When my husband and I owned our own computer business, the inside joke was . . . “Why yes, as owners, we get to work half days . . . we just have to pick which twelve hours we want!”

Business owners face all sorts of challenges. We have the day-to-day management of staff, customers, inventory, vendors, and the list goes on.  Is it any wonder that, at the end of the day, we’ve barely got time to do any strategizing or planning for our future growth? 

One of the success factors in any business, regardless of size, is to learn to build a team around you.

Certainly, your staff is important. But what I’m talking about is beyond the internal support. This is about thoughtfully putting together a group of outsiders who can offer expertise, experience and connections in other areas that you cannot get otherwise.

In corporations, a board of directors is part of their structure. Most often, they’re paid for their expertise and they show up at quarterly meetings (or whatever frequency is mandated). They may review budgets and marketing plans put together by the staff. They are elected by the stockholders and thus, are accountable as to the profitability of the company.

In our case, that may be a bit too elegant and too formal. However, the expertise is needed, just the same. So it’s important to acknowledge areas in which you are weakest – or those things you don’t like to do – and then seek out willing participants who can assist you.

For day-to-day operations, you’ll want to think about bookkeepers, marketing assistance, repair teams and so forth. Virtual assistants are great options here, especially if your needs are sporadic and not requiring consistent, 40-hour weeks.

And for the really big, heavy decisions, I encourage you to think about developing a Board of Advisors. These could be people who come from the same industry as you – or from disparate ones, but who also have strong skills in various areas.

Who do you admire in your community that has been successful and could provide some great insights? Why not approach them to be part of your “dream team” and allow them to impart their knowledge as a mentor?

Some of my clients merely want a team of 4-5 people who can meet with them quarterly to go over specific topics – maybe this time it’s the business plan for next year. Maybe next time it’s reviewing an employee compensation plan.

This concept is what I refer to as a Board of Advisors. And this is your game, so you make up the rules. You can design a team around your needs and work the program any way you want. You can choose to implement their ideas or not.

Being a sole proprietor or a business owner with limited staffing does not have to result in limited success. Add a Board of Advisers and take your business to the top!

If you’d like ideas on how to get started with a Board of Advisers, join me during my f'ree call: Wednesday Wisdom on August 20th when we talk about Building Your Team for Success.

Until then, have a Golden Day!
Coach Darlene