Advisory Board - A question of trust

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by Per 

October 3, 2022

What do you dare to say - when you use an Advisory Board?

"It's a question of trust, of course. The advisor on an Advisory Board needs to have solid experience, both as a professional and as a fellow human being".

So choosing the right individual is particularly important.

It is important to understand both the knowledge, concrete professional experience and personal qualities of those being considered for the role of advisor, but also the same background information for the managers and owners of the companies that want to bring in external expertise.

Provecu's role is to make the best possible match.

Provecu's business consultancy makes sure to match the right background in terms of industry, specialty and stage of the company to suit the particular business to be discussed. And the stage the business is in.

The advisors that Provecus recommends sign a confidentiality agreement, so that the confidentiality is at the same level as a formal board. Because trust is central, and to provide security, and conditions for a broad discussion where there is a high ceiling. Where there is room to discuss completely new solutions, with a focus on things other than the ongoing daily work.

It is precisely the external perspective and the many years of professional experience that add quality to the role of advisor in an Advisory Board.

Advisory Board - What is it and when is it a good solution?

 An advisory board supports owners and management, but does not need to spend time on formalities, like a board of directors, but is fully dedicated to solving priority problems.

You could say that an advisory board is in some respects equivalent to a board of directors, but with the major difference that the board has statutory obligations and rules with strict responsibilities and oversight, legally and financially.

An Advisory Board contributes to the growth of your business. The workload as an advisor can also be more flexible, and more operational for limited tasks.

More answers and questions about the Advisory Board

  • At what stages is an Advisory Board useful?
  • What are the real differences with a formalized board.
  • How to put together the right participants and where to find them?
  • What are the advantages and disadvantages of an Advisory Board?
  • How does an Advisory Board team work?

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About the author

Per

Per Möller has many years of experience from roles as CEO, business area manager, senior management consultant, working for both small and medium-sized companies in the private sector. Several of the roles have included difficult situations where the business has had to be restructured and change direction, with effects on staffing and evaluation of parts of the business. In several other roles, Per's task has been to increase sales with business development and sales development, from product development to introduction to new markets.
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