Bartmann Wealth Secrets: Why You Should Have A Board Of Advisors
Wealth Secrets of a Billionaire: Why You Should have a Board of Advisors
Bill Bartmann says that one of his wealth secrets that contributed to his financial and business success was having a board of advisors and here's why...
Imagine what it would be like if you had 6 to 10 people who were serious business professionals, expert at what you aren't and cared about your business and would come together once a month or once a quarter to help you avoid problems and solve problems.
Wouldn't that be wonderful?
Well, that is what a board of advisors does. A board of advisors is a tool that if you use it will literally transform your business. A board of advisors provides three different attributes everyone can use.
1. They provide professional insights. These are people who are professionals. They've been up and down the road and have learned a few things.
2. They can, and will, provide is an objective opinion. These people are not married to you or connected to your business other than through this advisory board. They will be painfully honest with you, which can be a wonderful advantage.
3. These people have business experience.
Imagine surrounding your business with people who have these three attributes who are willing to spend time with you to help your business grow. The real power in these wealth secrets is that a board of advisors allows you to leverage your assets and it allows you to leverage the skills and attributes you bring along with the skills and attributes of outside professionals.
In most environments, we have to pay for this. With a board of advisors, you get that for nothing.
There is a difference between a board of advisors and a board of directors. A board of directors are elected to an office and are appointed to serve for a particular term. They get compensated for what they do. That means they also have a legal responsibility and a moral obligation to do the best job they can do. There are times when a board of directors can and does get sued for the advice they give.
A board of advisors is different. They are uncompensated. They don't have a legal responsibility. Of course, they have a moral obligation to give the best advice they can. But the mere distinction that they don't have a legal obligation means they are not going to get sued for the counsel and advice they give.
That distinction alone makes these two boards remarkably different. A board of advisors is also different than a mastermind group because in this case, you will have a larger group of people. Each and every one of these people have come together for one purpose, to help your business. A mastermind group comes together to help each other and they all expect to get something out of it in return. A board of advisors comes together to help you.
Here are some things to consider as you put together your first board of advisors. Bill Bartmann encourages you to keep it small, maybe 6 to 8 people. By keeping it small, it becomes a cohesive group, and you get to know them and they get to know you. All of you can focus your effort and energy on your business. Bill also suggests that you choose members who will challenge you.
Sometimes, we want people who will agree with us. But a good board of advisors will challenge you from time to time. You want someone who is not critical, but is impartial. You want someone who will tell you their opinion. If you have yes people, they won't give you their opinion.
Also, choose people who will be supportive of you. You want them to be people who have your best interests at heart.
One last ingredient is to find the best people you can for your business. A good board of advisors will transform your business. If you constitute a good board of advisors, you are halfway home. If you put together a good board of advisors, it is phenomenal what they will do for you. It will transform your business. You get the collective intelligence of all these people focused on one thing, your business.
by: billbartmannopportunity
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