In difficult trading times, one might expect board advisors to ‘go the extra mile’ in providing the value they promise. Recent stories shared by board members and their secretariats seem to imply that this is not always the case. Of course providers have overheads to cover, margins to make and targets to deliver. The best ensure this is not done at the expense of client service.
The best advisors challenge constructively, they focus on the outcomes to be achieved before considering the options available. They bring imagination and original thought to your deliberations. They add value through partnering successfully with you. You are able to identify the individual or team working on your behalf and they are accessible.
Board advisors describe the top three ways in which their clients can enable success:
Firstly, clear channels of communication and regular dialogue provide an essential foundation for all board advisory work:
Secondly, the provision of honest and comprehensive information early in the process will inform choices and help to add perspective on the real issues to be addressed.
Thirdly, reaching agreement on a realistic timeframe which recognises the board rhythm and availability will create and sustain focus and momentum through any board advisory process.
So when commissioning board advisors, it is reasonable to expect they will enable you to build your organisation and board capability through the transfer of their knowledge and expertise. In the face of experts, it is easy to abdicate but at
the end of the day, it is your organisation, your decisions. The critical questions to ask are:
What are we trying to achieve?
What do we already know?
Who can best provide the services we need in our specific situation?
How can we best partner with them to realise the value we expect?
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