The People You Need on Your Small Business Board of Advisors
When you think of a Board of Advisors, it probably brings up images of a bunch of stuffy old men wearing too-tight suits, jammed at a long brown table in some conference room 30 floors up…
…and that’s fair, because, for a lot of businesses, that’s exactllllly what a Board of Advisors is. However, y’all know me — and I’m not into the stuffy, too-tight suits, brown table bullsh!t over here.
It’s why my version of a Board of Advisors is a hell of a lot more fun (and effective). ;)
Because guess what, love? We ALL need a Board of Advisors, whether we’re running a medspa, building an interior design firm, or in a leadership role in the corporate world — and choosing that Board of Advisors WELL can make all of the difference in how we show up, how we rest, and how we make money and change in our businesses and careers.
Full stop.
So, first things first… what’s a Board of Advisors?
To kick this off, I want to give you the ~official~ definition from some of our friends who pile in at the long brown conference table (AKA, the definition of Board of Advisors as written by the good ole’ Corporate Finance Institute).
They say that a Board of Advisors is “a group composed of business professionals that provides advice on how a business owner can better manage his company.”
Anyone else notice the “his”? Hm, me too. Interesting how misogynistic the corporate world can tend to be, isn’t it? But, minus the blatant sexism, this isn’t an awful definition — even though I think we can reframe it to be even better. So, here’s my definition:
A Board of Advisors is the group of people that keep you SANE in entrepreneurship. They’re the people that you can freak out/laugh/vent with, run things by, get feedback from, ideate with, and grow with — and having the right people in your corner, the right Board of Advisors, means absolutely everything.
The 4 people you need on your Board of Advisors
As I’ve scaled my own business (and helped tons of women do the same), I’ve come to realize that there are 4 people EVERYONE can benefit from on their Board of Advisors:
An accountability partner
A mentor
A circle of trusted peers
A coach
I have each of these people in my corner, and each of them is a huge part of the reason that I am where I am today. Plus, my clients who have these people in their corner too can agree, and big-time.
So, let’s break it down — who are these people? Why do we need them in our Board of Advisors?
First up, we have our accountability partners. These are going to be the people that you meet with, weekly or biweekly (or even monthly if that’s more your speed), to work through tough projects together, brainstorm & problem-solve with, and connect with.
My accountability partner Maryam and I do this every other week by gabbing for 15 minutes, setting an agenda, and then going on mute to work for 1.5 hours. It’s been an unreal form of support for both of us — and even though we’re tackling entirely different projects, we’re there for each other to provide advice and moral support.
Wondering how to find an accountability partner? There are so many ways! Here are a few of my favorites:
Facebook groups for digital nomads
Instagram hashtags (yes, really!)
Local networking groups
Conferences & events (that’s how I met Maryam)
Then, we have mentors.These mentors can be unpaid or paid (some people mentor for a living!), and these are the people 1-2 stages ahead of you that want to see you win, are willing to connect you with the right people, will open doors for you, will answer your questions, and will show you how to navigate the space you’re in with a little more grace and strategy.
(Psst… my mentor is responsible for helping me grow my business so much faster than I could have on my own. He was my first business coach, and taught me everything I know.)
Wondering how to find a mentor? Here are some ways my clients and I have had success in this area:
Get in touch with people who you’ve looked up to in business
Join and leverage professional associations in your area/niche
Contact speakers & presenters whose work you’ve connected with
Instagram and LinkedIn! It’s a gold mine out there!
Get plugged into networking groups online and in-person
Next up, you have your FRIENDS and PEERS in business.
These matter so, so much. These are the “real ones” that you can share the sh!t show with, they’re the ones that you can talk about your struggles with, and they’re also the people that’ll show up for you without you needing to worry that they’ll steal your strategy.
I have so many of these, and they’ve been people that I’ve known for a long time, people I’ve known for a short time, and people I don’t even know “in real life” — but that still show up for me (and vice versa). And these people my love — these are the people that make the bad days easier, and the good days WAY more worth it.
So, here’s some encouragement: if you’ve felt like you can’t have “friends and peers in business” because you’re competing with each other in some way, I want you to let that go. Friends and peers are the best part of this (often isolating) journey we’re on, so don’t let fear of competition keep you from it.
And then lastly, my gal — but not least — we have coaches. Coaches get tactical (like, really tactical) with you about growth and strategy. They work with you consistently — like really consistently — for months and years on end, and they’re the ones who help you navigate fires and move the needle in your business and your career.
Now, I’m a coach. But I’m not just saying this because I’m a coach. I’m saying this because I, personally, have a coach and have had coaches in the past — and they’re why I’ve scaled. They’re how I’ve developed a business that works for me. They’re how I am where I am right now.
Wondering how to find a coach? You’re in the right place. ;) My 1:1 coaching packages last for at least 6 months, and we work together weekly to create a mindset-rich AND a tactical strategy to help you realize your biggest business and career ambitions.
(Psst… I am almost full for 2023 — if you want to book a free consult call, I’d love to meet you. Book right here!)
But, no matter what, it’s imperative that you find a business coach that you connect with. I’d highly, highly recommend that you leverage your network, that you do your research, and that you wait to find a coach you truly connect with — because without that connection, what’s the point in the investment?
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Now you’ve heard who’s on my Board of Advisors, and who I think should be on yours. But, more important than anything, are YOU on your Board of Advisors? Are you doing the work to build a sustainable business — one that brings in profit but also allows you to rest? Are you investing in the right things for you? For your business? Are you setting realistic, sustainable goals?
Because without that friend, you’ll burn yourself out. And you’re too damn good for that.
So if you’re looking for a 2023 game plan to earn more and rest more, a custom month-by-month strategy to make it happen manageably, and more of an accountability partner to jumpstart the plan over 1 month, the VIP Day is for YOU.
We’ll work together over the course of 6-8 weeks (anchored by one 8-hour VIP Day) to help you do anything from designing a custom offer to building out a scalable, restful growth strategy for your business.