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Bill Bartmann Lecture Series – Part 11 – Bill Bartmann Explains Why Business Owners need an Advisory Board

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Services for Real Estate Pros with Billionaire U

Bill Bartmann says every business should have an advisory board to bring experience and advice to a company without the high cost of business consulting fees

  

Tulsa, OK - Bill Bartmann, expert Business Coach, has been leading workshops and doing lectures for young entrepreneurs.  Recently, he discussed advisory boards and why all businesses should have one to be successful.  Bill said, "An advisory board is a great tool for your business, allowing you to leverage your skills and attributes along with those of other professionals.  Unlike business consultants, you do not pay your advisory board."

 

One student asked, "Why would anyone want to be a member of the board and give out advice without being paid?"  Bill Bartmann was hoping someone would ask this question as he answered, "Because people love to give advice; they love to feel needed; this is an ego boost as well as an opportunity to use their unique skills to make a difference for another business in their community.  Everyone on the advisory board has the benefit of surrounding themselves by successful people with a valuable collection of knowledge and skills."

 

Bill Bartmann explained how to find and choose members to be on an advisory board.  "An advisory board should consist of 6 - 10 serious business professionals who are not a part of your business," said Bartmann.  "This group should meet monthly or quarterly to advise you on specific aspects of your business with the intent to prevent future problems and to help avoid pitfalls."

 

One student asked, "What if I don't know enough people who agree with my views or share my beliefs?"  Bill Bartmann answered, "Another great question.  You want to choose a well-rounded group of people but you don't want a bunch of "yes" men.  You want people who will tell you their honest opinion while being supportive to the best interest of your business.  This group will enhance the credibility of your business; their advice will be invaluable as each member, with their own unique attributes, advises you with problem solving and strategic planning."

 

Bill Bartmann advised his students to choose people who possess knowledge in fields where they are weak, for example, an attorney or a CPA for legal and accounting issues or someone with great marketing skills.  "A good advisory board will bring a whole new level of expertise to your organization; members of your community who understand the economics in your market area.  A board of advisors with their collective intelligence, focused on your business, will transform your business success to a whole new level"

 

Bill Bartmann is happy to be a member of several advisory boards, where he shares his experiences with other entrepreneurs to help make a difference in the world of business ownership.  Bill Bartmann is the creator of the Billionaire Business Systems, an online business essentials course for entrepreneurs.  Read Bill Bartmann's complete article on creating an advisory board at http://billbartmannbillionaire.blogspot.com/2009/04/bill-bartmann-business-tips-how-to.html

Comments (2)

Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Bill, this is a great idea. Don't know why I've never heard this before. Real estate seems so cookie-cutter but it is still al business with many possible directions.

Apr 19, 2009 08:12 AM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Bill,

Interesting info. Personally I've participated in a peer group of colleagues for more than a dozen years (at least for some of us). We meet monthly to exchange ideas and experiences. The composition includes experience levels of 6 to 38 years, brokers/agents, large and small offices, franchises and independents alike.

We begin with a brief round table of individual concerns, questions, then on to our specifice topic for the month. This group has become a wonderful sounding board for me and I hope the others.

Apr 19, 2009 08:26 AM