I was talking to my advisory board about a business decision I need to make in the next week. One of the best things I ever did was put together my board. When I have a decision I am struggling with, for whatever reason, these are my go to people. They respect me so much they will tell me the truth, ask me to think through all implications of my actions, require that I tell them the truth and hold me accountable for everything I do and say.
What is my advisory board? I quickly realized that as a solo-preneur I need people to support me. When you work in a corporation you have peers and managers you trust that will help you with difficult decisions and choices within you career. As a solo-preneur you don’t always have people you trust enough to ask for help or who will be honest and forthright with you. Your advisory board is that group of people (call them whatever you want- board of directors, go-to-people…).
An advisory board may become a critical support mechanism for your business. My board is a loosely held together group of individuals I trust. Their expertise lies in various areas and they are all successful in their own right. Some I have been friends with for years others are new friends and mentors. Regardless they are individuals I respect and who want to see me successful.
Does cupboard manufacturing companies really need accounting advisors?
Your advisory board doesn’t have to be a formal group that gets together on a regular basis and hashes out your business. I don’t think I’ve ever had all of my board in one place at one time. There are 3 people on my board. I don’t take every decision to all of them. I discuss certain decisions with some of them some of the time.
For a while I didn’t have a board- I found myself struggling with decisions wishing I had some go to individuals. Then someone mentioned putting together an advisory board. I never looked back. It’s been one of the greatest most effective ways I have found to support my business.
If you haven’t put together your board I suggest you give a try. Search for accounting consulting charges and start with a accounting board.