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 segment, Amber asks Peter: “How do you start an advisory board?”
Amber Sherlock: So how do you start an advisory board?
Peter Williams: To start an advisory board, it’s really to understand where you want to be. So where are you aiming to get to? That’s the most important element. So once you’ve established the purpose of the advisory board, you’ve established a vision of where you want to take your company. Then you set about actually looking for advisors who can fill the holes and the goals in your own organisation. So you look at your team skills that you’ve got already in your team. You then look at actually the sort of expertise that you would like around the table that can help you or guide you and take you forward to the next levels. And then once that is done, if they’d have an independent chairman that will run the board to make it focussed, because as an owner or as a CEO, it’s very difficult to do both, to facilitate meetings and also to contribute to meetings.
And then it’s around having a process and a framework that takes you over the next 12 months in terms of tackling all the key issues in your business, the key elements of where you want to go and the strategic direction.