Archive for January 2010
My colleague, Kathleen Burns Kingsbury, a wealth coach has written two recent blog posts that I recommend you read:
- 5 Books on Wealth and Money Psychology.
- 5 Tips for Fighting Fair Financially. If you have problems talking to your significant other, business partner or children, check out this post.
Kathleen and I share a commitment to helping people become more financially literate. I think you will find valuable information in both of these posts.
The earthquake last week in Haiti was and continues to be horrific. In the aftermath, some unsavory characters are thwarting the best efforts of people who want to donate money to support the rescue and rebuilding efforts.
The Better Business Bureau recommends checking to make sure your contribution goes to a legitimate organization. They have posted a list of the Charities Providing Haiti Earthquake Relief. Click on the link to view.
The Better Business Bureau also provided the following tips:
- Rely on expert opinion when it comes to evaluating a charity.
- Be wary of claims that 100 percent of donations will assist relief victims.
- Be cautious when giving online.
- Find out if the charity has an on-the-ground presence in the impacted areas.
- Find out if the charity is providing direct aid or raising money for other groups.
- Gifts of clothing, food or other in-kind donations are not yet needed. Cash is needed most to buy water, food and medical supplies.
You can go to a link on the Bettter Business Bureau site to research charities and relief organizations to verify that they are accredited by the BBB and meet the 20 Standards for Charity Accountability.
Give wisely.
How well you prepare to select your advisors will make or break your advisory board. It’s not a simple matter of selecting friends and colleagues, at least not if you want to have an effective advisory board and not waste time or money. It requires thought, honesty, analysis, and planning.
I have observed that many advisory boards get “slapped” together with insufficient thought and planning. The end result is people don’t show-up, money gets wasted and the company never starts its ascent toward greatness rather it wallows in mediocrity.
Answering the following questions will start you on your way to selecting advisors successfully.
- What does your company stand for?
- Why does your company exist?
- What is your company good at and known for?
- What do the markets you serve want and need?
What these four questions get at is the vision for your business. The people you ask to be your advisors will be very interested in this information.
- When was the last time you analyzed your business from the perspective of its strengths and weaknesses, opportunities and threats?
In the course of completing whats is known as a SWOT analysis, you will determine where the gaps are in skills and talent. This exercise requires that you and your senior management team, to the extent you have one, be honest with yourselves and each other.
Once you can answer these questions you will have the information you need to identify what type of advisors you need.
Want help with this and other exercises to build your advisory board? Consider the Advisory Board Kit, A Comprehensive Guide to Establishing an Advisory Board. Learn more by clicking here.



