No one builds a successful business or makes significant strides in their personal life entirely on their own. If you’re going it alone, you’re limiting your potential for growth.
I sometimes look at the networks of certain leaders and I find them to be very limited and homogenous. I also see far too many people taking self-reliance to the extreme and putting way too much pressure on themselves. We need to start normalising the fact that seeking support from others is healthy.
Having just one mentor or a sponsor isn’t enough either. Of course you need someone who is opening doors for you and helping you see around corners. But if you want to see your goals through to the end, you have to dig deeper and think more holistically.
You must build a diverse “dream team” that provides support in everything from physical and emotional well-being to business and even spiritual guidance if you want to accelerate both your professional and personal trajectory.
What is an advisory board and why do you need one?
Many studies highlight how important mentoring and coaching are for career and personal development. However, with today’s changes in the job market, such as increased mobility, a more diverse workforce, shortened job tenures, and tech advances, leaders are faced with new levels of complexity and uncertainty.
The idea that a single mentor can fulfil all of your developmental requirements isn’t realistic anymore. According to researchers Kathy Kram and Monica Higgins, “[N]o one mentor can possibly provide the guidance, exposure, and opportunities that are so essential to effectively manage current job challenges or prepare for future leadership roles.” Instead, there are other support roles beyond formal mentoring that can help. That’s where an advisory board comes in.
You need both a business and personal advisory board. These boards may serve different purposes, but their underlying goal remains the same: to help you garner alternative thinking that inspire innovation, keep you relevant, and prevent you from getting “stuck”.
I see a board of advisors as a group of professional connections who you trust and respect and who possess certain skills and experiences that can supplement your own. So, whenever you’re faced with a specific problem or a major decision, you can just turn to this board you’ve assembled and rely on them for assistance and guidance.
If you run a company, you should have a board of advisors specifically for your business, where their whole goal is to support that business in growing and achieving its goals. However, when it comes to a personal life, you also need to look at yourself like a business.
Just like in a business, you need a board of advisors to help you achieve your personal goals. They could be mentors, friends, family members, or professionals in various fields, but you need to consider in what ways they could contribute to your growth and success.
Who are the right people to have on your board?
Your circle of advisors should be as diverse as possible, and I always say it should be based on your key needs and gaps you want to fill. For me, that meant including advisors that could support me in areas like health, wellbeing, and energy management.
Twice a week, I visit a biokineticist who helps me build physical strength and ensure I stay fit and healthy. I also check in with my dietitian twice a month to make sure I’m fuelling myself right and to help me manage my energy levels better, which is especially important given my busy schedule running three businesses. I feel incredibly fortunate to also have a business coach and two amazing mentors to lean on for advice and support and bounce around ideas with.
It’s not all work and no play, though. I make sure to carve out time for weekly walks with my two besties. We’re able to get our steps in, and it’s also our chance to catch up, unwind, and just be there for each other through life’s ups and downs. Honestly, I don’t know how I’d keep my head straight without them by my side!
All of these people provide targeted support for the parts of my life that matters most to me and where I wish to grow. Take it from me – having a team of advisors by your side can help you go the distance! They’ll help you stay grounded, focused, and motivated to keep going.
If you want to score big, your team needs to evolve as you do
Even professional athletes, like tennis greats Roger Federer and Serena Williams, most likely wouldn’t have been able to maintain their high level of play while raising children without a strong support system. As a tennis enthusiast myself, I’ve always been so fascinated to see how they manage to balance their careers and personal life. It’s miraculous.
No two boards are the same, and yours might change as your life circumstances and goals change. Federer and Williams, having hung up their racquets, probably have a very different team of advisors compared to when they were playing professionally.
Similarly, your advisory board will be unique and will evolve as you do. What is important is that you focus on getting to know yourself and what you want to achieve. Once you have a clear idea of your goals, you’ll be able to start building a board of advisors who can help you reach them.
How do I know when it’s the right time?
The best time to start building a board of advisors was yesterday. The next best time is now. That being said, it doesn’t have to happen all at once – and it’s unlikely that it will. I myself had to try a few different options until I found the ones I had the right chemistry with.
I guess I realised the importance of having a diverse group of thinkers from my experience serving on various boards. I saw how advisory boards contributed to the growth of businesses and I decided to apply the same principle to improve my effectiveness as both a leader and business owner. I was hungry for results. I wanted to grow.
A final word
My personal advisory board genuinely makes me feel like I’m not alone. Even though I don’t engage with all of them at once, their support is always there. I’m able to consistently achieve my New Year’s resolutions and business goals thanks to them.
To me, having a personal advisory board is way more valuable than just having a single mentor. A single mentor is only going to help you with one thing. A personal advisory board is going to help you in all areas of your life. A bigger team means you can achieve “bigger” and better results!
For that to happen, however, you need to keep the following three things in mind:
- Have a clear vision of the direction you want to go in
You need to be clear on what you want and why you want it because each advisory board member should serve a specific purpose in supporting your vision and challenge you to think differently.
- Seek diversity and avoid creating an echo chamber
Make your board richer by including people of different backgrounds, fields, genders, and ages to enhance your perspective and help you learn and grow. Consider including a devil’s advocate who offers a different viewpoint and isn’t afraid to challenge you.
Your advisory board should change as you progress in your career. You’ll need different people for different needs.
One key lesson from my career is that to succeed, you need a supportive team of mentors and advisors behind you. I hope you found this helpful!