Everyone Needs a Personal Advisory Board

More than 25 years ago, I joined a small group of business owners through the Entrepreneurs’ Organization.

We met regularly and talked about what was really going on in our businesses.

Not networking.

Not selling to each other.

Real problems.

Hiring someone important.

Dealing with a difficult employee.

Growing too fast.

Growing too slowly.

Making a big investment.

Eventually, for me, even thinking about selling my business.

The people around that table had dealt with many of the same things.

They didn't necessarily tell me what to do.

They shared what they'd experienced.

They asked questions.

They challenged my assumptions.

And sometimes they helped me see something I couldn't see on my own.

I came to think of that group as my personal advisory board.

It was also where I formed some lifelong friendships.

Looking back, I think there's something powerful about having a few people in your life who understand enough about what you're doing to help you think through it.

Entrepreneurs especially can spend a lot of time inside their own heads.

You're making decisions all day long, often without anyone who fully understands the context.

Employees may not be the right people to talk with.

Your spouse may be supportive but not know the business.

Friends may not have experienced what you're dealing with.

And sometimes you don't need another consultant or expert.

You just need a few thoughtful people who have been through enough themselves to ask good questions and offer perspective.

I think the same thing applies beyond business.

Careers.

Transitions.

Big decisions.

Figuring out what's next.

We tend to think we should be able to work these things out ourselves.

Sometimes we can.

But I've made some of my better decisions with other people sitting around the table.

Not making the decision for me.

Just helping me see it more clearly.

Everyone needs a personal advisory board.

It doesn't have to be formal.

It just needs to be made up of people you trust enough to tell what's really going on.