Prepare to be pushed!

PREPARE TO BE PUSHED

I chair a T.E.C. Group and we are looking for a few good business leaders to join our team.

This is not a social club. It is challenging; it is personal; it is hard work!

Our group comprises non-competitive CEOs and Presidents of both private and publicly traded organizations with a passion for business and leadership excellence.  Member companies are found listed in the top 250 companies on the 2015 ROB Top 1000, in the top 1/3 of 2015 Profit 500, in Deloitte’s Technology Fast 500™ and have been finalists in Ernst Young’s “Entrepreneur of The Year Awards” programs for 2014 and 2015.

Joining the T.E.C. Group has enabled the leaders of these organizations, as a team, to share their drive and commitment to enrich each other’s ability to achieve their individual business, professional and personal goals. Members act as a private board of trusted advisors with no agendas other than helping each other share best practices, solve management issues, make better decisions and improve leadership skills.

• This group represents broad industry backgrounds and experience including automotive, construction, business services, retail, e-commerce, manufacturing, distribution, real estate development, architecture, interior design, finance, franchising and technology.
• Member organizations have combined revenues of approximately $4.0 billion and more than 5,000 employees.
• Member CEOs/Presidents operate globally with sales and marketing offices, operations, clients and suppliers in Canada, US, numerous EU countries, Asia, South Africa and Middle East.
• The group holds monthly advisory board executive sessions  during which the team processes issues and opportunities involving leadership challenges, branding and marketing , new business launches, financial re-organization, global expansion, organizational development, senior level staffing and reorganization, retail strategy, manufacturing, board strategy and management.
• Eight times a year the group benefits from workshops with experts covering a wide range of issues and topics.
• Monthly 1-2-1 private sessions are held between the Chair and each member focusing on business and personal growth.
• Members have access to an online best practices library, member conferences and a network of more than 1,100 Canadian and 20,000 global business leaders.

Members comment on how “loneliness-at-the-top” has been eradicated and how “stress reducing” it is to be part of a group of liked-minded leaders with whom they can share and discuss matters that normally they would need to deal with in relative isolation. They are experiencing the quality of their decisions, strategies and overall problem solving noticeably improving. Access to fresh thinking and challenging conversations with peers is enhancing their personal effectiveness. 

Joining T.E.C. is by invitation only. 

If you think it is for you let’s talk & see if it’s a fit.

 Contact: 

Dick Peters

Chair – The Executive Committee

TEC Canada

(416) 471-1956

rpeters@tec-canada.com

6 REASONS TO JOIN AN ADVISORY BOARD

VIDEO:     6 REASONS TO JOIN AN ADVISORY BOARD 

In this video, Rhonda Barnet, Vice President at Steelworks Design, explains how independent advice and support from a board helped her company survive difficult times and find new success.

 

Advice you can count on

BDC - First-ever Canadian study on the use of advisory boards by SMEs. Impact: 86% of leaders believe that having an advisory board has had a significant impact on the success of their business. Areas of impact most often cited: ·         Company vision ·         Innovation ·         Risk management ·         Profitability. Main reasons that SME leaders set up advisory boards: ·         Complementary expertise ·         Need for advice and support in decision-making. Statistical analysis of businesses’ financial results: ·         Sales growth stronger after instituting an advisory board: ·         66.8% sales growth in first three years after an advisory board was set up vs 22.9% in the three previous years. ·         24% higher sales - businesses with advisory board vs businesses without.

ROLE OF AN ADVISORY BOARD - BDC Study

ROLE OF AN ADVISORY BOARD ACCORDING TO AN SME BUSINESS LEADER

It is not unusual for the CEO of an SME to be a “one-man band,” personally seeing to every detail and micromanaging his business. Isolated, he tends to manage everything himself. According to Jean-Yves Sarazin, CEO of the Delom Group, an advisory board allows entrepreneurs to break free from their isolation and to have a sounding board to validate their strategies. An advisory board allows business leaders to question themselves and forces them to reflect. The mission of an advisory board is to ask the most relevant questions and delve deeper into underlying issues. It can also help compensate for weaknesses. An entrepreneur who lacks financial expertise can benefit from the recommendations of an advisoryboard member who has financial expertise. Moreover, an advisory board forces theleader to be prepared, triggering the thinking process: [Translation] “When preparing, one often self-corrects one’s strategy. Having an advisory board builds discipline.”

BENEFITS ACCORDING TO LEADERS

As a governance tool, advisory boards are not common among Canadian SMEs. However, according to business leaders who have set them up, they yield tangible benefits. When asked to rate the advantages on a scale of one to 10, they responded that the advisory board:

·         is an essential tool                                                                        8.2

·         is like having a sounding board                                                    8.1

·         is a support for the owner/management team                              8.1

·         allows you to develop a broader vision                                        8.0

·         strengthens the management team’s convictions                        8.0

·         forces management to look at the company                                7.5

·         challenges the company’s management team                            7.5

·         brings rigour in to the company                                                   7.2

·         is a driving force for the growth of the company                          7.1

            In particular, the existence of an advisory board allowed them to:

·         improve strategic business choices                                             8.0

·         broaden the universe of knowledge and skills                             7.8

·         develop new ideas                                                                       7.8

·         put in place a better management structure                                7.4

·         improve company reputation and image                                      7.3

·         reassure shareholders and investors                                           7.2

·         avoid costly mistakes                                                                   6.7

·         break down the isolation of company executives                         6.4

·         ensure succession of the company                                              6.1

IMPACT OF ADVISORY BOARDS

Most (86%) respondents who have benefited from the advice of their advisory board believe it has had a significant impact on their company. In particular, respondents note that advisory boards had a direct, positive impact on:

·         company vision                                                                            7.7

·         innovation within the company                                                     6.9

·         risk management                                                                          6.8

·         company profitability                                                                     6.8

·         company survival                                                                          6.6

·         sales growth                                                                                  6.6

·         labour relations                                                                             6.5

·         hiring the best emp                                                                       6.2

These results clearly show that an advisory board improves the company’s vision and enables better strategic decisions. Moreover, an advisory board encourages entrepreneurs to think long term and define a direction for their company.