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.