Wonder//

Even Earth has a Board

The strategic value of an advisory board can’t be underestimated — just ask Planet Earth.


I meet a lot of entrepreneurs who don’t have an advisory board for their solo or small business and just don’t see the point in having one. They like to be in complete control (after all, who doesn’t?), but I know they’re missing out on so many of the benefits their larger Fortune 500 counterparts are getting by having boards.

In fact, corporate giants like Bill Gates, Richard Branson, Mark Zuckerberg, and Michael Bloomberg value advisory boards so much that they helped create one for Earth. That’s right, even our planet has a board.

Those bigwigs and other leading entrepreneurs from the US and abroad are on a board for the billion-dollar Breakthrough Energy Ventures fund, which invests in companies that reduce greenhouse emissions. While your company’s mission may not be as lofty as providing clean energy for the whole planet, but it can still benefit from a board of advisors.

Expertise and Knowledge

Bill Gates gathered the brightest minds together with Breakthrough Energy Ventures so they could use their combined knowledge to solve Earth’s problems. That’s the heart of what any advisory board does. It uses its members’ skills and perspectives to advise and help a CEO. It serves as an instant sounding board to help you test ideas, look for solutions, and prevent problems.

Independent Solutions

An advisory board is not made up of employees, customers, or anyone with whom you might have conflicts. Its members are independent and have the sole goal of acting in the best interests of your business. Breakthrough Energy Ventures invests in technology that’s clean, sustainable, and better for the planet — focusing only on the best interests of Earth. Similarly, your board should offer solutions that aren’t tied to conflicting interests or personal investments.

Strategic Direction

Relying only on yourself or senior members of management to create a clear, strategic direction for your company is dangerous. Even without realizing it, your or their personal and professional interests can interfere with what is best for your business. An advisory board can help you create a long-term plan that can be monitored and implemented, just as Bill Gates and his team are hoping to make lasting changes in how energy is produced and used by every person on Earth.

Accountability

Breakthrough Energy Ventures monitors the success of each of its investment, testing and refining its processes along the way. This type of accountability is often missing in many companies, and this void can be filled by an advisory board. By forcing your company to be accountable for each action and project, you’ll be more inclined to deliver and make good on promises. Reporting back to an advisory board will motivate you to accomplish goals faster and more efficiently.

Expand Your Network

By populating your advisory board with industry experts, you’ll gain access to their Rolodexes of thoughts leaders and difference makers. They can also provide access to organizations and groups that have the power to help you and your company grow. Plus, having respected leaders associated with your business helps improve your credibility and reputation.

The strategic value of an advisory board can’t be underestimated — just ask Planet Earth.

Originally published at medium.com

The Thrive Global Community welcomes voices from many spheres. We publish pieces written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Learn more or join us as a community member!
Share your comments below. Please read our commenting guidelines before posting. If you have a concern about a comment, report it here.

You might also like...

Community//

Carole Hambleton-Moser, Entrepreneur Mentor: 5 Important Things You Need to Keep in Mind When Building Your Advisory Board

by Carole Hambleton-Moser
Wisdom//

The Life Advice Guide: Insights For Young Adults From Stars of Business and Beyond

by Justin Higgins
Community//

Why every Entrepreneur Needs to Read Books ?

by Chandan Sharma

Sign up for the Thrive Global newsletter

Will be used in accordance with our privacy policy.

Thrive Global
People look for retreats for themselves, in the country, by the coast, or in the hills . . . There is nowhere that a person can find a more peaceful and trouble-free retreat than in his own mind. . . . So constantly give yourself this retreat, and renew yourself.

- MARCUS AURELIUS

We use cookies on our site to give you the best experience possible. By continuing to browse the site, you agree to this use. For more information on how we use cookies, see our Privacy Policy.