Develop new ideas.
Make better decisions.
Avoid costly mistakes.
Faraday & Company specialise in establishing and managing purpose-built professional advisory boards for small and mid-market businesses. We help courageous people build outstanding companies.
Develop new ideas.
Make better decisions.
Avoid costly mistakes.
Faraday & Company specialise in establishing and managing purpose-built professional advisory boards for small and mid-market businesses. We help courageous people build outstanding companies.
FEATURED INSIGHTS
Research
SMEs with advisory boards perform better
Directors, business owners and managers are increasingly facing problems outside their areas of day-to-day expertise. To broaden the universe of knowledge, skills and experience available to the company, some small and mid-market enterprises (SME) have established professional advisory boards. Professional advisory boards are the next evolution in formal governance, providing a practical, performance oriented alternative for SMEs, and a complementary extension of capability for companies with governance boards in place.
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An independent study by BDC found SMEs with advisory boards perform better in terms of sales, productivity and profitability. More than 80% of the business leaders who participated said having an advisory board had a significant impact on the success of their business and if they built another business, they would do it again. The business leaders said the advisory board allowed them to:
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Improve strategic business choices
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Broaden the universe of knowledge and skills
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Develop new ideas
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Put in place better management structure
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Improve company reputation and image
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Reassure shareholders and investors
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Avoid costly mistakes
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Break down the isolation of company executives
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Ensure succession of the company
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Despite a significant positive impact on company vision, innovation, risk management and profitability, the study found only 6% of SMEs have taken the initiative to set up an advisory board, most saying they have not yet done so because they believe that it involves too much work, time and effort.
Key BDC study insights
SME Sales Growth 3 yrs before and after establishing an Advisory Board
Productivity Improvement 3 yrs before and after establishing an Advisory Board
Over 10 yrs SME with Advisory Boards outperformed compared to those without
86% of leaders say their advisory board had a significant impact on business success
Despite clear benefits only 6% of SMEs have established an Advisory Board:
Faraday specialise in assessing, establishing, managing, mentoring and chairing high performance professional advisory boards. Our proven process, seasoned chairs and network of specialists have a significant impact on the success of emerging, growing, changing and exiting small and mid-market enterprises.
Proven Process
We use a practical, proven process for establishing, managing and refreshing high performance advisory boards for small and mid-market enterprises
Execute
Refresh
Board Starter Program
Professional Advisors
Business Impact
Our 90 day starter program will get you advisory board ready, clarify your objectives and identify the advisors who will contribute most to success
An experienced chair will facilitate meetings and manage the advisors, entrepreneurs and specialists who participate on the Advisory Board
Your purpose-built advisory board of hand-picked advisors will help your directors and management team make better choices
