Why Business Advisory Groups
A business owner advisory board (also known as a peer advisory board or mastermind group) offers a close-knit group of experienced peers from a range of industries who can help you navigate whatever challenges come your way. You’ll get the feedback, accountability, expertise, and support you need to transform your business.
Is a Business Owner Advisory Board Right for You?
Whether you’re just getting your first business off the ground or you’ve been around the block a few times before, a business owner advisory board can help you get your business where you want it to go. A group of like-minded business owners with experience and acumen is a powerful resource to have at your back.
A peer advisory board will be a valuable asset to anyone who is:
Ready to increase growth.
Considering a new direction or heading into uncharted territory.
In a rut and unsure how to get out of it.
Considering a transition of power and in need of advice.
Likely to benefit from consistent help with marketing, hiring, employee management, and other day-to-day business concerns.
Looking to run the business more efficiently.
Hoping to improve work-life balance.
Acquiring or starting a new business and wants expert mentorship.
Beginning the process of selling a business and looking to make it more attractive for a potential buyer.
Essentially, a business owner advisory board is a smart move for every business owner – no matter when. It will help you step forward with clarity, confidence and momentum. You’ve succeeded and survived alone, but with a peer advisory board at your back, you and your business will thrive.
Lead Better. Live Better. Achieve More.
Think Outside the Box “Usually you are alone when you are directing your business, so it is helpful to have a forum of other business owners with whom you can exchange ideas. It allows you to bounce around ideas that normally you would not be able to discuss with someone else. At a Business Advisory Group meeting, you receive a mix of advice from many different types of business owners, and in this process, you explore ideas that might never have occurred to you.”
Get Candid Feedback. “At our Business Advisory Groups meetings we discuss the issues we are dealing with. All of us have different issues at different times and have tried different things to overcome them, and I’m finding ‘pearls’ every time we gather around the boardroom table. These people have no other agenda, just my best interest and the best interest of my business, and that is priceless.”
Answer Tough Questions “At the Business Advisory Group meeting, they are very good at asking me the questions I don’t want to answer! It’s always interesting to hear their advice, as it gives me new ideas for handling challenges that I have. The fact that fellow members are helping to work on your business each month reignites my enthusiasm and keeps things fresh.”
How a TAB Advisory Board Will Help Transform Your Business
Over the years, Business Network Global—Business Advisory Groups has cultivated a thriving community of motivated CEOs and business owners who share an expertise and passion to radically improve their companies. We bring together busy entrepreneurs committed to giving and receiving the candid guidance that can only come from peers following the same path. And who know that gaining insight from each other is better than going it alone. A TAB Peer Advisory Board gives you a trusted, experienced community of 8-10 high-performing CEOs and business owners who’ve faced similar situations.
Augment Your Core Competencies
Every business owner has specific strengths and weaknesses. Regardless of background, we can all use more in-depth assistance in certain areas. Maybe you’re excellent at keeping your business on track fiscally and identifying inefficiencies, but you might benefit from some help with communicating effectively or developing a marketing strategy. That’s why BNG-Business Advisory Groups Membership can really help you shine. In addition to your peer advisory board, you’ll be given access to one-on-one coaching that can help you dive into specific areas of opportunity. Many business owners find it difficult to admit vulnerability or knowledge gaps to others, but your peer advisory board is designed as a safe space where you can assess your strengths and grow professionally.
Grow Leadership Skills
“By attending board meetings, you learn a lot about your own business. You also learn a lot about yourself, especially from different perspectives. I’ve learned to take my time and not to rush things. Things take time. I now make sure that I know exactly what the client wants and the best way to do it. I ensure that I understand all of the products and all of the people involved.”
Learn from Others On your advisory board, you’ll be able to learn from others who have navigated similar challenges. The collective wisdom of your Business Advisory Group will span many decades across a range of industries—ensuring that you each have much to teach and learn from one another. Each member of a peer advisory board will come with a different, unique set of strengths and weaknesses, each tried and tested in the real world. This makes a board a powerful tool for business owners to help fill the gaps in each other’s knowledge and grow their own capabilities in other areas. Along with receiving advice, you will also get an opportunity to share your own knowledge. This kind of candid exchange challenges you to grow and gives you an opportunity to help out other business owners
Work Through Business Challenges
Are you puzzling through a new growth idea? Considering a possible business opportunity? Here’s another place where the real-world experience of your business owner advisory board will come in handy. Adapting generic advice to your specific business is a challenge, and evaluating whether or not a specific strategy will work for you is easier with the help of other seasoned business owners. In a board with a diverse membership, it’s likely one of your peers has come across whichever particular situation you’re considering in the past and can give you custom-tailored advice. Your board members can also help you ask the tough critical questions or offer suggestions and caveats based on their own personal experience. They can help you uncover your blind spots and confront gaps in your line of reasoning to make sure your new strategy is watertight.
Make Major Decisions with Confidence
Whether you’re having to make difficult personnel choices, trying to figure out how to adapt to working from home, or any number of the inevitable difficult decisions every business owner has to face — you don’t have to make those decisions alone. From creating an exit strategy to taking your business into new markets, your peers will help you identify opportunities and navigate potential pitfalls. They’ll act as sounding boards as you figure out the pros and cons of the options ahead. They’ll also be able to offer insights based on experience with similar struggles.
Avoid Missteps.
It’s often said that the best way to learn is by making mistakes. But the second best way is to learn from other people’s mistakes. In a business owner advisory board, your peers will have made plenty of the usual business missteps, and they’ll be happy to share their stories to help you learn. They also have the collective experience and outside perspective to identify potential missteps before it’s too late. Their insights may come from personal experience or simply from having witnessed them in their many years of business. But your TAB Board will be invaluable in helping to identify mistakes before they happen.
Get Valuable Feedback.
The CEOs/business owners on a peer advisory board will give you ideas and get you thinking about your business in a different way. They’ll ask you tough questions that only someone on the outside can ask and help you think outside the box of your specific business or industry. Along with providing peer pressure and accountability, members of a business owner advisory board can help you understand why you’re having trouble missing certain milestones or goals. They can help you identify which issues are holding you back or brainstorm ways to get obstacles out of your path.
Plan for the Future—Then Execute Strategic planning is a critically important part of business growth. If a CEO and senior executive staff don’t look ahead to what the future might hold, there’s little opportunity for growth and expansion. A business can only tread water and hope for the best possible financial outcome. At the same time, plunging into the strategic planning process without adequate preparation can result in muddle and confusion. Too many attempts at effective planning fall apart due to mistakes made in the process or a lack of accountability when it comes to implementation.
Achieve a Better Work/Life Balance
CEOs and business owners consistently wrestle with handing off tasks and responsibilities. You might know you can’t “do it all,” but it often takes external accountability to help you let go of the reins and focus on what really matters. Some tasks do require your time and attention. Many do not. A CEO advisory board and a business coach can help you sift through how to best manage your time to maximize returns. The truth is that there is more to life than running your business. At BNG-Business Advisory Group, we can help you identify your personal vision for both your business and your life—and achieve both!