Why YOU need your own Personal Advisory Board

I learned early in my life the value of having a good bunch of trusted people around me. As a child I learned fast about which members of my extended family were resourceful for what I needed. Instinctively, I fostered those relationships and knew where I was safe. 50 years on, I still have tights bonds with those people.

As I entered the workforce in the big world of banking and finance, once again I was drawn to good people who contributed to me professionally and personally. I recall a beautiful Italian woman, Ariella at National Mutual Royal Bank. She was impeccably dressed, smart and had a warm, engaging smile. I think I used to sit at my desk and stare at her. I was in awe. She was generous, wise and so engaging. She took me under her wing and taught me how to shop for business attire. I trusted her and took on her sage advice.

As a secretary at NMRB I worked for the two Philip’s. One did a load of talking and the other was one who listened, thought deeply and did the work. The latter is the one who convinced me I could tackle a sales role in the ANZ Bank as they took over NMRB. He believed in my ability before I did.

TRUST is the most important attribute for your own personal advisory board. At every level of my career I have developed relationships with multiple mentors. I didn’t know it at the time but they essential became my own personal board of advisors. Over time some left, some stayed and I can see that the common thread has been trust. They knew me and believed in me. I valued and trusted them.

It’s an informal arrangement so its on the phone, over coffee and sometimes it might be lunch.

When I chaired a board and had some really tough challenges and had to seek advice from wise people external to the organisation. Paul was incredibly valuable in helping me to sort my thoughts on what was acceptable and what was not. I was young and inexperienced. There were some big problems on that board. He had a wealth of knowledge and was willing to share it. He still sends me the funniest things via messenger to give me a laugh. He was calm and relaxed during crisis as well as loaded with experience of boards and governance.

Why build an advisory board?  

If you allow them, they will contribute powerfully for you. Contribution is one of the key needs of human beings. They will challenge you, hold you accountable, think differently, assess risk and see what you don’t see. There are some really good people out there who are willing to contribute to you. Let them do it.

The good thing about such a board is the they will be diverse, offer different approaches, hold you accountable and provide valuable guidance that is incredibly valuable. Generally, they have ‘been there, done that’ so you don’t have to make the same mistakes they did. You can make new ones!

How do you build an advisory board?

Allow your intuition to step in and guide you. For me it started by observing, then trusting and allowing the connection to grow. These days I am more up front about what I am seeking. I actually ask them. I actively seek out the smart people who know more than I do. I’ve decided I have a lot to learn and I don’t ever want to be the smartest person in the room. 

What NOT to do

Important to be aware of - don’t be a user and just be on the take. You know what I mean? Mutual respect is crucial. You get nowhere in life by taking and not giving. Think about it. It’s not difficult eh? Some of them will stay a little, some will stay a long time. It’s all good.

Keep it Simple

Don’t over complicate it. Keep it simple. Life tends to work better that way. Trust that the best person will generally cross your path somehow and you will find yourself in the right conversation.

Do look for opportunities to give back. It could be the simplest thing like a movie recommendation or a good book you think they might appreciate.

I’d love to hear your experience of creating an advisory board or indeed being an advisory board member for someone. What advice do YOU have?

If you think you might be Board ready, you probably are! Isn't it time you stepped up to make a real difference and impact in a decision making role? Take the quiz in the comments below. Check it out for yourself. Let's open a conversation.

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