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PKF Texas – The Entrepreneur’s Playbook: Advisory Boards

by | Mar 2, 2007 | PKF Texas - The Entrepreneur's Playbook®

Note: Running most Fridays in FromGregsHead.comis a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur’s Playbook page of the PKF Texas website.

This tip is brought to you by Susan Ward of Cypress Technologies and PKF Texas.

Do you have an advisory board for your business? 

Some think advisory boards are only for large, or public companies. There are many advantages for companies of all sizes to have a board.

Your advisory board will serve as a sounding board, a source of ideas and expertise – to give you honest advice. Approach retired executives, or influential people in your community to serve on your board.

The board should meet on a regular basis, usually quarterly. Also, be prepared to be completely open with your board. They cannot function and advise properly if information is held back.

An advisory board that meets regularly gets to know you and your business. They can provide the management expertise to avoid common business mistakes and set your business up for success.

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