Sit At The Table™ — Time for more women to sit at the table

ENTREPRENEUR.COM — WHAT’S BETTER: A MENTOR OR AN ADVISORY BOARD (OR BOTH)?

“Some entrepreneurs need more than just a one-on-one mentoring relationship to help their companies grow. While a mentor helps you navigate personal challenges, an advisory board helps manage the strategic direction of the company. 

Advisory boards are typically comprised of various experts capable of providing insights about specific areas of the business. For example, you might have a lawyer on your advisory board to help work through legal issues and someone from a CPA firm to address financial concerns.  

Mentoring relationships are informal, while advisory boards are more structured. Also, advisory board members are usually incentivized to participate with financial or other rewards. But regardless of the motivation, it’s important to use the group’s time wisely and make the best use of the skills and connections each advisor brings to the table.”