5 Ways to Improve Your Strategy for Creating an Advisory Board

10/16/2019

5 Ways to Improve Your Strategy for Creating an Advisory Board | Hans Kohlsdorf | Advisory Boards

a 5 Ways to Improve Your Strategy for Creating an Advisory Board

by Hans Kohlsdorf | Sep 16, 2019 | Advisory Board, Blog, Hans Kohlsdorf

Previously, I’ve addressed how to create an effective advisory board. Now, I’d like to place more focus on how to improve your strategy for creating an advisory board. There are certain steps to take in order to just create the board itself, but before searching for members and taking those steps to create the board, you should put some thought into the strategy itself. Taking time to consider your strategy before taking action puts you in a better position to create a high impact board that best benefits the company.

Think about its purpose Before taking steps to actually create your advisory board, think about what its purpose is in your organization. The last thing you want to do is create a board without clearly thinking about its purpose; you’ll waste too much time trying to figure out what the board should be doing and will end up wasting board members’ valuable time. Understanding the board’s purpose will help make it a high impact board.

Discuss with your partners When you’re considering creating an advisory board for your company, first discuss it with your business partners. You should all be on the same page and have the same purpose in mind for the advisory board. If not all partners are on board, there could be unnecessary conflict and tension with the advisory board as they try to direct your company. If you do not have any business partners and make the majority of the business decisions, it is still helpful to discuss creating an advisory board with employees in higher-up positions within the company.

Have a solid business plan

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10/16/2019

5 Ways to Improve Your Strategy for Creating an Advisory Board | Hans Kohlsdorf | Advisory Boards

It will be difficult to have a good strategy for creating an advisory board without a solid plan for your business. While you should have created a business plan when the company was first founded, that plan may have changed drastically or may have been fairly thin. Before creating an advisory board, take the time to evaluate your business itself and find ways you can improve it; you want to be able to answer any questions your advisory board members may have and be able to present them with a well-organized company.

Know what to convey to the board As you begin looking for board members, you need to have a clear idea of what information to present them with when you ask them to serve on the board.

Potential members will ask lots of questions and want to ensure that sitting on an advisory board for your organization is a good decision. Know how you’ll pitch the idea to potential members and what information you want to share with them.

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Categories Advisory Board Blog Business Hans Kohlsdorf https://hanskohlsdorf.org/5-ways-to-improve-your-strategy-for-creating-an-advisory-board/

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