How To Build An Advisory Board To Grow Your Business And Increase Your Profits

By The Advisory Board Group

This book was written as a guide for small business owners and entrepreneurs on how to effectively build a strategic advisory board AND extract maximum value from it. Advisory boards are a proven and valuable resource for any business and if utilized correctly, can significantly help grow a business and its profits.

• Language: English
• Publisher: The Advisory Board Group
• Release date: Aug 25, 2011
• ISBN: 9781465878274

The Advisory Board Group

Serial entrepreneur. Investor.

Book preview

HOW TO BUILD AN ADVISORY BOARD TO GROW YOUR BUSINESS AND INCREASE YOUR PROFITS

Copyright 2011 by

The Advisory Board Group LLC

* * *

Published on Smashwords

* * *

SMASHWORDS EDITION

* * *

All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written permission of both the copyright owner and the above publisher of this book.

Smashwords Edition License Notes

This e-book is licensed for your personal enjoyment only. This e-book may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each person you share it with. If you're reading this book and did not purchase it, or it was not purchased for your use only, then you should return to wherever you bought it and purchase your own copy. Thank you for respecting the author's work.

* * *

HOW TO BUILD AN ADVISORY BOARD TO GROW YOUR BUSINESS AND INCREASE YOUR PROFITS

Table of Contents

I. Why Every Entrepreneur and Business Owner Should Read This Book…

1) Our Story

2) What’s In This Book

II. The Power of Many Minds

1) What Is an Advisory Board?

2) Does My Business Need One?

3) But… I’m Just a Startup.

4) But… I Just Have a Small Business

5) Real-Life Advisory Boards at Work

6) The Benefits of an Advisory Board For Your Business

III. THE BUILDING BLOCKS: 10 KEYS to Creating Your Unique Advisory Board

1) The Direction of Your Business

2) Your Boards Purpose

3) Forming Your Board’s Charter

4) Choosing Your Advisory Board Model

5) How Big or How Small?

6) The Brains You Should Bring On Board

7) Creating Structure & Expectations

8) Keep’em Coming and Going

9) How to Compensate?

10) The Invitation Letter

IV. My Board Is Set Up! Now What?

1) Agreements & Non-disclosures

a. Writing Effective Agenda

2) Appointing A Chairperson

3) Announcing The Board

a. Press Release

b. About US

4) Board Communication

5) The First Meeting

a. The Agenda

b. The Topics

V. Planning for Long Term Growth

1) Where To Find Advisors for My Business

2) Writing Persuasive Invitation Letters to Prospect Advisors

CONCLUSION

Chapter I

Why Every Entrepreneur and Business Owner Should Read This Book…

The BoardMyBiz Story

BoardMyBiz began as an idea in January 2009. I was beginning a career transition that would take more than one year to complete as I prepared my exit from my current company where I was a partner and director. I had been part of an entrepreneurs dream, taking an international start up company from three employees with under 500K in revenue, to more than 85 employees worldwide; more than 11 Million in revenue, and with offices in NY, Bermuda, London, Netherlands, Cyprus and Dubai. I accomplished this in less than three years, building the company with the founders from the ground up. Although this may seem like a tremendous achievement on its own, in truth, I was not satisfied with the results. From the beginning, there was friction between the primary founder and me over the strategic