Advisory Board Company | How can an Advisory Board help my company manage growing pains?
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How can an Advisory Board help my company manage growing pains?

All businesses go through ups and downs. They have great years and not so great years. They have successful marketing campaigns and others that fall short. That’s just the nature of business. Growing pains are a huge part of the ups and downs that organizations can have. They happen when a business begins to expand and increase staff, offices, and more, but the business and its managers have not yet adjusted for these changes.

How can a Consultant Help?

Expert Advice

A board of advisors can give insight into issues that may not be in the wheelhouse of the senior management at the company. Just because a manager is a strong leader, does not mean that he knows the minute details of law, for example. That is why an attorney on an advisory board could be of great help.

Give Back More Hours in the Day

Rather than spending time trying to solve problems or figure out issues that are just way outside of their expertise, a CEO or manager can call upon an advisor for help. For example, the lawyer on the board can quickly explain legal issues.

Put Out Fires

If a manager spends all day attempting to get the computer system back up and running then they are really wasting valuable time. They weren’t hired to work on the IT issues at the company. An advisor from the tech industry could help here.

Create a Clear Path for the Business & Help Improve Follow-Up

An advisory board can help set goals for the business to work toward. There is accountability in the sense that at the next meeting, they will be interested to know what has come of their plans. Were their suggestions put in place? How are they working?

Place Importance on Structured Meetings

Meetings are essential to the properly run business. People must be talking to other people. Management must be discussing issues with employees. These things have to happen. However, many people think that they are waste of time. When they already have no time in their day, they have no interest in sitting through a meeting. If an advisory board is in place, meetings become expected and so must take place. This provides the much needed analysis of the steps being taken to ensure pitfalls are avoided.

Help You Grow

This is essential, of course, to moving through growing pains. The best way to get advisors to help a business grow is to ask for their opinions and truly evaluate their advice.

 

If an advisory board is to help a business to get through growing pains, there must be a great deal of mutual respect. The advisors must feel acknowledged and the business managers need to feel understood. The CEO and senior managers need to walk into advisory board meetings open to brainstorming, discussing and hearing new and fresh ideas. With this in place, an advisory board can assist a new business in working through their growing pains, to grow into a mature successful business.