Advisory Director Services

When would a small or medium business need an Advisory Director?

Every company will be in a different stage of their ‘SME growth journey’. So at what point does the owner or manager recognise that an Advisory Director can be a powerful resource?

An Advisory Director may prove a valuable resource in any multitude of scenarios, including the following:

• A company experiencing rapid growth
• A company needing to raise funds
• A company wanting to build strategic partnerships
• A company facing major decisions and/or changes in direction, including entering new markets, products or geography
• A company establishing more formal structures involving professional managers
• A company dealing with succession issues
• A company managing the development stages in the business and assisting with staff development
• A company facing challenges with other shareholders
• A company wanting to raise the level of strategic conversation in every aspect of the business
• A company with specific technical and functional issues

Suggested roles and responsibilities for an Advisory Director include:

• Provide an independent source of information and advice to the owners/directors on strategic issues or risks confronting the business
• Create a “learning forum”
• The Advisory Director does not make decisions for the business owner, however does prompt decision making and action on the back of robust thinking and planning.
• Develop an understanding of the business market and industry trends
• Provide “wise counsel” on issues raised by the owners/directors or management
• Provide the Directors and management with insights and ideas which can only come with the distance  from the day to day operations
• Encourage and support the exploration of new business ideas
• Act as a resource for owner(s), executives, staff
• Encourage the development of a governance framework that enable continued growth, whilst not stifling the spirit or vision of the founder(s)
• Monitor business performance and challenge director(s) and management to consider options for improving the business