What is an Advisory Board?

An Advisory Board is a collective network of peers, specialising in Advisory Boards and supporting the entrepreneur’s sector. It is a community of Chairs, Advisors and Experts who are selected, certified and recognised for their unique leadership capabilities and acumen.

Director, Colin Wilson, is a Certified Chair for the Advisory Board Centre and can facilitate and chair an Advisory Board in your organisation. There comes a point in your business where onboarding an Advisory Board is the next natural step for your business to grow and reach its full potential.

An Advisory Board helps a business by providing strategic insight and guidance to business owner/s and their management team. These industry experts draw on their own professional experience and skill sets to provide informed, but non-binding, advice on the business’s strategy.

Industry experts are carefully selected to fulfil any gaps in your business to help your business grow with the assistance from Colin, who will facilitate the advisory board meetings.

Through the Advisory Board Centre, Colin has access to over 180 industry experts to tap into and fill the required gaps within your business to take it from good to great.

Where do you source your advice from?

Many SME’s source their advice informally from friends, family or accountants but it’s that expert advice that is needed to take your business to the next level.

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Testimonial – TBTC North Vic

Colin Wilson has been working with owner of TBTC North Vic, Cam Evans, for the past 12 months to help his business develop a strategic plan and prepare for the changes happening within Telstra. See the testimonial below of the great work Colin has been doing with Cam’s business through the Advisory Board Centre.

Why Would I Need an Advisory Board?

Whether you are an entrepreneur or your business is in the emerging/ start-up phase, experiencing growth, change, sale or in an exiting stage, an advisory board may be just what your business needs.

Opportunity is knocking to push the global boundaries, as “Brand Australia” is increasingly well regarded internationally. Businesses are very well placed to benefit from working collaboratively with advisors with market and cultural knowledge, contacts, due diligence experience and negotiation experience.

Having an Advisory Board that oversee strategy and growth opportunities is a smart move for entrepreneurs. Generally the advisors are chosen because they have practical, hands on experience and are entrepreneurs themselves. This “peer” environment is dynamic and highly impactful. Its aim is to develop the CEO’s awareness and understanding of the business and potential opportunities.

The maturing age of business owners in Australia must not be ignored. Succession planning is a well thought out process that generally takes 18 months to 3 years to implement. Whether a family business is guiding the next generation, an investor is looking to corporatise a family business, an owner is looking for an exit or management buy out, succession planning is imperative.

Advisory Boards can be a vehicle to address specific issues when they arise. Business turnaround, critical incidents, and unprecedented events can be triggers to the establishment of an Advisory Board.

Opening up a strategic thinking process regarding technology or digital disruption is a current driver of project based Advisory Boards. The goal is to create a digital mindset through sourcing external perspectives that identify future opportunities, but also manage potential pitfalls along the way.