1. Ten Factors Contributing to a Successful Advisory Board By: Susan Hammond

    Ten Factors Contributing to a Successful Advisory Board By: Susan Hammond


    Why are some advisory boards successful while others are not?  In my years of participation in and facilitation of advisory boards I have observed the following ten factors present:

    • The environment fosters synergies between the advisors' and CEO's thinking;
    • Recognizing that “the sum of the parts is greater than the whole”. The solution/recommendation would not have resulted without full participation by all the advisors in the discussion;
    • All comments are focused strictly on the business and CEO;
    • Meeting dynamics are managed so that no advisor dominates;
    • Communication flows freely between and at meetings;
    • There is a mutual respect for all thoughts and opinions;
    • Advisors enjoy and appreciate the company of each other;
    • Acknowledgement by the advisors of the intangible and tangible benefits received by serving (i.e. new business or referrals);
    • Each participant's roles and responsibilities are clearly delineated;
    • CEO is open to constructive criticism.

    Working on a successful advisory board with a group of people you admire and respect is one of the greatest rewards.  Shared thought leadership that gives you nuggets to take back to your own business can be invaluable.

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