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A recent article in Entrepreneur focuses on Advisory Boards.

8 Steps to Creating an Effective Advisory Board by Jesse Torres http://www.entrepreneur.com/article/234655 clearly explains an effective way of creating and managing an Advisory Board. How many in the Proformative Community either have an Advisory Board or are/have been a member of one? What was your feeling on its success for the business and you yourself?

Answers

Edward Thill
Title: VP - Finance & Operations
Company: Performance Trust
(VP - Finance & Operations, Performance Trust) |

We have used an advisory board for several years and feel it is a true asset. We have been fortunate to attract a diverse mix of academics, entrepreneurs and seasoned business folks within our group of 6 and each is a valuable contributor. A key driver for success is the mutual respect of all members - the respect to listen to each other and to contribute to the team. Ownership welcomes/encourages honest debate which energizes the room. Meetings are quarterly with agenda, financials and other relevant information provided and reviewed in advance so that the meeting can be immediately productive and everyone's time is respected.

It probably goes without saying but the value of an advisory board is wholly dependent on the quality of the advice and challenges members are willing to provide and the willingness of ownership/management to objectively consider them.

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