A growing number of privately-held businesses are contemplating the future deployment of an outside advisory board. A primary catalyst is the reality that more and more businesses are being faced with the challenge of designing a well thought out succession plan. As this takes place, it is an opportunity for an outside group of professionals to augment the guidance of established trusted advisers to ensure the business thrives during any type of ultimate transition.
As you contemplate establishing an advisory board, be mindful of the following considerations highlighted in my article published in Smart Business Network July issue. I hope you find it practical, insightful and timely.