Getting An Advisory Board Up & Running

If there was a centralized database of experienced, qualified business people willing and eager to serve on advisory boards would you use it?

Rick Spence and Ajmer Mehmi say you would and are working on a proposal to create such a database. In Tips on getting board up and running, (Rick Spence, Financial Post), Rick explains that research on advisory boards "affirms they are an indispensable tool for businesses to become more effective, professional and resilient" - but that there doesn't seem to be much information on or help for entrepreneurs to set one up.

Now I'm written a series of articles about advisory boards that will help you get an advisory board up and running:

• How to Harness the Power of an Advisory Board
• How to Persuade People to Serve on Your Advisory Board
• Sample Advisory Board Invitation Letter
• Agenda for Your First Advisory Board Meeting

But the central problem that Rick is writing about remains; how do you get the people (not just any old people but the people with the right skills and experience) to serve on your advisory board?

In the research Rick and Ajmer conducted, "nearly 88% of business leaders rated industry experience, reputation and a track record in entrepreneurship as "extremely important" qualities. Superior business knowledge, a history of success in big business, personal relationships and personality were key attributes for 83% of them."

If you already know five or six such people that might be willing to serve on your advisory board, that's great. But for the rest of us, a centralized database such as Rick is talking about creating would be a big help. In the meantime, his Tips on getting (an advisory) board up and running and my articles that I linked above will provide a how-to blueprint.

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