Words From The Wise
You may not be living in Camelot, but you, too, can have your round table.
Have you ever needed someone to bounce ideas off of but
didn't know whom to turn to? There's a Tustin, California,
nonprofit organization that's helping women-owned businesses
create their first board of directors or advisory board.
In the process, the group hopes to create a model program that
can be duplicated nationally in order to increase the number of
women sitting on the boards of major corporations.
"We act as a leverage point to help women get the type of
advisors on their boards that they might not be able to attract as
a new business," explains Sheri Grady, founder and chair of
Board Builders. The organization targets successful companies with
more than $5 million in revenue and 30 to 50 percent growth
potential.
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Women are particularly wary of the board of advisors concept,
says Grady, because they worry about losing control of their
companies. "We want to show women these boards are very
important tools," she explains, "and that it's
important for them to feel comfortable managing a board. [After
all,] down the road they might be managing a much larger
board."
During the selection process, which takes a minimum of four
months, Board Builders matches the entrepreneur with a three- to
five-member board of CEOs, corporate movers and shakers, and other
successful entrepreneurs--people who supplement the business
owners' weak areas and complement their management styles.
Besides providing input and guidance, Grady says, an advisory
board can help you make connections that put you on the fastest
track to growth. For more information, call (714) 832-5741 and ask
for Board Builders.