Louise Broekman: Welcome to the Advisory Board Insights. My name is Louise Broekman and I’m here with Helen today to share her story. Helen, welcome to the session today. Let’s start off, if you want to share a bit about your story, that’d be great.
Helen Pryse Lloyd: So I actually met yourself, Louise, quite a while ago at an event I was at and something that really stood out when I was listening to you talk about Advisory Boards was the graph that you shared where on the lower end of business getting some coaching and how that can then transition into an Advisory Board as a business progression. At the time I was actually using a business coach and I felt that that experience was coming a little bit to the end of its life. I was not getting the value out of the business coach that I had initially experienced. And something that you said resonated with me with regards to skills, knowledge and experience through the Advisory Board structure that could help me to grow the business. It just felt like a point within my business that I needed to take that next step and find out more about how an Advisory Board might be able to help us. So that was my initial realisation that it could actually be something that was very beneficial to me and my business to help it to grow and develop in the next stage. It was about to transition into.
Louise Broekman: I remember meeting you and feeling really excited about what you could see with your growth, but also trying to navigate some of the constraints as well. So in setting up your advisory board, Helen, what’s that experience been like for you as a business owner?
Helen Pryse Lloyd: Very easy, we met with you very quickly after my initial interest. You asked very clear key questions that helped you, I believe, get to the bottom very quickly as to what we needed as a business. And I think before I even spoke to you at that first meeting, I hadn’t really got clarity in my head of what I needed, but you helped me to understand what it was that my business needed. So through that initial conversation, I identified through the questions you asked what we needed and we very quickly put the expression of interest out and got on a number of very interested, very talented advisors that of these details came through the post through the email.
Louise Broekman: Fantastic. So now you’ve appointed a chair and you’re on your way with that as well. What are you looking forward to with your advisory board for the future and how long?
Helen Pryse Lloyd: So it’s been a couple of months of, of really exciting, okay. Experience with the advisory board. Our chair has actually done an amazing job to support us. The business growth and things that have been happening in the last few months has been happening at a very fast pace for myself. And our chair has completely rolled with that advise supported and done what we’ve needed any point in time. So it’s not been a very clear basic process. Just because of the needs of my business at the moment. The chair that that’s been supporting us has just really been able to support whatever we’ve needed. Um, so it’s his skill and experience.
Louise Broekman: And you’ve got another advisor coming in now popping in now too to provide support as well. So it’s starting to really take shape for you guys, which is, yeah, you’re a very busy business owner with a high growth business and it’s got a lot of complexity to your business too. What kind of tips would you provide other business owners?
Helen Pryse Lloyd: I would just say you need to find the right people to support you that have the knowledge and expertise that you don’t have. So it’s, it’s an I, I feel it’s not always about finding somebody that has that industry knowledge. I’ve actually chosen our advisor and our chair based on the fact that he doesn’t actually have any industry knowledge to the business that I’m in, but he’s got the proven experience within other businesses to achieve the goals that I’m looking to achieve within my company. So I would say go with not necessarily trying to find somebody who knows your industry or your business directly, but find someone with the skills two, move your business forward in the way that you want.
Louise Broekman: Yeah. And that process of taking the time to go about what it is that you’re looking for, it was that it was an important sort of transition process for you, wasn’t it?
Helen Pryse Lloyd: Absolutely. And actually when we had, as I said, we had amazing response to our EOI and it was very hard to make the decision as to who we were going to choose as the chair and a strong, very strong candidates. We had one had very strong industry knowledge and experience and the chair that we chose didn’t, and I just went with the realisation of what I needed within the business and the closest fit for that.
Louise Broekman: Yeah. Great. And Helen, any tips for advisors who are looking to sit on advisory boards?
Helen Pryse Lloyd: I think just really to be confident and knowledgeable in what they know about and not trying to pretend that they a of all knowledge in all areas, because I don’t believe anybody is such as be true to yourself and your knowledge and skills and if it’s the right fit, then it will be a very easy process and you’ll give the best to the company that you’re working with. Don’t try and sell yourself to be something you’ll not.
Louise Broekman: Yeah. Terrific. Very, very important information. Helen, thank you so much for sharing your story and I look forward to continue to track in your success as you, as you continue to grow and appreciate you sharing your insights today.