Working in the same business for a long time might lead to narrowing down the top managers’ views over improvements and opportunities. One of the best ways to keep the business ahead of its market is to bring in a strong board of advisors. They are usually a group of hand-selected professionals with solid business background, whose primary role is to help the company’s leaders clear the air when it comes to strategic decisions.
Having a board of advisors can help get the business to the next level as:
• The members of the board are objective and unbiased; therefore, they could be great for pointing out the blind spots and also be more creative in finding solutions to solve them.
• They are seasoned experts, have a great knowledge base, and are willing to share their experience and lessons learned. This saves precious time for the learning curve of the company’s managers.
• Choosing advisors that are ahead of you and have already achieved what you are trying to, means that you can learn a great deal from both their successes and their mistakes.
Unlike a board of directors, the advisory board has an informal nature and offers non-binding advice, adding value and strength to the business at greater flexibility.
See here who are the members of Stein & Partner’s Advisory Board: https://steinandpartner.com/board-members/.