It’s normal for companies to have a board of directors but there’s nothing to stop you from having a personal board of directors to advise you on important decisions.
All of my companies have a board of directors. We meet face-to-face once or twice a year but we link up informally every few days.
Whenever we have to take an important decision, I ask my board for their best advice. Sometimes I take it, sometimes I don’t.
They give me a different take on key issues and they help me turn big problems into big opportunities.
My Personal Board Of Directors
In addition to my boards who advise me on business matters, I also have outsiders who I call on for personal advice.
I don’t pay them and they don’t even know they are on my personal board. They just know they get a call from me from time-to-time.
For instance, I may be thinking about investing in a company that operates in a sector I know little or nothing about. When that happens, I simply pick up the phone and ask for help and guidance from someone who is more experienced and wiser than me.
Sometimes they’re not people I know particularly well but they have a specific expertise and, so far, I’ve found everyone is happy to help.
Form Your Own Board Of Directors
You should follow my lead and have your own personal board of non-executive directors.
Your board should be people you admire with values you respect. They may be experts in a particular sector or they may simply have attended the university of life.
All you’ve got to do is draw up a list of people you’d like to have on your board. They may be total strangers, people you’ve read about or individuals you already know.
It’s obviously easier to garner a board of people you know but, if you don’t know them, simply reach out to them and begin building a relationship. You don't even have to tell them your purpose for reaching out.
Linkedin Is The Perfect Platform
Linkedin is the perfect platform for making connections and the more connections you have, the more people you can call upon for expert advice.
When you’ve got your board in place, you just give them a call, drop them an email or send them a direct message on Linkedin when you’re in need sage advice and wise counsel.
It’s important to choose your board wisely.
You need to choose people who are more experienced than you, more expert or more worldly wise than. There’s no point in having advisors who know less than you.
All you’ve got to do now is decide who’s going to be on your personal board and start making the right connections.