3 Things – Selecting Advisory Board Members

3 Things – Selecting Advisory Board Members

Discover 3 things you should know about Selecting Advisory Board Members. In the video Jim Wilkinson, President and founder of The Strategic CFO discusses 3 useful tips you should know about selecting members for an Advisory Board.

Selecting Advisory Board Members

Watch the following video to learn about selecting advisory board members.

1. Do Not Add More Board Members You Are Willing To Impress

You must be able to share mistakes and shortcomings. Adding board members that you want to impress is counterintuitive. The purpose of the Advisory Board is to help and guide – not affirm and praise.

2. Pick Board Members With Unique Talents

Pick board members that have unique talents that are different from your own. For example, if you are strong in accounting and not in sales, consider selecting a member that is strong in sales. Also, consider picking board members that have been there, done that. Another option is having a former customer on your board to provide a different perspective.

3. Do Not Be Afraid To Swap Out Board Members

Unfortunately, not everyone is going to contribute equally. Some members are simply going to be “duds”. Do not be afraid to swap out that member for another that will be more valuable to you.

If you want to learn about financial leadership, then click below to learn about the SCFO Lab.

Selecting Advisory Board Members

ARTICLES YOU MIGHT LIKE

Does your Accounting Department Produce Net Income?

Coaching the Entrepreneur: Learn how to know what you don’t know. How much should I spend on accounting for my company?     I have been in the accounting profession for 32 years, and for the last 6 years, I’ve owned my own consulting firm to assist companies with accounting challenges. There is one common theme that I

Read More »

Is Mexico the New China?

In the wake of the COVID-19 pandemic and escalating tensions with China, American companies are actively seeking alternatives to mitigate their supply chain risks and reduce dependence on Chinese manufacturing. Nearshoring, the process of relocating operations closer to home, has emerged as an explosive opportunity for American and Mexican companies to collaborate like never before.

Read More »

The Accounting Gap Between Large and Small Companies

The Accounting Gap: It’s unfortunate, but true. A large gap exists between the accounting departments of large or publicly traded companies and smaller or private companies. In our past 25 years of consulting we’ve noticed that more often than not, these smaller/private companies will fill the gap with Bookkeepers, rather than the degreed Accountants/CPAs they

Read More »

JOIN OUR NEXT SERIES

Financial Leadership Workshop

MARCH 28TH-31ST 2022

THE ART OF THE CFO®

Financial Leadership Workshop

Days
Hours
Min

August 7-10th, 2023

SHARE THIS ARTICLE
WIKI CFO® - Browse hundreds of articles
Skip to content