The power of advisory boards

Mixed race young people discussing new and creative business ideas

It’s amazing the amount a small business can achieve with often limited internal manpower and resources. There comes a point, however, where thinking broadly about your business, rather than just operating in your business, is best tackled with some external support.

At Redchip we believe in the power of community. Not only do we open our doors, and boardroom, to receive external input on our business, a number of our directors are also actively involved in advisory boards for other businesses. On a broader scale we seek to bring together groups of like-minded individuals on areas of common interest, such as technology and innovation, so that we can take inspiration from other insights and ideas.

As director Gavin Barnes told the Sydney Morning Herald in a recent article on advisory boards:

“[Advisory boards] get to deliver the advice that can take us to the next level to grow our business without any of the commercial risk, which allows us to really think outside the square… Establishing an advisory board is a great way to access external expertise and can really push your business to the next level.”

The article goes on to outline the benefits of advisory boards for small businesses, and how you might go about creating one.

If you have goals to grow or evolve your business in the new financial year, consider the expert advice that could help take your business to the next level. If there isn’t anyone in your existing network to provide this guidance, look further afield and send out a request. You may be surprised at the eagerness of people to share their knowledge, experiences and expertise to help others.  We also have a wonderful network around us and would be happy to offer a referral if you wish to get in touch.

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