Ensuring your board members are aligned with your goals and values and are the right fit will improve your chances of achieving growth. You can recruit Advisory Board members by reaching out to other members of the business community; however, the easiest way to get started is to contact us for a confidential discussion about your needs. We are the leading professional body for Advisory Boards in the world. We can easily connect you with independent Certified Chairs and board-ready Advisors through our complimentary Advisor Concierge service to create a best-practice Advisory Board that can assist you to solve problems and overcome challenges.
If you are looking for reports and insights on the state of the global advisory sector, frameworks and other information, visit our Research Reports page.
If you still have questions, our Frequently Asked Questions page is a goldmine of information which will answer other questions you may have.
Advisor Concierge The Advisor Concierge is the recommended source of independent education and facilitated connections for best practice in Advisory Boards. Need Advisory Board support? Ask the Advisor Concierge! Connecting Businesses and Advisors Let's Connect. Sign up to receive the latest advisory board sector news, research and executive programs Subscribe. An Advisory Board is a structured and collaborative method for organizations to engage with external advisors.
Advisory Boards act as a sounding board for either the owners, directors or shareholders of a company. Advisory Boards are useful in scaling businesses as well as larger entities like emerging corporates, multinationals, non-profits, academia and government. A well structured Advisory Board with best practice principles allows people in the organization to test their strategic thinking and access expertise or connections that may not be readily available via other means.
Advisory Boards can go by many different names and can depend on their purpose, scope or even country. Want to learn more about what really defines an Advisory Board?
Here are some additional resources:. The purpose of most Advisory Boards is to help the organization gain new insights and advice to solve business problems or explore new opportunities by stimulating robust, high-quality conversations. The role of an Advisory Board is not to make decisions, but rather to provide current knowledge, critical thinking and analysis to increase the confidence of the decision-makers who represent the company.
An Advisory Board is different to a governance board or board of directors. The specific roles, responsibilities and expectations are normally established within the Advisory Board Charter , alongside protocols within the Advisory Board structure. This is also the stage during which clear job descriptions for key management positions, including any special skill requirements and personal qualities, should be developed for the initial board tenure and up to five years in the future.
The variety of skills, knowledge and experience the board may require to effectively fulfil its roles include:. For example:. The selection and appointment of directors is one area where mistakes are often made in establishing advisory boards. A company should focus on the necessary and desirable competencies of board members.
This will ensure that the board can develop and evolve in line with business requirements. Do advisory boards have an impact on corporate governance — do they impose greater discipline, for example? And because advisory boards are unofficial i.
Advisory boards can be structured both to help with the direct operation of your company and to keep you informed on various business, legal and financial trends that may affect you and your business. Generally, you'll want a legal advisor, an accountant, a marketing expert, a human resources expert and perhaps a financial advisor.
You may also want successful entrepreneurs from other industries who understand the basics of business and will view your operation with a fresh eye. If you don't personally know people with those areas of expertise, don't be afraid to ask the most successful people you can find.
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