Forming a Board of Advisors Everyone could use a little experienced advice from people who are pulling for you.

No entrepreneur knows everything. So to be sure you cover allyour bases, why not create a board of advisors? How you stock youradvisory board depends on your business's needs and your ownexpertise, but it's generally a good idea to include a lawyer,an accountant, a marketing expert and a financial advisor.

When recruiting your board, make sure you ask the mostsuccessful people you can find even if you don't know themwell. But be very clear about your needs, and be sure to let themknow you don't expect them to take an active management role orassume any liability.

It's smart to meet with your board monthly, whether as agroup or individually. And remember that it's advicethey're offering, not instructions. You are still the ultimatedecision-maker.

Excerpted from Get Smart: 365 Tips To Boost Your EntrepreneurialIQ.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Meta Is Reportedly Planning to Release New AI Smart Glasses With Oakley and Prada

The Oakley Meta AI glasses are expected to cost more than the Ray-Ban Metas.

Business News

AI Is Going to 'Replace Everybody' in Several Fields, According to the 'Godfather of AI.' Here's Who He Says Should Be 'Terrified.'

Geoffrey Hinton, called the "Godfather of AI" due to his pioneering work on AI, says some fields face a heavier risk of replacement due to automation.

Taxes

Why New Tax Rules Could Be a Game Changer for Your Business

With the One Big Beautiful Bill Act making its way through Congress, entrepreneurs need to be ready for significant tax policy changes.

Leadership

How to Know When It's Time to Sell Your Business — Before It's Too Late

It's not always simple to recognize when it's time to move on. Here are three signs to look for to help you make the decision.

Leadership

The CEO's Guide to Thriving as a First-Time Parent

The unexpected ways parenthood makes you a better leader.