Executive Advisory Board
An executive advisory board is where CEOs and managing directors from non-competing companies meet regularly to listen to world class expert speakers and work on burning strategic issues in their businesses.
The format of an executive advisory board is structured to make best use of the available time. Typically, a world class expert delivers a workshop in the morning on a particular aspect of leadership or a topical subject.
The afternoon executive session makes sure all key issues among the members of the group are addressed and actions identified to move the issue on. The issue owner then has to report on progress the following month.
This peer-to-peer support brings unbiased, independent thinking to your problems, something you won’t necessarily get from consultants and non-executive directors as ultimately they are dependent on you for their income. Non-executive directors also have a fiduciary duty to the company and so at times may be conflicted by what they feel the company needs and by what you need. An executive advisory board is able to focus on your issues, both corporate and personal, and so offer you better support.
In addition, it is made up of senior business leaders from a range of industries and sectors who offer you perspectives you wouldn’t get from a non-executive director in your own industry. And it gives you access to a community of business leaders in your area, so you are able to keep in touch with what’s happening locally.
Membership of the board also includes a regular one-to-one with the facilitator or chair of the group to catch up on issues discussed and/or find issues to bring to the group.
The key benefit from being a member of an executive advisory board is that you will become a better leader, who makes better decisions which subsequently leads to better results. That’s why on average members grow their companies three times faster after joining.
To find an executive peer group near you go to: www.mdgrowthclub.co.uk