Fundamentals
When does a business need an advisory board?
Explore what an advisory board does and when an advisory board can be most beneficial for your business.
An advisory board is like having your own specially selected team of independent experts on hand – and at a fraction of the cost of individual consultants.
Unlike a Board of Directors, they have no fiduciary responsibilities. They are problem-solvers, not decision-makers. Their role is to help you succeed by bringing the benefits of their wide-ranging experience and expertise to your business.
With the right mix of experts, a good advisory board empowers you to:
Most advisory boards are made up of three key roles:
The role of the chair is to establish and facilitate a formal advisory board structure that will support effective advisory board outcomes. This may include:
Our Advisory+ service can support your organisation to develop internal capability to Chair advisory boards or connect with independent Certified Chairs™ who are committed to best practice and ethical engagement.
Advisors may include internal representatives, stakeholders or external experts. Advisory board members are selected for their knowledge and experience to solve problems, explore options and help shape strategic direction. Their role may include:
Do you need support accessing advisors or upskilling your existing advisory board members on best practice?
Internal directors and stakeholders are directly linked to the business – often founders, directors, CEO’s, lead investors and other senior executives. They are also responsible for:
Find out about how we can support your business or organisation.
Whether you’re starting up, scaling up or already established at the big end of town, one thing’s for sure – growing your business is a big priority. But imagine taking that goal one step further. Daring to dream. Finding an opportunity. Taking a risk. And striding ahead of the competition.
That’s where a professionally qualified advisory board can help. It puts a whole group of carefully chosen business leaders on your side. Different experts, with different experiences, and one thing in common – each one is committed to helping your business become more successful.
The Advisory Board Centre has all the help and support you need to get started.
For entrepreneurs seeking to develop, raise capital or validate a business model.
For high-growth businesses seeking to maximise market opportunities and expansion whilst strengthening controls internally
For businesses and owners to maximise their value and transition to step up, step back or step out
For organisations seeking independent thinking to inform their strategies
The Advisory Board Centre can offer you access to a global of network, best practice advisors and chairs, to support you along the way.
Explore what an advisory board does and when an advisory board can be most beneficial for your business.
Discover more about the popular models of Advisory Boards, their characteristics, and which may be the best fit for your business.
Harnessing the power of an advisory board is often transformational for the business, its owners and executives.
To be able to capture that and have these really sophisticated but humble conversations with the finest minds is so powerful.
Louise Broekman
Founder & Certified Chair™