What is an Advisory Broad?

The Deal Scout

I’m thrilled to share some exciting insights from our latest podcast episode where I had an enlightening conversation with Greg about the fascinating world of advisory boards and governing boards. Here’s a sneak peek into what we discussed:

🔍 Key Takeaways:

• Understanding the Hierarchy:
  • Governing Boards: Operating at a high altitude (think 50,000 or 100,000 feet), these boards focus on strategy, risk management, and governance. They have fiduciary responsibilities and ensure the company’s vision and mission are on track.
  • Advisory Boards: More grounded (down to the five-foot level), these boards provide tactical support, offering diverse perspectives and assisting with specific projects or market expansions.
• Roles and Responsibilities:
  • Governing Boards: Not involved in daily operations but provide crucial feedback on the company’s direction and ensure financial and regulatory compliance.
  • Advisory Boards: Act as brand ambassadors, communicating and questioning to ensure the company’s plan is followed, leveraging their expertise to help achieve goals.
• Qualifications and Expectations:
  • Advisory board members should be high performers with a genuine interest in helping others and contributing to the company’s success.
  • Clear expectations and alignment with the company’s objectives are crucial for effective involvement.

💡 Why Tune In?

• Discover the distinct contributions of advisory and governing boards.
• Learn how these boards can propel your company’s strategic and tactical decision-making.
• Get inspired by Greg’s insights on leveraging board expertise for business growth.

📬 Stay Connected: We’d love to hear your thoughts and questions about advisory and governing boards! Feel free to reach out and connect with us.

🎧 Ready to Dive Deeper? Don’t miss out on this episode! Tune in now and enrich your understanding of how these boards can make a significant impact on your business.

Thank you for being part of our podcast community. Your support means the world to us!
Check out the full episode on YouTube: https://youtu.be/xfyGesURbc8

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Disclaimer: The content shared on this podcast is for informational purposes only and should not be taken as financial, legal, or tax advice. The views and opinions expressed are those of the host, Josh Wilson, and any guests, and do not necessarily reflect the official policy or position of any agency or organization.

Josh Wilson is a licensed real estate broker and an investment banker, but this podcast is not a substitute for professional advice. We strongly recommend that you consult with a qualified financial advisor, legal counsel, and tax professional before making any financial decisions or taking any actions based on the information provided in this podcast.