1. Ten Factors Contributing to a Successful Advisory Board By: Susan Hammond

    Ten Factors Contributing to a Successful Advisory Board By: Susan Hammond

     

    Why are some advisory boards successful while others are not?  In my years of participation in and facilitation of advisory boards I have observed the following ten factors present:

    • The environment fosters synergies between the advisors' and CEO's thinking;
    • Recognizing that “the sum of the parts is greater than the whole”. The solution/recommendation would not have resulted without full participation by all the advisors in the discussion;
    • All comments are focused strictly on the business and CEO;
    • Meeting dynamics are managed so that no advisor dominates;
    • Communication flows freely between and at meetings;
    • There is a mutual respect for all thoughts and opinions;
    • Advisors enjoy and appreciate the company of each other;
    • Acknowledgement by the advisors of the intangible and tangible benefits received by serving (i.e. new business or referrals);
    • Each participant's roles and responsibilities are clearly delineated;
    • CEO is open to constructive criticism.

    Working on a successful advisory board with a group of people you admire and respect is one of the greatest rewards.  Shared thought leadership that gives you nuggets to take back to your own business can be invaluable.

    Login to comment.

  1. Categories

    1. BoardProspects Features:

      BoardBlogs, BoardKnowledge, BoardMoves, BoardNews, BoardProspects Announcements, BoardProspects CEO, CEO Blog, In the News, Partner Publications, Sponsored Content
  2. Topics Mentioned

  3. Authors