One of the trickiest aspects of a new business is defining a viable business strategy and executing it (working on the business) while simultaneously doing the work of the business (working in the business). It’s very easy to get so involved in the day-to-day activities of the business that you lose sight of the big picture and thus the necessary activities to keep the business moving forward and growing.
|For example, a common scenario with startups is to get panicked into trying to raise money before being properly prepared and thus burning bridges with potential investors. So it’s important to have an “outside” or objective entity to bring you back on track and pull necessary activities back in focus. The board is also great to help you tackle problems, develop ideas, act as a sounding board, provide advice, etc., and hold you responsible.
But building a quality advisory board with the right mix of individuals takes time and effort. A good board can take many years if you’ve never created one before. Working with KENOVA brings you an instant advisory board with business, technology, marketing, sales, operations, basic legal and financial knowledge and experience. KENOVA will also help you form your own board for future growth.