Cerius Business Today – New Year’s Resolutions and Advisory Boards
On this episode of Cerius Business Today, Pam and Kristen discuss using advisory boards in strategic management.
Please join us on our journey as you’re laying your own plans for strategy and accountability in the new year by incorporating advisory boards.
- Why businesses need an Advisory Board?
- How business owners can benefit from one?
- The building of an Advisory Board. Join us!
Pam stresses the importance of having a balanced advisory board:
“We had one advisory. Sure, we got some great marketing advice, he was great in that area. But I need others to come from the operations, the sales. From whatever areas we also need help in. I need them to come from their point of view. Because if I was just bang on you all day long about sales and not take in consideration operations, IT, marketing, would they be the right answers? Probably not. So we need a nice balanced advisory board with again some of our weaker areas in our company that we think we can benefit from an outside perspective. What do we tell our clients all the time? My statement all the time is outside perspective can bring your things you wouldn’t ordinarily do. And it’s true.”
Kristen shares her reservations on advisory boards:
“What if the advice is bad? It’s bad not because the advisors are bad, but they just don’t understand our industry. They don’t understand the uniqueness of what we do. And I know everyone says my company is unique, my industry is unique, but we really do have a niche. Everyone out there knows the word manufacturing, not everyone out there understands contract executives or interim executives. But they just really don’t get that and they want to keep putting their spin from their experiences on our company. We need people who understand that and very few really understand what we go through.”