Do you have an advisory board?

One of the biggest lessons I have had in the workplace was when I worked as a PA to the owner of a national courier company.  I was in my 30's but still with an attitude of a girl in her 20's and when I went for the interview, I didn't really want the job.  I'd been sent by a recruiter and we all know it's a good idea to keep them happy, so I obliged, but showed up with a nonchalant attitude.  The offices were nice enough, but there were only 3 people in the office - an accountant, a bookkeeper and the owner - this was going to be boooooring!

I went through the interview, asked for more money than I had ever asked for before and walked out with a swagger, never expecting to have to go back there again.

But of course we all know what happens when we don't care - we get the thing!  So yes, I got the job and as it was such good money, I accepted it and started the following week.  It was okay, boring as I suspected, and I did build it into something awesome which I'll go into another time.  But for today's story, I want to share how this business owner kept himself accountable, and the rest of us engaged.

He employed a Board of Directors.

Once a month a group of people would come in for the Board meeting.  I would have to prepare the papers and John would run the meeting, just like you would if there really was a Board that the CEO was accountable to.  Even though he was the sole owner and had no obligation to do so.

This lesson has stuck with me all these years Sally because I saw what a difference it made to his business.  Here's a few benefits I observed...

1. He reviewed the business on a regular and consistent basis
2. He received advice from a broad range of industries and people
3. His Board challenged his decisions and made him justify outcomes
4. He couldn't hide impulsive decisions
5. He was setting the business up in readiness to move on

Now, that last one I didn't realise at the time of course, none of them at the time actually, but I see now what he was doing, and it was clever. 

I've recently engaged my first Board* member because I want to be accountable too.  I need someone to challenge my ideas, ask me to justify decisions I've made and help set me up to grow my business.  It feels really scary and I actually have a negative physical response to this arrangement, but that's why I think it's the right thing to do.

For me it's just having someone ask me if I really need that subscription, or if I really need to go to that conference in New Zealand (yes I do).  But I also want them to encourage me to look for a broader perspective, get me to think outside the box and to help me look at the business from a different angle. 

They're not a business coach, more of an advisor, and I guess the start of my Advisory Board*.  It feels good to take this next step.

In the 8 Week Event Plan we act as your Advisory Board*.  You get to share your ideas and get feedback, talk about financials if you want and if you ask anyone who's done the program yes, I will absolutely challenge you.  I will make sure you set up your event for maximum efficiency, and at its core, operational excellence.  

* When I reference Board and Advisory Board, these are purely ficticious.  I've had many people reach in relation to the legal ramifications of an official Board, so if you want to do this too, maybe get some advice on the structeure to ensure you don't set yourself up for more work (or trouble).