It is my privilege to work with CEOs and business owners all day, every day. It isn’t a job, it is just good fun! A common question I get is “why should I join a peer advisory board?” That is an excellent question. Being part of a CEO advisory board can be life changing. Literally.
Here are a few ways that a peer advisory board can help you grow your business:
- Why make mistakes you don’t have to? On an advisory board, you’ll be able to learn from others. Leveraging the experience and expertise of other business owners (typically 250-300 years of combined experience on a given board) will help you avoid costly mistakes.
- Growing your business can be hard. Managing growth can be challenging. The outside perspective and vast experience of your fellow members will help tremendously in moving the needle of your business.
- The CEOs/business owners on a peer advisory board will give you ideas and get you thinking about your business in a different way. They’ll ask you tough questions that only someone on the outside can ask and help you think outside the box of your specific business or industry.
- You will be encouraged to outperform your goals. Your fellow members will help you set goals that you might not currently think you can achieve, but they’ll support you and hold you accountable.
- They will help you obtain more equity in your business. Your business valuation will depend less on you, which will mean more time for you and for your family. Should you want to sell the business, it could also mean more money in your pocket.
- Your trusted advisors will have your back – personally and professionally. Let’s face it, your personal life can impact how you run your business. Your trusted board of advisors will help you navigate the challenges and opportunities that you face in business and in life.
- In giving back to your peers, you will learn too. When giving feedback to another CEO, you might end up asking yourself a question like, “I used to do that, why did I stop?” Let’s face it, we learn by giving as well as by receiving.
The issues and opportunities discussed in a CEO Advisory Board include sales, marketing, finance, HR, strategic planning, IT, mergers & acquisitions, partners, time management and more. Your business deserves more than the occasional conversation with a buddy, a spouse or other outsider. While these resources are certainly valuable, a CEO Advisory Board is going to give you hard hitting, honest, actionable feedback every month.
You will learn. You will be held accountable. You will see increased profits and improved operations. Most importantly, you will have more freedom to live the rich rewarding life you deserve.
Want find an advisory board that’s right for you? We’d love to help.
By Blair Koch