I've been thinking about this for some time- I need a board of advisers. Big businesses have them, non-profits big and small have them, and I think an entrepreneur should have one. How it should work exactly, I'm not yet sure.
But here's why I'm eager to form one: I really need outside perspective and tough criticism to grow as an entrepreneur. In addition to that, I think there'd be huge value in opening up my business to a trusted group that can provide input on everything from marketing strategy to HR, to financial operations.
If I'm only getting input from others in my industry or reading business books, I'm probably limiting my potential success and suffering from smallmindedness.
So how could it maybe look?
I'd probably meet with my board of advisers once a quarter or twice a year. We'd meet over a nice dinner (that I would provide) and spend a couple hours in discussion. Prior to the meeting, I'd send them a proposed agenda, financial statements and suggested topics, and the advisers could suggest changes to the agenda beforehand. At the dinner, I'd present to the group, then open myself up to feedback and discussion for the remainder of the meeting.
At first blush, it seems a bit one-sided, but in my experience, the times I've advised other entrepreneurs or taught students, I ended up benefiting greatly from the experience. Not only is it gratifying to play a role in someones success, but it often becomes a shared learning experience. In fact, I'd be honored to be on someoneelse's board of advisers at some point.
I've already spoken to one potential advisor so far and received a warm response. I'll keep you posted as I pursue this.
Could you or your business benefit from a board of advisers?
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