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

May 14, 2001

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.

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