EP 83: Building High Performance Advisory Boards
Advisory boards are recruited to help leaders make high-quality decisions and expand influence. They are useful mechanisms in resource-constrained environments and hence popular at startups and not-for-profits.
I serve on numerous advisory boards. And while these roles are different to company directorships where I manage fiduciary responsibilities with my board member colleagues, I enjoy both styles of engagement.
I formed my first advisory board nearly 15 years ago. The key reflection from that first one, those I have formed since and through serving on advisory boards today is that the formation step is only a small part of the journey. The underlying routines and rituals that generate value from the advisory board is the main game.
Founders contemplating the establishment of an advisory board will nod in conceptual agreement. It’s these same founders who 12 months later lament how disappointed they are with the group they brought together.
The recruitment and formation of members to their advisory board might have felt like the assembly of a grand coalition of the willing. A formidable team destined to achieve greatness. But something went wrong along the way. Greatnesses is still a long way off. Advisory board members seem disinterested or hard to reach and the founder feels like a significant piece of their armour is missing.
This is not a new issue.
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