Advisory Boards- How, When and Why?

Advisory Boards- How, When and Why?

Advisory Boards. We know there's strength in numbers, but how to put that power to good use and not hurt anyone's feelings? This cafe is a place to discuss your experiences/practices with creating or running an effective advisory board for your business. Join in- leave your ideas or take one when you need one. We're in this together.

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  • Geesh, I look up and 7 people are in this group. Wonderful, except where's the chat?  So, I thought I'd post a question:

    What prevents you from creating the board you need now?

    For me it's been the notion that I need to have/understand the big picture of my business.  It feels like I'd be wasting a board's time until I have some solid footing.  Lately, I'm changing my mind, thinking maybe I could have a board that helps me create first.

    Do jump in and post your own question or answer this one.  Thanks. Dina


    __________________

    Dina Lynch Eisenberg

    Dina@thismarriagething.com

    CEO and Chief Yoomer, Charmed Life Cards

    Publisher, ThisMarriagething.com

    Marriage. Midlife. Design Your Best Life Now

    Wanna Follow Me?  @CuriousDina


  • Good question Dina-I have already started forming an "Hononorary Chair" committee for my 2009 summer show.  To your point, I don't have a solid idea of what they can do-I just know that when it comes to fundraising/productions, etc...some kind of committee is key.  I am focusing on assembling people and then I feel their contributions will come later.  I am picking LA based luminaries (as my events are in LA) who I feel are relevant to my cause & who have some connection to fashion.  For my purposes that make the most sense.


    Jennifer Bartok

    Celebrity Catwalk

    http://www.celebritycatwalk.com

  • Great question!  I agree with Jennifer... not sure what they would do.  Also, do we have to pay them?  I feel guilty taking their time.  Those are the factors that are stopping me...

  • I think honororary chairs/BOD members not only do not get paid if a charity is involved but many make monetary commitments!!!  I think their main purpose is to expand your reach, invite their "collegaues" who are hopefully people who you'd want to attend or be involved as well!


    Jennifer Bartok

    Celebrity Catwalk

    http://www.celebritycatwalk.com

  • There was a terrific article in the March or April issue of Fortune Small Business about building a board.  What the article suggested is that bod don't necessarily need to be paid large sums, but that a small gift/fee is in order.  I sit on a non-profit board now and my fee is a gourmet lunch twice a year- very enjoyable.

    As I think more about an advisory board, I want women and men who are in my niche, baby boomers, and also have subject matter expertise like law, marketing, biz development, manufacturing to guide me.  I assume, perhaps wrongly, that they will see value in helping me because they will ultimately help themselves and because they feel the need to give back, as I do.

    Jennifer, you're right about how NP board work.  It's either time or money but most organizations want BOTH!

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