Peer advisory boards have been around for a while -- yet a surprisingly small number of business owners have taken advantage of them.
Why are many entrepreneurs hesitant to join a peer advisory board?A lot of entrepreneurs find the peer advisory board concept difficult to access. Forming a peer advisory board is daunting enough. But when you add in tasks like facilitating meetings and maintaining peer-to-peer advisory board relationships, many small business owners decide peer advisory boards simply aren't worth the hassle.
The Alternative Board is a business consulting service provider that helps alleviate the challenges entrepreneurs face when they attempt to form peer advisory boards on their own. By centralizing the peer-to-peer board formation process, The Alternative Board makes it easy for business owners to access the advice of local business owners, presidents, and CEOs who run non-competing businesses.
In addition to board formation, The Alternative Board facilitates monthly meetings for its members. Board meetings are designed to give owners a true peer experience -- entrepreneurs share insights and receive support from colleagues with similar leadership experiences and business backgrounds.
Unlike self-initiated peer advisory boards, monthly meetings are conducted with the help of an Alternative Board facilitator. However, the facilitator's responsibilities include much more than moderating the conversation. Each facilitator is also an executive coach who has a private, monthly meeting with each subscriber on his board.
The Alternative Board: Benefits for Small Business Owners
The Alternative Board is an especially helpful resource for small business owners who lack both the time and experience to tackle the peer advisory board concept on their own. Rather than muddle through the decision-making process on their own, Alternative Board subscribers have access to a simple and effective advisory resource.
Small business owners face a unique set of challenges and The Alternative Board's small business focus gives owners the confidence of knowing that their fellow board members are the primary decision-makers at similarly sized -- but non-competing -- firms. Likewise, Alternative Board facilitators help maintain the small business focus throughout the process.
The most significant benefit The Alternative Board offers to small business owners may be the private executive coaching sessions with the board facilitator. Leveraging the expertise of a coaching professional, these sessions give small business owners the ability to implement new solutions based on the lessons gleaned from monthly board meetings. In many cases, the monthly coaching sessions also provide an accountability mechanism that does not exist elsewhere in the owner's business life.