A Corporate Advisory Board is a council of senior representatives from a handful of key clients at which future plans and strategies can be discussed frankly and confidentially. Paul Sloane, a member of the No World Borders advisory board has facilitated several of these boards for different companies and his advice is distilled in this article.
Among his best advice are the things NOT to do:
1. Allow substitutes. If the person you invited cannot make it then do not accept a lower-level deputy unless you know for certain that they are also a thought leader.
2. Try to sell. This is not the right place for a sales pitch or to try to close deals. However if you do the job well sales will result in the longer term.
3. Jam pack the agenda with your material. One of the main benefits that the customers get is the networking opportunity so give them time to chat to their peers.
4. Ignore the feedback. Why would customers come a second year if you did nothing about their input the first time?
If it is well organized your Corporate Advisory Board can provide you with the insights and comments to test and refine your strategies and to improve your competitive advantage.
Paul Sloane facilitates high level meetings. He is the author of The Innovative Leader.