Create an Advisory Board

It's a great way to get premium business advice for cheap.

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1 min read
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An advisory board of unbiased peers is a cheap way of getting feedback without the legal entanglements and cost of a . Payment is negotiable, and the rewards are great. "You can negotiate a fee or just take them out to dinner," says Ray Silverstein, president of 's President's Resource Organization, which helps entrepreneurs create and run .

When creating an advisory board, look for four or five people whom you not only trust but who collectively can find money, introduce you to customers, mentor your managers and review your ideas. "These are people who have political power to bear. They can open doors," says Betsy Atkins, who sits on the advisory boards of a few small and is also CEO and president of Baja LLC, an independent firm in Gables, . "They can also help you fine-tune your ."

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