Carol Bartlett is a senior level executive with broad experience in the oil & gas and transportation industries who manages more than $200M in annual sales. Using a combination of proven techniques, Ms. Bartlett focuses on growth results. She bridges theoretical business principles and philosophies to strategic actions that give profitable results. By deploying integrated proven strategies, she adds value to companies that want to grow sales and increase profits.

Jol Hunter has spent a large portion of his career as a partner with the national firm of chartered accountants and business advisors. In the past few years, with three other gentlemen, he has owned a substantial Atlantic Canadian business and so he is experiencing the joys and challenges of the ownership and operation of a medium-sized business.

Chris Spurvey spearheaded the growth of Plato Consulting to the point that it was acquired by KPMG, one of the largest management consulting firms in the world. In his time there, he sold more than $300 million in consulting services. After the acquisition, Chris changed his focus to helping other "non-sales sellers" find a way to grow revenue in a consistent, stress-free manner. He published It's Time to Sell: Cultivating the Sales Mindset, founded Make Sales a Habit University, and became a growth advisor to business owners and their management teams throughout the world.

 

This week on the podcast, we talk about how advisory boards can help get you further in business and in life, as well as what being a member of an advisory board is like. We also give some tips on how to choose the right people for your advisory board and how to get the most out of your time with your advisory board.

Make sure to check it out!

 

Choosing People for Your Advisory Board

As a business owner, I may look at a potential member of my advisory board and ask myself why that person would want to join my advisory board when he or she is already very busy. But I challenge myself and anyone who is listening to this podcast to ask the person anyway. Many successful businesspeople are looking for opportunities to help others who are perhaps a few years behind them in terms of the growth of their businesses. They're looking for ways to share their experiences and help others in their journeys.

 

Benefits of Being a Member of an Advisory Board

Being a member of an advisory board is a learning experience for that person as well. When I'm on advisory boards, I always try to add value—to give back—but I also learn what those organizations are doing and then share what I take from that experience with other business owners who I mentor. In this way, being part of an advisory board works both ways. I don't think there's a downside in having an advisory board or being part of an advisory board.

 

Operations of an Advisory Board

At the outset, the advisory board and the person who convenes it should discuss the range of issues that are on the table for discussion, the typical meeting agenda, how often the meetings will take place, and who will be the chairperson. Each advisory board needs a chairperson—somebody who leads it and keeps the ball rolling by creating meeting agendas, staying in touch with the person who convened the advisory board, and ensuring that progress is made and follow-up occurs. An advisory board that isn't set up with some structure and then proactively managed won't be effective.

 

To learn more about these topics, listen to the episode.