Did you know one of the most critical steps for the success of any business is having an advisory board? No matter how big or small your organization is an advisory board is a necessary component to developing and growing your business and your revenue with integrity.
On this episode of the Grow My Revenue Business Cast our guest is an expert on this topic. She is Marissa Levin, successful business owner and author of Built to Scale, a book on how to find and implement your ideal advisory board using her S.C.A.L.E. model. Get ready to take some insightful notes as we dig into all of that and more today!
Listen to this episode and discover:
- When do you need to think about your advisory board?
- Why you must be ready and committed to change when you bring on an advisory board.
- The 4 biggest mistakes Marissa sees companies make when selecting an advisory board.
- Should your compensation for your advisory board be performance-based?
- What is a restricted stock agreement and should you have one?
- And so much more…
Episode Overview
Marissa Levin learned firsthand how valuable advisory boards are: her first company is now 20 years old and thriving, but several years ago she felt they had hit a plateau. With over 70 projects going on a time there seemed to be chaos constantly, and she couldn't figure out how to create structure and order. One of her personal advisors suggested she create an advisory board.
With that brilliant idea in mind Marissa set out to find out how to do it, she wanted the formula and the process for finding, creating and implementing her board. But there was nothing out there aside from people who said it was a good idea and it should be done.
So she used herself as a guinea pig: she went through the process and meticulously documented what worked, what didn't and what she learned. From that came her book Built to Scale and the now-international formula of S.C.A.L.E. On today's show we discuss both the book and what the formula stands for so you can apply it to your advisory board.
Also on this episode she explains the top mistakes she sees people making when choosing their board members and how to avoid following in their footsteps, plus a great lesson on how beneficial it is to operate with integrity and the intention to help others. Listen in for all of that and more on this edition of the Grow My Revenue Business Cast! Discover more at http://www.growmyrevenue.com/business-cast/
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