Startups and small businesses should have an advisory board

By Michael Lodge on January 31, 2024


Startups and small businesses should have an advisory board

Michael Lodge - The Business Advisor - 424.542.7299 - www.lodge-co.com: Startups and small businesses can greatly benefit from establishing an advisory board, akin to the board of directors in large corporations. A carefully selected advisory board comprised of individuals whom the business owner can trust, who possess valuable business experience, and include the outside accountant, can provide invaluable guidance and strategic insight. These advisors should be individuals who are willing to offer candid feedback when necessary. Meeting regularly, such as once a quarter, and being available for advice when needed, can be instrumental in helping startups and small businesses navigate challenges, capitalize on opportunities, and make informed decisions. By leveraging the expertise and diverse perspectives of an advisory board, entrepreneurs can gain a competitive edge and set their businesses on a path to sustainable growth and success.

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