A structured program facilitated by an experienced chair to get your business advisory board ready in 90 days.
The situation
We live in a world were volatility, uncertainty, complexity and ambiguity are now a permanent business condition, forcing business leaders to ask how much they really know about a situation, and how well they can predict the results of their actions.
In the search for answers, today's directors, business owners and managers frequently find themselves confronted by problems outside their day-to-day areas of expertise. This is the new reality.
The opportunity
Small and medium enterprises (SME) with Professional Advisory Boards perform better in terms of sales, productivity and profitability. Independent research into SME advisory boards by BDC found:
SME revenue grew 67% in the three years after establishing an advisory board, compared with 23% growth in the three years prior
SME productivity increased 5.9% in the three years after engaging an advisory board, compared with 3.2% in the three years before
Over a 10 year period, companies with advisory boards reported sales 24% higher than companies without 86% of SME business leaders said their advisory board had a significant impact on the success of their business
When best practice is followed in establishing and managing a professional advisory board, the business develop new ideas, makes better decisions and avoid costly mistakes. Its this combination of informed moves that significantly increases the probability of success.
Advisory Board Starter Program
Faraday & Company have mastered the process of establishing and managing advisory boards that dramatically improve small and mid-market business performance.
What is it?
A comprehensive program that gets your company advisory board ready in 90 days, so you can leverage world-class business advisors to help you start smarter, grow faster, change better or exit successfully from your business.
How does it work?
The Advisory Board Starter Program is a structured program facilitated by one of our experienced chairs to get your business Advisory Board ready in 90 days. Over three one-day sessions with your chair the business will:
Develop a deeper understanding of how advisory boards create value
Examine the company's purpose with regard to owners, employees, customers and suppliers
Use this understanding to assess the current strategy, structure, systems, staff and skills
Better understand the current financial and operational drivers of their business
Consider future strategies and the knowledge, skills and experience required to execute
Design an advisory board based on the problem solving needs of the business
Select a chair person to manage the advisory board
Prepare an advisory board charter, code of conduct, advisor selection criteria and advisor induction pack
Why now?
Research shows small and medium enterprises with advisory boards consistently outperform those without. Professional advisory boards are an untapped resource for businesses in start-up, embarking on growth, navigating change or planning for exit or inter-generational succession.
Who should do it?
Small and mid-market businesses with revenue up to $100m revenue
Program details
Program Fee: $10,500 + GST (paid in 3 x $3,500 + GST monthly installments)
For more information contact
Craig Richardson, Director
Email craig@faraday.company
Phone +64 2199 1873
Henry Lynch, Director
Email henry@faraday.company
Phone +64 274 974 993
About Faraday & Company
Faraday & Company specialise in establishing and managing professional advisory boards small and mid-market companies in Australia and New Zealand. Visit www.faraday.company