Business Transition Consultancy
I regularly perform work for businesses to help them transition their business model. This is most often in relation to IT businesses but the same principles apply to a range of different businesses. Let me know if you would like my assistance by sending me an e-mail.
Advisory Board Concept
The Advisory Board concept is gaining momentum. I have been involved in creating and running Advisory Boards for organisations and I am a firm believer in the value of an Advisory Board.
What is an Advisory Board?
An Advisory Board is a high-return, high-profile forum that can heavily influence your company’s competitive standing. The concept provides a powerful format that provides executives with the information needed to align outcomes with strategy. At its heart, an Advisory Board has a select group of independent people who provide advice to the executives (owner/s or senior management or directors) of a business.
The advice is typically strategic but can relate to specific areas. Most importantly the advice is non-binding which results in a relatively informal format. This gives flexibility in how the board is structured and managed and each organisation designs their own model.
An Advisory Board is not regulated under the Corporations Act 2001 or corporate governance codes. An Advisory board gives advice only.
Why establish an Advisory Board?
Every organisation is looking for an edge in the market. Creating an Advisory Board is a significant way to improve the ongoing operation of your organisation whilst also receiving direct feedback.
There are many external people who want your organisation to be successful. Suppliers want your organisation to be the best it can be – they not only want to partner with successful organisations but they want to sell more of their product. Clients want to deal with a professional market leader. Professional advisers (such as accountants and advertising executives) want your business to be successful. An Advisory Board sends a strong message that you are progressive and want to listen to feedback and continually improve. Involving key vendors and clients in assessing and improving your business is logical and will deliver tangible results.
An Advisory Board delivers an independent confidential forum to discuss issues of major significance to your organisation.
Advisory Board Overview
If you are interested in more information, read my Advisory Board Overview document which gives an overview and also outlines what I can help you with in relation to an Advisory Board for your organisation.