Advisory Boards

What is an Advisory Board?

An advisory board is a group of people selected by a business owner(s) to provide advice and information in a relatively informal and flexible manner. Some similarities exist between a board of directors and an advisory board, such as they should both have a chair to facilitate and lead, as well as having procedures for the conduct of meetings. The key difference to a Board of Directors is that an Advisory Board is there to ‘advise’ and as the business owner you have absolute discretion to either accept or disregard any recommendations made by your advisory board.  It can be a good first step toward establishing a Board of Directors.

What do you get?

We help you to set-up and establish your advisory board.  This includes developing your advisory board charter, agenda, risk matrix, skills matrix, board paper templates etc.  This may also include helping you assemble the best people to be part of your Advisory Board. We can also help you to operate and initially chair your advisory board, and assist you from set-up, programming and administration, to creating strategic focus and providing leadership support.

Our experienced and qualified directors, and our network of directors, are able to assist you to take the first steps on a governance journey.

Why do you need it?

An advisory board provides a business owner with a valuable resource as strategic partners and trusted advisors to complement your business leadership.  It also gives financial institutions, shareholders and potential investors a level of assurance that processes are being followed that give a level of duty of care and consideration to decision making, risk and fiduciary requirements.

If you’re thinking that: the valuable business oversight and insight of others might be the key to your success, you may require some specialist or generalist advice, you need different perspectives, you need help with succession planning and/or to become investment ready, or you simply want to your business to become more professional; then an Advisory Board may be a great option. 

“Governance shifts your thinking to the strategic issues rather than the operational day-to-day running of the business” – NZIOD