Peter Williams, Australia’s #1 Authority On Leveraging Growth Through Business Advisory Boards, is interviewed by television news presenter and reporter Amber Sherlock of TV’s Nine News.
In this interview segment, Ms. Sherlock asks Peter how an advisory board can be a business owner’s competitive advantage.
Amber Sherlock: How can an advisory board be a business owner’s competitive advantage? Take us through it.
Peter Williams: Yeah, it’s very difficult in today’s world to compete, stay ahead of the game. And the competition is always there. So the competition is always looking for different ways. Technology is helping new start-ups coming into a road, your market share. So again, it’s very difficult and it’s very lonely at the top. So by having an advisory board of experts and skills around the table, you can now be on top of everything. You’ve now got to focus. You’ve now got a clarity, you’re now got accountability as to where the business wants to go. So you’ve now established that and the skill sets that you bring into the table and an advisory board are there. They fill the holes in the goals in your own organisation. So you hire for talent and you rent for experience is the way I look at it. Internally, you’ve got people that are working for you to help actually implement the growth. But around the table you’ve actually got the skills and expertise. People who have been there, who have done that, they know the pain points that you’re going through trying to grow your business. And so that becomes your competitive advantage. So you can make sure that you’ve got skills and expertise where you’ve got those gaps in your own organisation. And that’s what you build your board around.