INCREASE PRODUCTIVITY BY ENLISTING AN ADVISORY BOARD

How an Advisory Board Could Greatly Benefit Your Business or Product

If you have ever released a new product or started a new business, then you already understand that getting a variety of different opinions is vital to its success. An advisory board is just that! It gathers all of those different opinions in one streamlined and professional environment.

If you’re thinking of expanding your business or looking at releasing a new service or product attached to your current business, then you need to know if you’re idea has any potential. You could conduct research, interview other people, gather opinions, or seek out professional advice from a variety of different business people and entrepreneurs, but it takes a lot of time. An advisory board is a great way to get the information you need, without having to organize and coordinate a variety of different people.

An advisory board could be made up of a variety of different people, all bringing specific skills and opinions to the table. Your advisory board could supply you with insight into current and potential future market trends, evaluate your current business practices and establish where your business stands, make introductions to clients, consumers, manufacturers and suppliers, facilitate any funding or financing requirements, and also suggest where you could amalgamate with other businesses in a similar position.

If your business is going well, but you’re looking to expand current operations, then the best way to take a fast step forward is with a professional advisory board. Trying to gather all of this information from separate sources and locations can be quite time-consuming, but an advisory board will help you avoid all of these hassles. Look for professionals who are suited to your industry and business, this way they will already have an intimate understanding of what you’re searching for. It may seem expensive in the beginning, but the benefits of achieving everything much sooner will be well worth it.

Things to consider:

#1- Business Objectives

5. Preparation: Respect Time

#2- Who to Choose

#3- Expectations

  • Honesty
  • Feedback
  • Keep Informed

#4- Compensation

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#5-Preparation

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#6- Don's be afraid to fire

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Summary


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About the Author My Banker Jermain

Jermain Pettis is a trusted commercial banker with close to two decades of banking industry experience. Jermain leverages extensive financial solution knowledge, diverse banking experience and a customer-centric approach for first-class financial advisement to his clients and prospects across multiple industries in and around the State of Georgia.

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