This article first appeared on June 9, 2011.
Having a board of directors is something most start-ups never think about – it sounds like such as big-company thing to do.
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But the truth is you probably have some sort of informal board going already.
In most cases, it’s likely to be a board of advisers, who you will consult regularly or irregularly, depending on how many problems you face.
The members are likely to be mentors, trusted friends and family members and colleagues. You probably meet them individually when you want to tap their brains, and they are unlikely to be in the one place at one time.
So why not take this informal group to a new level by calling them all in for lunch and thrashing out some issues in a more collaborative way?
This only needs to happen once a quarter, or even every six months. But even the creation of this slightly more organised – but still informal – board should help you access better advice and a bigger sounding board for your next growth initiative.
Oh, and it sounds great to tell potential investors or customers that you’ve got an advisory board.
Get it done – today!