In my last post I discussed how to orient your advisors.  One of the points I made was the need for a briefing book.  A briefing book contains information an advisor may refer to frequently.  While some if not all of this information might have previously been provided, the briefing book puts it all in one place.

I recommend a three-ring binder that is large enough to handle additional information you may distribute at future meetings.  In assembling the briefing book consider including the following information:

1. Advisor contact information, both work and home
2. Advisor biographies
3. List of company officers and senior management with contact information, home and work
4. Organizational chart, so the advisors can begin to understand how all the pieces fit together
5. Brief company history
6. Three years of Financial Statements
7. Current Year Budget
   
8. Current Marketing and/or Promotional Plan
9. Strategic Plan, if available
10. Key Customer List, marked confidential
11. Top 10 Competitors with industry ranking, if available.
12. Your product/service offerings. Don’t assume the advisor knows them all.
13. Links to industry websites and other educational material
14. Copy of signed Statement of Roles & Responsibilities
15. Schedule of meetings & calls for the ensuing eleven-month

Note that the briefing book does not contain meeting minutes.  An advisory board doesn’t have minutes.  If anything there are meeting notes which only the CEO should have.

As the advisory board moves forward the above information will be added to and updated.  At the very first meeting of the advisory board the briefing book should be reviewed with the advisors so they understand the content and its importance.  It’s important to remember that newer members will need the most help coming up to speed. So periodically review what should be the contents of the briefing book with all the advisors.

Interested in establishing an advisory board? Find out what you need to do, purchase the Advisory Board Kit:  A Comprehensive Guide to Establishing an Advisory Board. You can have your advisory board up and running in 90-120 days if you follow the steps laid out in the Advisory Board Kit.

The Graduate Management Admissions Council is looking to re-design management education and it wants you to make suggestions.  From their press release:

“GMAC is inviting anyone to submit three paragraphs that answer this question: What one idea would improve graduate management education? The GMAC Management Education for Tomorrow (MET) Fund will award a total of US$250,000 in prizes to 15 people whose ideas rise to the top, with the most promising proposal taking home US$50,000.”

Have you often thought of ways to better educate new managers?  Do you wish for changes in the MBA curriculum so the managers you hire are better prepared to deal with the issues you face? Here is your opportunity to give input into what the soon to be minted MBA’s learn.  If you do have a few thoughts, please share them with us.