Your Own Personal Board of Directors

Often entrepreneurs find themselves needing advice and counsel; worse, they are just plain lonely. This vacuum can be very prevalent at small businesses and, by definition, exists for the “solopreneurs” (the individual business person).

Frankly, few of us really are multi-talented and this can quickly be brought into focus when you start a company or go off on your own in a small business. Running your own business requires you to be an accountant, marketing guru, an operations manager, and a human resources manager, to name a few of the skills required.

You really have no choice but to look outside and ask for help. You can pay for this counsel or you can get it free; either way most of us need it. I recommend that you set up your own personal board of directors. Look for people who know what you don’t. This could include law, managing people, sales and marketing, finance, spirituality, real estate, technology, and others. They must be willing to help you. You probably have friends who support you already. What I suggest is that you take the next step and formalize the relationship.

First, you need to identify the people who have the knowledge, expertise, and contacts that you don’t. They could be friends, relatives, neighbors, colleagues, and strangers. Just about all my friends started out as strangers, so don’t let the fact that you don’t know someone stop you. You are looking for people who also have the desire to coach, teach, or share.

Next, meet with them in a casual setting one on one; I like a business lunch best, but that is up to you. At this meeting, a key objective is to explain your admiration for their skills and how you don’t have the same skills. This disclosure can be powerful for you and for them. Most people need to be needed and will bend over backwards to help you. Ninety-nine times out of one hundred, your prospective personal board of director will be complimented by the words and they will admire your self-disclosure. Most will agree to help you on the spot. It is just that easy.

From there, it is up to you, but I recommend that you make a point of meeting, phoning, or e-mailing your individual board members monthly. Keep them updated on your progress, successes, and failures. Be gracious and thankful. Look for ways to give back and help them. The goal is to set up a friendship or bond similar to that of a coach and player.  The coach gives and the players gets. My personal experience as a coach is that I have been paid back in full many times over. You will find this same attitude with most people who are willing to join your board.

John Bradley Jackson
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