Advisory boards provide unbiased, third-party insights and recommendations on various strategic issues. However, to fully leverage these valuable resources and ensure they offer the expected strategic value, businesses must have a mechanism to evaluate their performance systematically.
Effective communication is crucial for success in any business venture, but it’s especially important for advisory boards. When communication breaks down, it can lead to misunderstandings, missed opportunities, and ultimately, failure. Unfortunately, poor communication is a common problem on many advisory boards. By identifying communication challenges and implementing strategies to overcome them, board members can work together more effectively and achieve their goals.