Monday, March 02, 2009

How To: Assemble A Board of Advisers - business guidance - recruiting advisers

Today is the third anniversary of the opening of this eponymous blog on March 2, 2006, as an augmentation to GloriaFerris.net and to save a long-standing marital relationship. Perhaps now it--the blog, that is--needs a board of advisors. See what Inc. has to say about all that:

An advisory board is a rare species in the small-business ecology, yet assembling such a board may be one of the most important steps a CEO can take to assure an enterprise's success. Besides offering credibility and contacts, advisers working together provide guidance sharpened by boardroom debate, something individual mentors can't match . . .. For family businesses, boards are invaluable, particularly when it comes to the delicate matter of succession. "A board has the willingness to bring the subject up, in a supportive and patient way," says John L. Ward, a professor at Northwestern University's Kellogg School of Management and author of Creating Effective Boards for Private Enterprises. "Then once it's on the table, it creates a forum of safety for the conversation."

Unlike a board of directors, which has formal legal authority over a company and a fiduciary duty to its shareholders, an advisory board won't make decisions for you and has no obligation to the owners or liability for the company's actions.

See more at the link below. There's some good value there:

How To: Assemble A Board of Advisers - business guidance - recruiting advisers

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