What are Lean Advisory Boards? How a Fresh Approach Looks to Solve an Age-Old Challenge
A 2014 BDC study found that Advisory Boards—informal bodies providing non-binding advice—help companies achieve 2-3X
higher growth and productivity.
It also found that only 6% of Canadian businesses have one.
Many successful family enterprises have used Advisory Boards to improve management effectiveness, provide business
objectivity and facilitate generational transition.
Yet the challenges—from finding talent to managing costs—has put them beyond reach for most.
The good news: a new “Lean” approach is now helping families tap the value of an Advisory Board more easily and costeffectively.
· Understand the promise and pitfalls of Advisory Boards
· Introduce the Lean approach
· Assess potential fit with your situation