory board for my business?”

The best and only way to select advisors for your company is to think functionally, what expertise do you need most, and who possesses it.

Once, you have made the decision, contact the persons you have identified on your advisor "wish list" telling them that you have great respect for their expertise and you wish to introduce yourself and your company with the hope that they would agree to become a Strategic Advisor.

Certainly you recognize that they have extremely busy schedules, but, given that, you believe once they know your story they will be interested in finding out more about you.

Then schedule an appointment at a mutually convenient time.

The process will accomplish several things: first, it will require you to identify the skills you need to grow your business, and the functions within your business that are inadequately filled; second, it will require you to "package" your story so that you can tell it passionately and effectively to the most critical listener.

Third it will require you to take the risk to approach the unapproachable with confidence. All in all, a wonderful exercise.

Best, Michael Gerber

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Article Tags: advisory board, appointment, confidence, critical listener, exercise, michael gerber, risk, wish list



Related Forum Posts
Forming an advisory board - [quote="TheRainmaker":2vn60npf]As far as isolation goes, I found the concept of building an Advisory Board/Team to be a huge benefit. With my team I can talk freely and openly and I have made some lifelong friendships to boot.[/quote:2vn60npf] Hi Jude, Can you share some tips on how you first started your advisory board? Was it originally just family and friends or were you able to recruit some of your customers from the very beginning? Thanks
Good Advice for Beating Depression and the February Blahs! - Thanks everyone. Your feedback and tips are great. I have also been recommending to clients (and doing this myself) that they go back and revisit their mission/vision for their company. I find it recharges the meaning behind why we are working so hard. I also went to the salon for a girls day! Life does seem so much better when your toes look good. As far as isolation goes, I found the concept of building an Advisory Board/Team to be a huge benefit. With my team I can talk freely and openly and I have made some lifelong friendships to boot. Spring is just around the corner everyone....Keep up the great work! J
Advisory Board - Steps 9 & 10 - Hey Everyone - Sorry for the delay. I have been battling the flu the last few days which has been brutal. But I guess I cant complain, my jeans are loose and I'm down 6 pounds in 72 hours. ;0) Pretty soon I will be back at my high school weight of 117 only 5 more to go! ;0) Anyway, onto the last two steps for setting up your Advisory Board. The caveat with each of these steps is that it is YOUR board. You decide what you want and need and then work it out so it delivers. Step 9) Keep your Board Members Informed There's nothing worse than having a great team of advisors - who dont know what's going on. Once you have your board in place, its important to keep them motivated and excited about your business by giving them updates at times when you arent soliciting their advice. The fact that they have agreed to be on your board means they care about your company - so keeping them up to date will help them be of greater value to you. They are champions and evangelists for your business - commit to giving them constant communications so they can share the message. 10) Fire Bad Board Members. if you realize you have made a bad choice, get rid of him or her as fast as you can. Because your advisor board is not a formal board of advisors you wont have the typical legal issues - but you will have a good management/leadership task on your plate. Tread carefully and lightly but remember that the longer a 'bad seed' sticks around, the longer it takes to remove the 'stench' after they are gone. Just think Omarosa - and cut em loose! This can be very uncomfortable but if you act with integrity and are really upfront about what you need, you should be able to bypass having to let anyone go. Go slow in bringing your board together - perhaps have existing advisors talk with / interview potential new advisors in order to confirm your decision of fit. Good luck! I'm here to help! Jude
Just A Hello From newbie - Hello All its Adalia From Yucca Valley , California . i just want to say that i'm glad i join this Board , Such a nice Board with lots of info, can spend hours here reading all the great post. Thanks
Re: I am a newbie to this forum - Yes, on the Board Index page there is a search where you can see what we already have going. If you are looking for a particular subject, that's a great place to start and it keeps us from having multiple threads on the same subject.


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