It takes a Village to Run a prosperous Enterprise - You should not Go it By itself

"Alone, we can easily achieve this small; with each other, we could do this a great deal."~ Helen Keller

Satisfy Your Board of Advisors

Think about a gaggle of folks that are available to bounce enterprise suggestions off of, to assist you make pivotal small business decisions, and to serve as a sounding board. Main businesses have a very Board of Administrators. Non-profits possess a Board of Trustees. Why cannot the solopreneur or smaller small business owner far too? It is possible to! How? By acquiring a Board of Advisors for your personal small business. You have read of Mastermind groups, by means of which like-minded peers share concepts and aid every single other's business endeavors? A Board of Advisors is comparable, but generally is composed of individuals from outside your industry, even clientele.

Putting the ideal Stability

I am a certified Expert Organizer, Small business & Life Coach and Motivational Speaker. I've been in small business for seven years, am structured to be a Limited Liability Company, and consider myself a solopreneur, in that I have no employees working for me. My Board of Advisors consists of an individual with a marketing background, an individual with a publishing background, two other successful expert organizers with a very different company model and focus than mine, two long-time shoppers, and my very supportive, objective husband. A good number to strive for is 5-8 members. Be careful not to include anyone on your Board of Advisors that pushes your buttons, saps your energy, or is competitive. In addition, try not to surround yourself only with "yes" men and women who nod approvingly at everything you do, and never challenge you or hold you accountable. You want members that challenge you to stretch your entrepreneurial muscles.

Do not confuse your Board of Advisors with your official team of advisors. Your team of advisors is usually made up of folks that you retain to assist you with certain aspects of your company operations, such being a lawyer, accountant, graphic designer, webmaster, etc. These are paid professionals that you hire to provide services to your company, as opposed to an individual that is voluntarily providing assistance to you and your small business. Yet another category of individuals that may provide assistance to your enterprise are what I call power partners. These are vendors that you refer your purchasers to, or that you partner with on a project basis. Again, these partners are extremely valuable to a little small business, but do not serve to be a Board of Advisors.

What Does a Board of Advisors Do?

What can your Board of Advisors allow you to with? Everything and anything. A Board of Advisors can push you when you need a nudge, lift you up when you lose focus or faith, and assistance to keep you on track. Mine assisted me with the re-branding of my company last year, including the design of a new logo, enterprise card, brochure, and website. Yes, I used a graphic designer and web designer to actually create the promotional materials, but it was my Board of Advisors that helped me to capture the overall vision and message I wanted to achieve. A Board of Advisors can act being a sounding board for the future launch of programs. When I was creating my signature approach to organizing, DECIDE(TM), my Board of Advisors provided invaluable feedback. It is possible to also use your Board for market research. These days, we use a plethora of resources readily available online, including social media sites, such as Twitter and Facebook, survey tools such as Survey Monkey, as well as forums provided by qualified associations (for example, for a member of the National Association of Specialist Organizers, I have access to the NAPO Chat, which is an invaluable resource). All of these are fantastic resources, and serve a relevant purpose to a smaller business. But, there is something magical about a consistent group of men and women that can go deep with you, gets to know your enterprise intimately, and is vested in some way in your success.

What Are The Rules That Govern a Board of Advisors?

When I recommend to a smaller organization client that he or she create a Board of Advisors, invariably the client will ask me what the rules are that govern this type of relationship. It is entirely up to you and your Board of Advisors. Communication is key, so think about how you will communicate with your Board members. Do you hold in-person Board meetings, or communicate virtually? Should you develop a special online membership forum or website to communicate? I communicate with members of my Board of Advisors in numerous ways -- by email, telephone and in person, as some are local. I have never convened a full Board meeting, although that may be in my future plans.

What are the benefits to your Board members?

Some just want to be a part of a growing, prosperous enterprise. Others may want tangible benefits, such as the ability to take your workshops for free, or buy products at a discount. Ask what they want in return. Find a way to acknowledge or reward the members of your Board of Advisors to let them know they are an asset to your business. On the flip side, if you are asked to provide on a Board of Advisors, take the request seriously. I recently had to turn down an invitation because I knew I could not actively participate at that time. I appreciated the offer and confidence in my feedback, but passed it onto someone else that was a better match.

Take your time putting with each other a great complementary Board of Advisors and experience the positive affect it will have on your online business. Now, go forth and create your village!