Global Women in Business Advisory Council

10 minutes, 10 insights

What's the best way to advance your business agenda? And where do you need to focus your energies? We're pleased to introduce 10 minutes, 10 insights, a series of actionable ideas from members of the Global Women in Business Advisory Council. Here they will share insights on the very same issues you face as you work to grow your business. It's one way this international group of women business leaders is helping women entrepreneurs everywhere succeed.

We kick off our "actionable insights" series with:

Building your brain trust: tips for choosing the best business advisors

A strong advisory team is fundamental as female entrepreneurs scale their businesses. Consulting with advisors is core to the strategic planning process to access new markets, capital and business intelligence.  Advisors can help identify business opportunities and ways to overcome challenges. Furthermore, they provide an invaluable, long-range perspective.

More food for thought from top female entrepreneurs:

Amy Rosen: It's a mistake to bring in an advisor who's really smart, really talented, and to spend the money when your business is not ready to use this knowledge. Be deliberate. Look for the right advisor for the right moment. 

Carolyn Cross: Make sure your advisors are motivated. It's not worth it to underpay your advisors at the early stage.

Elisabete Miranda: I know everyone thinks her business is unique, but the fact is my industry is undergoing a lot of consolidation and it's hard to find someone who understands this. In the instances when I have identified the right person, he or she wasn't interested due to time constraints or they are just too busy growing their own business. 

Carla Newell: Being on a board is a huge commitment. Be smart about the way you use these people's time. Is a lunch with one advisor more effective than a meeting with four of them?