Having a good advisory board can help you succeed in your business, or improve certain aspects. Discover the advantages and characteristics.
What is an Advisory Board?
Undoubtedly, having a good advisory council is vital to business success. It is interesting to learn which profiles to choose advisers who accompany you are on the same page as you. Thus, all “they will row in the same direction” and will fulfill all that is proposed.
So the purpose of the advisory council is, as its name suggests, be a source of consultations and advisory address some issues that perhaps we are not so aware. On the other hand, it has the goal of supporting the project and offer strategic plans for growth and success.
Advantages of having an advisory council
In some countries, like the United States, very often hire or establish an advisory council. There is a close relationship between successful businesses and groups of experienced advisors. This trend is increasing, but there is still taking the big step.
It is essential to have an advisory board for our businesses achieve success faster, as well as to create and make available expansion plans for the future. An adviser is not only dedicated to recruit employees or talents, or to offer their expertise in finance or accounting, but must be aware of what is happening in the company and define strategic plans that bring results in a higher impact on the market.
It is also good to know that having an advisory board is not the same as having a board of directors. In the latter, there is talk of legal or bureaucratic issues, economic and salaries. No doubt that is important, however, it is not what we mean. The advisory board has no power to dismiss staff or to control a company, it is support and help to define business plans and strategies for the future. They can work in the business or appointments as often as you need it.
Characteristics of a good advisory board
In order to have a good advisory board, it is necessary that this group of people to have some experience in the sector concerned and qualified executive with proven success in similar companies, for example. While this does not guarantee that everything goes well, it will be easier to make this happen if they meet the following characteristics.
- To provide long-term commitment
There is no point having an advisory council every year, a group of people who know the company and developments is needed, to analyze what has happened in the past and to prepare a plan for the future. Develop a successful business takes time and requires that the staff generally is present in a large part of this period. It is best that the employment relationship with this advice is durable, long-term, large contracts, but always based on the results. Thus, it will be easier to implement the advice or strategies listed in each meeting or situation.
- Have a creative thinking
They may be experts in something specific business, but if they do not translate into ideas, original and effective, will not help much theoretical knowledge. Look for those who think beyond what they see, to commit to get inspiration each place, they are aware of what happens around to let their imagination, etc. Sure, because having a good advisory council does not mean sitting in a room all serious meetings, a suit and looking bored. They really interesting things can be achieved with creative consultants and unstructured.
- Respond instantly
Or as quickly as possible to queries we do them. If we have to fix something at the time, did not do us any good response comes several hours (or days) later. The consultants you hire should be active , be motivated, be passionate about what they do, show interest and goodwill. They are not machines to be sitting at the computer all day, also have a life beyond the professional, but we can not accept that they are not serious about their work.
- Maintain a positive attitude
This does not mean to have a smile from ear to ear when things are bad, but if knowing look on the bright side of things. From Practice Makes and that includes the advisory council. In times of increased stress and bad news it is when people are really with a good attitude to problems. As the saying goes “those who are unwilling to abandon ship” and seek the best for exit gracefully. The council must be accessible, open, purposeful, and support you when making important or crucial to the future of your business decisions.
- Be responsible and able
This I can ask any worker in our business. In the specific case of the advisory council, not only it depends on the working group, but also for you. Sets objectives and pay attention if they have the ability to carry them out, if they feel committed to what they do, how they take each decision, etc.
To have a good advisory council must be careful. A good advisor is one who participates in many projects but has the ability to recall or recognize what point each.