See Also:
How to Run an Effective Meeting
How To Train People For Success
How to Hire New Employees
How to form an Advisory Board
Future of the Accounting Workforce
Advisory Board AgreementBest Practices of advisory board management include setting an agenda, communicating with members and soliciting recommendations. All of these goals can be relatively easy to achieve once your advisory board is set up.
Advisory Board Agenda
Meetings are typically a routine, pre-planned event with an advisory board meeting agenda. They are usually a lunch meeting that lasts into the late afternoon or it can be an early dinner meeting that lasts into the early evening. They can be held in a private room at a restaurant or club. You want it to be somewhere that is quiet and where you and the advisory board members can have an uninterrupted conversation with food and drink provided.
Advisory board meetings typically last between three and four hours, depending on how full the agenda is for a meeting. It is a good idea to publish an advisory board meeting agenda in advance, so that if there’s any reading or preparation required for the members they can be prepared for the meeting.
The expected outcome of the advisory board meeting is for you to get some recommendations, advice, and perspective. It is not necessarily to make decisions as in a traditional board meeting, with votes taken on motions and minutes of the meeting taken and published.
Advisory Board Communication
You can include advisory board members in the distribution of your monthly financial and operational reports for the company, in order to keep them up to speed on how the company is progressing. This can be beneficial if your advisory board meets on a quarterly basis. Communication can be done via email. Some advisory boards will have members who engage in discussion between meetings, via email or in person. In addition, advisory board members may meet individually with the company’s president or CEO in between advisory board meetings.