You're Not the Smartest Person in the Room

No matter how successful your business may be, or how much potential your business has, if you believe you are the smartest person in the room, you are in trouble. Either you’re in a room full of people who won’t really be able to help you or you are lying to yourself. Neither option is particularly attractive.

Why is this important for an entrepreneur? Because most entrepreneurs, particularly those who have tasted some success, believe themselves to be infallible. A God complex, of sorts. That’s exactly why you need an advisory board.

As Eric Tolic from Hyperlinq notes, an advisory board helps, most commonly, in these areas:

• Finding investors

• Building company culture

• Implementing growth tactics

• Acquiring and retaining employees

• Planning or executing an exit strategy

When you, as a business owner, recognize that there are others out there that know more than you do and can help (1) you be a better owner and (2) make your business more successful, then doors can open for greater success.

To read more on this, including tips for selecting and managing an advisory board, click here.