It will require a Village to Run a successful Enterprise - Never Go it By itself

"Alone, we will do so very little; together, we will do so significantly."~ Helen Keller

Satisfy Your Board of Advisors

Envision a bunch of men and women that exist to bounce company thoughts off of, that will help you make pivotal enterprise conclusions, also to serve as being a sounding board. Major companies possess a Board of Directors. Non-profits have a Board of Trustees. Why can not the solopreneur or compact small business operator too? You are able to! How? By creating a Board of Advisors to your small business. You've got heard of Mastermind teams, by means of which like-minded peers share suggestions and support every single other's organization endeavors? A Board of Advisors is analogous, but commonly is made up of individuals from outside your business, even consumers.

Putting the best Balance

I'm a licensed Professional Organizer, Business enterprise & Life Coach and Motivational Speaker. I've been in enterprise for seven years, am structured to be a Limited Liability Company, and consider myself a solopreneur, in that I have no employees working for me. My Board of Advisors consists of an individual with a marketing background, an individual with a publishing background, two other effective specialist organizers with a very different company model and focus than mine, two long-time clients, and my very supportive, objective husband. A good number to strive for is 5-8 members. Be careful not to include anyone on your Board of Advisors that pushes your buttons, saps your energy, or is competitive. In addition, try not to surround yourself only with "yes" men and women who nod approvingly at everything you do, and never challenge you or hold you accountable. You want members that challenge you to stretch your entrepreneurial muscles.

Do not confuse your Board of Advisors with your official team of advisors. Your team of advisors is typically made up of individuals that you retain to assist you with certain aspects of your company operations, such like a lawyer, accountant, graphic designer, webmaster, etc. These are paid professionals that you hire to provide services to your company, as opposed to an individual that is voluntarily providing assistance to you and your business. Yet another category of men and women that may provide assistance to your small business are what I call power partners. These are vendors that you refer your consumers to, or that you partner with on a project basis. Again, these partners are extremely valuable to a modest business, but do not serve being a Board of Advisors.

What Does a Board of Advisors Do?

What can your Board of Advisors make it easier to with? Everything and anything. A Board of Advisors can push you when you need a nudge, lift you up when you lose focus or faith, and assist to keep you on track. Mine assisted me with the re-branding of my company last year, including the design of a new logo, organization card, brochure, and website. Yes, I used a graphic designer and web designer to actually create the promotional materials, but it was my Board of Advisors that helped me to capture the overall vision and message I wanted to achieve. A Board of Advisors can act for a sounding board for the future launch of programs. When I was creating my signature approach to organizing, DECIDE(TM), my Board of Advisors provided invaluable feedback. You could also use your Board for market research. These days, we use a plethora of resources obtainable online, including social media sites, such as Twitter and Facebook, survey tools such as Survey Monkey, as well as forums provided by professional associations (for example, being a member of the National Association of Professional Organizers, I have access to the NAPO Chat, which is an invaluable resource). All of these are fantastic resources, and provide a relevant purpose to a little organization. But, there is something magical about a consistent group of people that can go deep with you, gets to know your enterprise intimately, and is vested in some way in your success.

What Are The Rules That Govern a Board of Advisors?

When I recommend to a little business client that he or she create a Board of Advisors, invariably the client will ask me what the rules are that govern this type of relationship. It is entirely up to you and your Board of Advisors. Communication is key, so think about how you will communicate with your Board members. Do you hold in-person Board meetings, or communicate virtually? Should you develop a special online membership forum or website to communicate? I communicate with members of my Board of Advisors in numerous ways -- by email, telephone and in person, as some are local. I have never convened a full Board meeting, although that may be in my future plans.

What are the benefits to your Board members?

Some just want to be a part of a growing, profitable company. Others may want tangible benefits, such as the ability to take your workshops for free, or buy products at a discount. Ask what they want in return. Find a way to acknowledge or reward the members of your Board of Advisors to let them know they are an asset to your enterprise. On the flip side, if you are asked to provide on a Board of Advisors, take the request seriously. I recently had to turn down an invitation because I knew I could not actively participate at that time. I appreciated the offer and confidence in my feedback, but passed it onto someone else that was a better match.

Take your time putting with each other a great complementary Board of Advisors and experience the positive affect it will have on your business. Now, go forth and create your village!