Blog

May02

Why You Need an Advisory Board in Your Business

Who do you turn to when you need help in your business?

Do you have an advisory board for your business? With the 12 businesses I’ve owned over the last 25 years, I’ve always had an advisory board.

Here’s how it works:

My advisory board consists of a handful of people who have nothing to do with the industries I work within and nothing to do with the companies I’ve owned.

Every 3 months we meet for half a day and each of us will present an issue we are having within our business. It can be a great issue we are experiencing or something really troubling.

At the end of each presentation other board members share experiences relative to that issue – not advice, only experiences. We finish the meetings with the things we’d all like to be held accountable for so that other board members can ask about it in the next advisory board meeting.

In the last 25 years this in one of the key influences that has helped keep me on track both personally and professionally.

 

About Troy Hazard: I am the founder/owner of 12 businesses over the last 25 years, current CEO of Troy Hazard International, author of the book Future-Proofing Your Business, and the former Global President of the Entrepreneurs’ Organization. I have been a franchisee twice and a franchisor while consulting with over 300 brands in 6 countries. You can find me on Twitter @TroyHazard. You can book me to speak at your event by contacting us or calling 214-536-6666.