Your Own Advisory Board

Entrepreneurs, business owners and others who work for themselves enjoy the autonomy that comes with independence but know that there is a downside—feeling alone.

People in transition who are considering starting their own businesses also worry about the isolation that might come with being a freelancer or independent contractor. Often they’ve had enough of the sort of being-on-your-own that comes with looking for work or are afraid that if they were self-employed they would miss the stimulation of working with others.

Both groups speak of the need to have someone to brainstorm or problem-solve with, or just to talk about their business with over coffee. They may prefer not to answer to a higher authority or deal with office politics, but they instinctively know that being challenged now and then keeps them on point and that the expertise of others, particular in business disciplines they are not strong in, can help them achieve their goals.

Responsibility for your own business, or even your professional life, includes knowing when you need positive reinforcement and when you need to make yourself accountable to someone other than yourself.

This is the entrepreneurial dilemma—how to keep covering all the bases and grow your business when you’re out of ideas and either don’t know where to turn for help or can’t afford to pay for it.

One answer is a group of people in clearly defined advisory roles you consult with periodically—in other words, your own personal advisory board.

A few months ago I was asked to be of service in this way by the president of a communication training business. He wanted an hour and a half of my time for a brainstorming session. Here’s how it came about:

• He sent a one page summary of his company’s current positioning and samples of their marketing materials to the people who agreed to serve as his advisers.
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• He convened a meeting with himself, his right-hand thought leader and three “outsiders.” Because his advisers were chosen based on their history of connection to the company as well as their business expertise, the staff felt safe in openly talking about their challenges.
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• We met in the company conference room (though a quiet table at a restaurant or even a Starbucks would have worked as well).
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• We were asked to talk about one goal—how to sharpen their marketing message to draw attention to their booth at a trade show. This made sure that the discussion stayed on track and our suggestions were both practical and immediately applicable. The targeted focus was smart because we couldn’t have addressed a larger question such as, “How do we generate more business?” within the time frame allowed.
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• The president and his staff listened receptively, even to things it was hard for them to hear, and expressed their appreciation for fresh perspectives. They ended the session on time and sent thank-you notes.
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It was such a good experience for me as a participant that I decided to circle back to the company later to see how it had worked out for them.

They told me that before the meeting they had felt that they were “stuck in their own heads” and “spinning their wheels” because the marketing direction they were following was not directly linked to who they are or what they were trying to accomplish.

Just the act of preparing for the meeting had given them more clarity, and afterward they felt they had a better idea where to dig in to strengthen their value proposition. They also felt “buoyed” by the experience, as if the favorable breeze of the advisers’ affirmations had filled their sails.

If you are out there in the business world on your own you deserve the rejuvenating presence of new voices at the table every once in awhile.

Responsibility for your own business, or even your professional life, includes knowing when you need positive reinforcement and when you need to make yourself accountable to someone other than yourself.

It’s powerful act of leadership to ask for help.