Diary of a “Mad” Entrepreneur – Entry #4 – November 1, 2012
More from my musings as a “unique” entrepreneur, who has been thinking about writing my next “Diary” entry but then, there was always something to do that felt more important (some of which was important), e.g., tweeting, connecting with business owners, being a Board member, etc.. Today is the aftermath of “Sandy” so it is a solitary time without phone, internet, TV…even the cell tower must be down as there is only “Searching for Network…” on my mobile device. We do have a generator so some comforts and laptop usage are available. I am missing the 24×7 news coverage and Twitter/Facebook postings about how this weather event has impacted so many millions of others. What wild weather and the havoc it wrecks! Trust each of you fared as well as we did during this storm. (and am so glad to be at www.watercoolerhub.com now 3 days later where there is internet!)
Reminder about why this Diary series – We decided early on that for the 2012 re-launch of www.BoardmyBiz.com, we would utilize our own site and guidance to build our BoardmyBiz.com advisory board…and that I would document and share the process. The result is – Diary of a “Mad” Entrepreneur. Building an advisory board is not a quick process so please, look forward to many more postings. Via these “Diary” blog postings, I will be sharing each step along the way…why a board, expertise we need to complement our skills, the value proposition, sourcing potential advisors, the deal…culminating in enhanced business results.
And we are still on the Value Proposition for us and potential advisors? The number one comment about BoardmyBiz.com is “great idea.” The second comment is “what is the business model?” Bill (founder), Rod (CTO) and I agree that building BoardmyBiz.com as the online community that matches small business owners with potential advisory board members is a critical service for business owners to go beyond their small circle of family and friends to enhance their business. We found that offering it as a free service expanded our community rapidly. But there were few resulting matches so we researched the issue by asking business owners and found – business owners just do not know how to go about actually creating the advisory board. Therefore, we went out and found partners – two partners with the capability to coach a business owner through the process. First is Advisory Board Architects, who works with large firms exclusively on the advisory board process, and have worked with us to offer packages that lead a smaller business (up to $10M in revenues) thru the process from idea to on-going support. And second is The Ledgemoor Group, a consulting firm to start-ups and entrepreneurs with the absolute belief that an advisory board is critical. For the BoardmyBiz.com community, they offer cost-effective packages that coach the start-up and small business owners through the process of building an advisory board. Now we can meet our community’s needs…as well as in the spirit of transparency, begin to have a viable business model and a value proposition for building our own advisory board.
So do we have our advisory board yet? No. We have posted our needs on the BoardmyBiz.com site. We are talking with some potential advisors who have been engaged with us at various levels over the past year. We are at the stage of compiling the list of potential advisors, matching our needs with what they offer and determining their interest. Soon because we know we must have more leaders working with us to expand our business and remain a valued service to advisors wanting to work with businesses and entrepreneurs seeking guidance.
Check out what we have posted as our need for advisors at www.BoardmyBiz.com. And please, continue to let us know your thoughts. Our blog now has stories about where we have made a difference to entrepreneurs by even talking about the value of advisors….