How an Effective Advisory Board Can Increase Skills, Professionalism, and Effectiveness in the Family Business
During our recent economic recession, many wise family business owners took the opportunity afforded by slower sales and production to re-evaluate their businesses. Advisors have been busy helping their client companies to develop new strategic plans, and explore new products and new markets.
While this can be an exciting and motivating exercise, many of their clients have expressed concern about their lack of knowledge and experience in some of these areas. While they recognize the importance of continuous improvement, creative customer service, and innovative product development, many also recognize that they may not be able to fully realize their company’s potential without additional experience and support – and this can be both daunting and expensive.