You’ve made the decision to form an advisory board. You know enlisting family and friends is not a good idea despite their best intentions. So just where and how do you locate advisors? Here are some suggestions on how to identify prospective advisors:
- Look to the organizations you volunteer with and the people you serve with (i.e. nonprofit boards, Little League etc.).
- Who have you dealt with lately that left you with a good impression.
- Former customers, vendors, and clients, but only if you think you will not do business again. It is not a good idea to share the confidential details of your business with clients, vendors, or customers.
- Professional service firms (attorneys, CPAs, consultants). Sometimes these firms maintain a list they may be willing to share.
- Family and friends, not to serve but to suggest their colleagues who might be appropriate.
- Other CEOs with advisory boards.
Your search will only be effective if you know what you are looking for. Selecting the appropriate advisors is similar to hiring key senior executives. You will need to do the up front work to identify what skills and talents are most needed by your organization. I will cover what this entails in a separate post.
Look for the Advisory Board Kit, A Comprehensive Guide to Establishing an Advisory Board, to be published in December. Please check the site in the coming weeks for order information and related teleclass information.
Good ideas for finding advisory board members, what about members of networking groups, chamber boards for suggesting colleagues?
Reiko,
Thank you for the additional suggestion. Chamber boards can be an ideal place to find advisors. You have the added benefit of seeing a prospective advisor in action before asking them to serve.