Dave Steitz with Steitz Partners discusses forming advisory boards for entrepreneurs. He also discusses the compensation of advisory boards and management of the advisory board meeting. An advisory board is one of the most powerful tools an entrepreneur can implement to spur growth and profitability!
The advisory board is meant to be a support or advocate for the company’s leadership. They are also meant to be a resource for the President or CFO. Some of the advantages include providing diversity of perspective that would not be present inside the organization. When forming advisory boards, understand your expectations of the advisory board.