Statistics suggest that 50% of new businesses fail within the first 2 years. There are many reasons why small businesses fail:
- Not understanding the ‘sequence’ to starting a new business
- Not having a fully developed business plan
- Not having a well-defined vision and mission
- Not having a good enough understanding of the competitive market
- Not realizing who one’s perfect customers are and howfrequently they purchase
- Not knowing what you need to know
- And many more!
Offer the opportunity for a 12-month period with meetings to be held no more than 2 hours per month. Have the meetings in your home, an office, or a private room at a local restaurant. No need to pay your Board of Advisors, but don’t ask too much from them or take advantage of their good will. Feed them well at meetings and ensure they incur no out of pocket expenses to help you. They will join because they believe in you and your vision (so be sure you have a vision statement to share with them).
To learn more about a Board of Advisors and how they can help you, please contact me for assistance!