Real business growth hinges on a CEO’s willingness to ruthlessly assess his or her skills and then find creative ways to fill in the knowledge gaps.
Entrepreneurs typically like to think they can do it all. Big mistake. Real business growth hinges on a CEO’s willingness to ruthlessly assess his or her skills and then find creative ways to fill in the knowledge gaps. An advisory board can be just the ticket.
So it was for Jo DeMars, the CEO of DeMars Associates, a Waukesha, WI, company that designs and manages dispute-resolution programs for large companies such as eBay and Porsche. “We had grown to the point that there were business-management questions and marketing issues that I didn’t know how to approach,” DeMars says. “I needed someone else to help chart a course for me.” Her advisory board did exactly that for eleven years, helping DeMars with everything from entering new markets to structuring an employee benefits plan. But assembling and managing a board can be challenging.