<span class="lite_member_name">Hans Yadav</span>

co-Founder at VocalTap
Atlanta, Georgia

Posted by Hans Yadav, Atlanta, Georgia | Aug 23, 2012

Every business needs an "advisory board"

I'm not talking about anything formal with equity agreements and what not, but simply a circle of peers that are vested in your success.

With my current project, I made it a point to seek out people in my industry and every week I update them on what I'm doing. I do the same for them and our no-BS policy allows us to objectively evaluate whatever we are working on.

But I'm lucky because it's super easy to find others like me in my field. Does anybody else do this?

Posted by Laura Dodson, CPA, Seattle, Washington | Aug 25, 2012

Yes, I think it's important to bounce ideas off of your advisory board. Different viewpoints can add strength to just about every plan and strategy.

Tax Preparation and QuickBooks Training
Posted by Hans Yadav, Atlanta, Georgia | Aug 26, 2012

@Laura, do you have a circle of peers you bounce your ideas off of? If I may ask, how did you find this group of individuals?
Posted by Matt Lawrence, Seattle, Washington | Aug 27, 2012

No-BS Policy, that is awesome Hans.

I think a policy like that helps enroll others in being open to discussing your business objectives.

Are you looking to formalize your circle of peers?

It sounds like now it is more on an ad-hoc basis.

Biznik Director of Community
Posted by Hans Yadav, Atlanta, Georgia | Aug 27, 2012

@Matt, we actively try and meet up once a month for about an hour to talk about the challenges we are experiencing in our businesses.
Posted by Laura Dodson, CPA, Seattle, Washington | Aug 27, 2012

I met them in a variety places. Some I met here on Biznik. Others are friends. Others I have met through professional organizations.

Tax Preparation and QuickBooks Training
Posted by Amanda Carter, Seattle, Washington | Aug 31, 2012

Great idea Hans. What sort of opportunities have you gain through having your advisory boards? And what have been your challenges in keeping your peers around and vested in your companies future?
Posted by Hans Yadav, Atlanta, Georgia | Aug 31, 2012

@Amanda, well the beauty of having a peer group is that everyone in the circle either has been (or is) in the same boat as me. The most important aspect is experience sharing, so hearing what does and doesn't work for others guides me in my decisions.

I think consistent, unbiased advice from every member of the group keeps everyone coming back. We all have mutual respect for each person's business, and we've all gained tremendous insight into our ventures, so really it's a win-win for everybody.