Nick discusses advisory boards, and the governance you may need in order to scale your business. Many see the growth of a business as a gradual shift in your identity, and in this episode, Nick explains why the identity of the business itself must also grow, including at the highest level.
KEY TAKEAWAYS
- Businesses that have some level of advisory governance, tend to work out to be more valuable in the long run. Having an external perspective can also help with execution and strategy.
- An advisory board is a group of subject matter experts who provide the company leadership team with a new perspective upon factors such as innovation, risk management, growth, profitability and other areas.
- When you bring in someone to sit on a board, you must always compensate. This can take the form of perks such as travel or accommodation and dining, but can also stretch to equity shares.
- Advisory boards are there to not just offer guidance on the areas you do know about, but to offer support and mentorship in the areas in which you are unfamiliar.
BEST MOMENTS
‘You can only scale a business to the level of your identity’
‘If you’re going to pay for expertise and expect a result, it is an investment’
‘You need people who’ve been there and done it. Who’ve got the t-shirt’
‘It’s about understanding the value of having that support network around you’
VALUABLE RESOURCES
Scale Up with Nick Bradley: scaleup.vip/podcast
Scale Up Your Business, coaching/consulting: https://suyb.global
Join the free Scale Up Your Business community: scaleup.vip/community
To download a free gift from Nick – The 5 Reasons Why Your Business Will Never Get To 8-Figures … How To Fix It Fast! – https://www.scaleupmastermind.com/free-guide1
Take the SUYB Predictable Growth Assessment™, to measure your current business performance and show you where to focus next to get to where you want to be: https://scaleup.vip/PredictableGrowthAssessment
ABOUT THE HOST
Nick Bradley is a renowned entrepreneur, investor, speaker, and business growth expert.
His background is growing and scaling Venture Capital and Private Equity backed businesses, across the UK, the US, and further afield.
Over the last decade, he has completed 117 acquisitions and 25 business exits with a combined valuation of over $5bn dollars.
His “Scale Up Your Business” podcast, which ranked #1 on iTunes’ business charts, has more than 350k downloads in over 130 countries.
His mission is to help business founders build valuable businesses and create life-changing exits so they can realise freedom, wealth, and impact.
CONTACT METHOD
Nick’s Facebook page: https://scaleup.vip/FB
Nick’s Facebook group: scaleup.vip/community
Nick’s LinkedIn: https://scaleup.vip/LI
Nick’s Instagram: https://scaleup.vip/IG
Scale Up Your Business, coaching/consulting: https://suyb.global
We help business founders scale their business to a life-changing exit within 36 months. Please feel free to get in touch if we can assist.
