What does ‘good’ look like when engaging external advisors and fostering a successful advisory board? Certified Chairs™ Jane Beaumont and Sonya Beyers weigh in with excellent advice that resonates for business owners, advisors and Chairs alike; here are some of their top tips:
- A 90-day plan! More commonly referred to as the ‘Board Starter Program’, this process identifies the key priorities of the business by profiling gaps and opportunities in order to determine where strategic resources can fill in.
- Maintain from the beginning a clear-cut focus by using the code of ethics guidelines and best practice framework so that all advisors have clarity on their role, the purpose for the advisory board and the principles that will drive it.
- Advisory boards need not be prescriptive, rather they are fit-for-purpose and can evolve with what works for the organisation at a certain point in time. Engaging advisors at different periods that have a variety of knowledge and experience will provide a totally different perspective. (Enter the Advisor Concierge).
- Regularly (preferably every meeting!) revisit the original charter and priorities with mindful methodology – is the advisory board making an impact? Discuss and acknowledge the milestones achieved so far and compare them to the goal. This will help to stay on track, abide by best practice and not become complacent.
For Jane and Sonya, the above tips are an important part of ensuring excellence, not just good, when it comes to making an impact as an advisory board on a business. Learn more about best practice as an advisor and for advisory boards with our ABF101 Advisory Board Best Practice Framework™.
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