Business Basics 101: More cooks in kitchen can actually help your business

Once upon a time, on the day you started your business, you had a vision of your company. Your business would be an ideal place to work and learn and grow. You dreamt of boatloads of money. You could see your business as a way to do what you love to do make money and have fun!

How much fun are you having? Did the boatload of money arrive?

Frustrating, isn't it?

You need some help. Imagine a helping hand and a friendly voice within reach at all times. Wouldn't it be nice if there were someone to confer with about the big decisions?

Create a board of advisers for your company. A board of directors comprises paid professionals who carry heavy legal and fiduciary responsibilities for your company. Advisers are unpaid volunteers with no real legal responsibility. Volunteers are expectedly less formal in their advice and participation.

What does a board of advisors do? The best boards are independent, objective thinkers who help you solve tough business problems. The best board members complement you in strengths. They see your company with fresh eyes and unattached egos.

Start by putting together an ideal list of advisers. Who are the best thinkers that you know ... living or dead? How about having Thomas Jefferson, Tom Peters, J. P. Morgan, Oprah Winfrey, Warren Buffet, Ben Franklin and Mahatma Ghandi on your board? Cool, huh? Now, some of those folks are dead, and the others may be, well, over-committed at the moment. Add to your list others who exemplify the best characteristics of these great thinkers. Do you know someone with common sense, like Ben Franklin? Warren Buffet would certainly add a high level of financial literacy to the board. Who else do you know who really understands financial reports? Pick folks who are smarter and richer than you. Don't be intimidated, just ask. You want challenging people who will help you grow and develop. Aim for five to seven crackerjack board members. Pick the best people you can for the board. Each member of the board should feel honored to be in the company of such fine people. If someone turns you down, accept the rejection gracefully. Assume they are flattered that you asked. Communicate what's required to be a board member. What are you looking for? Direction or advice on a specific topic? You could ask for feedback about your business plan. Ask them to meet to discuss growth issues at the company. Be specific about your dreams for your company. Is it lots of fun and boatloads of money? Formalize your thoughts in a solid business plan and distribute that to the board members. Meetings could be once a month or once a quarter. Certainly, you can visit with board members individually more frequently.

Help them right back. Just because they are smarter and richer than you doesn't mean that you can't be of service to them. Make sure that each board member particularly on a volunteer board knows that you are available to help them in any way that you can. Thank them frequently for their efforts. Offer to help them right back.

Your board can help you over the rough spots in business and can teach you important things ... like how to be profitable. And, how to manage better so you can have some fun in your life. But make no mistake about it. A company isn't run by a committee. Ultimately, you are responsible for the success or failure of your organization. It's a lonely job.

In her wonderful book "Soloing Realizing Your Life's Ambition," Harriet Rubin tells of her experience as a board member. The women who asked her to join the board described the board member's role this way: "CEOs are lonely. They can't tell their people of their outrageous ideas or ideas for the future ... without them saying, We've just jumped through this hoop, now you're thinking of something else?' I need someone smart to bounce ideas off of. I need contacts if I want to investigate some new approach. I need someone to tell me, candidly, if an idea is good or if it stinks."

(Ellen Rohr helps folks make a living doing what they love. She is a business book author and consultant. She can be contacted through the Business Journal by writing to PO Box 1365, Springfield 65801 or via e-mail at sbj@sbj.net.)