What is an Advisory Broad?

The Deal Scout

I’m thrilled to share some exciting insights from our latest podcast episode where I had an enlightening conversation with Greg about the fascinating world of advisory boards and governing boards. Here’s a sneak peek into what we discussed:

🔍 Key Takeaways:

• Understanding the Hierarchy:
  • Governing Boards: Operating at a high altitude (think 50,000 or 100,000 feet), these boards focus on strategy, risk management, and governance. They have fiduciary responsibilities and ensure the company’s vision and mission are on track.
  • Advisory Boards: More grounded (down to the five-foot level), these boards provide tactical support, offering diverse perspectives and assisting with specific projects or market expansions.
• Roles and Responsibilities:
  • Governing Boards: Not involved in daily operations but provide crucial feedback on the company’s direction and ensure financial and regulatory compliance.
  • Advisory Boards: Act as brand ambassadors, communicating and questioning to ensure the company’s plan is followed, leveraging their expertise to help achieve goals.
• Qualifications and Expectations:
  • Advisory board members should be high performers with a genuine interest in helping others and contributing to the company’s success.
  • Clear expectations and alignment with the company’s objectives are crucial for effective involvement.

💡 Why Tune In?

• Discover the distinct contributions of advisory and governing boards.
• Learn how these boards can propel your company’s strategic and tactical decision-making.
• Get inspired by Greg’s insights on leveraging board expertise for business growth.

📬 Stay Connected: We’d love to hear your thoughts and questions about advisory and governing boards! Feel free to reach out and connect with us.

🎧 Ready to Dive Deeper? Don’t miss out on this episode! Tune in now and enrich your understanding of how these boards can make a significant impact on your business.

Thank you for being part of our podcast community. Your support means the world to us!
Check out the full episode on YouTube: https://youtu.be/xfyGesURbc8

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