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The Benefits of a Peer Advisory Board

Apr 07, 2021

While there are plenty of rewarding aspects that come with owning a business, it can also come with challenges that only other entrepreneurs are familiar with. A peer advisory board offers a way for business owners to connect with each other, share challenges, and brainstorm solutions for personal and professional growth. 


Support Isn’t One-Size-Fits-All


You work really hard to differentiate your business from the competition, and rightly so — but this also means you need support that fits your model and goals. Working with a group of peers that understands those unique needs can offer up great advice, without tipping your hand to let the competition know what you’re up to by asking someone else in your network for insight.


Look Beyond the Dollar


Of course there are financial benefits to seeking out help running your business, but a peer advisory board offers more value than just monetary. Finding a group of peer advisors who understand that work-life balance is essential to success and know that chasing dollars disrupts that balance, you’ll be able to clearly see advantages beyond the bottom line.


Give and Receive


Entrepreneurs are human too, and even the most successful business owners have some weaknesses and vulnerabilities. Joining a peer advisory board offers you an opportunity to provide support to others and help others with your strengths. This will also allow room for you to hone your leadership, mentorship, and facilitator skills, all of which entrepreneurs need access to at all times.



Watch Your (Mis)Step


If you’re a business owner who feels like they learn things the hard way by making mistakes, that’s perfectly fine. However, with a peer advisory board, you have a group of entrepreneurs who have likely already made those same mistakes before — which means you don’t have to. Your board will point out when you may be about to make a costly misstep.


Figuring Out Fundamentals


Even with different business models and across different industries, there are a few fundamentals that are ubiquitous when it comes to running your business. If you haven’t ever learned these basics or it’s been a while since you’ve revisited them, don’t overlook the role of a peer advisory board to help you get back on track and motivate you while you create new habits or change unhealthy ones.


Building Plan B


If there’s anything we’ve learned as business owners in the last year, it’s that we need a wide array of contingency plans in place to help keep our doors open in times of crises. With a peer advisory board, you’ll have a pool of insider-only resources and advice to help create those plans. That way you’ll be able to have some peace of mind when challenging times hit, instead of being reactive with no real strategy at hand.



Growing Self-Awareness


Your friends and family, and especially your employees, will try hard to be supportive, but that may mean you’re always hearing that your ideas are great or that those around you agree with every point that you make. This can be great for our ego, but eventually it leaves us complacent. Joining a peer advisory board may hold a mirror up for you to see a new perspective and force you to think about unconventional ways to grow personally or professionally.


Adding to Accountability


Telling yourself that you’ll make a change is one thing. Take it one step further by joining a peer advisory board and telling them that you have some goals you’re working on. You’ll get a sounding board and a cheering section to motivate you to stay accountable and acknowledge your progress. You are much more likely to keep tabs on yourself, and it opens doors to the other members of the group for you to be their cheerleaders too.


Networking Net Gain


The relationship-building benefits are likely the most valuable on this list. When you’re working so openly with peers with similar mindsets, everyone plays an integral role in each other’s success. That’s a relationship that stays with you forever and provides a consistent space where you can feel comfortable being vulnerable and discuss taking risks; both of which are also integral in your success.


Our peer boards are grouped to create the ideal mix of experience, common interests, and chemistry to best support one another. While your business may not be large enough to have an official Board of Directors, you still need the advice and support that comes with this type of organization — let us help. 

What Small Business Owners Need to Know About Email Authentication Requirements

08 Mar, 2024
Have you been having trouble sending out bulk emails and email blasts recently? Are you suddenly having deliverability issues with clients and vendors you've been emailing for years? If so, you're not alone — Google and Yahoo rolled out new DMARC requirements in February, creating headaches. We have heard that many of our small business owner clients and their IT departments are having such headaches.  To investigate this issue, we have leaned on IT expert and long-time TAG peer board member Fred Moore of Moore Computing. Fred has walked us through changes to DMARC and offers advice on how small business owners can get their emails back into the inbox. While DMARC changes have thrown many into a temporary tailspin, the changes represent a move to safer and more secure email communication for all parties. Let's discuss what small business owners need to know about DMARC, how they can ensure their emails reach customers' inboxes, and how to keep their business digitally secure. What is DMARC? Cybersecurity measures are similar to cars: most of us drive one daily, but most are unable to lift the hood and understand exactly how it runs. Most of us rely on cybersecurity measures to keep our businesses safe online, but we may need help understanding the technical elements that keep us safe. That said, all small business owners should have a general background in cybersecurity, and DMARC is a great place to start. DMARC stands for "Domain-based Message Authentication, Reporting & Conformance." The idea behind DMARC is to limit the volume of scams and phishing on the internet. DMARC works with SPF and DKIM. SPF (Sender Policy Framework) is a list of services and servers that are authorized to send emails on behalf of your domain, and DKIM (DomainKeys Identified Mail) is a digital seal that verifies the content of your email hasn't been altered or tampered with. DKIM is also able to withstand email forwarding, whereas SPF can not. Senders and Recipients At its core, DMARC validates the authentication of the sender of an email message. When there are deliverability issues with a message, it usually falls back on the sender. Small business owners know the importance of getting marketing campaign emails and other communications into their customers/clients' inboxes; to accomplish this, it is crucial to follow all protocols to ensure you have the best chances to reach customers' inboxes at an optimal place (i.e., not the spam folder), and avoid spam complaints. How does your email make its way to recipients? It follows a basic flow: ● The email is composed and sent ● The sending mail server will add DKIM ● The email is sent to the recipient's server ● Validation tests begin, checking DKIM, SPF, and DMARC policies ● The email either passes, is quarantined, or is blocked/deleted ● If the email passes, it goes through the recipient's user filters and inbox rules

The Costly Mistakes of DIY: Why Small Business Owners Should Invest in Professionals

11 Jan, 2024
Running a small business is a challenging task. It requires dedication, hard work, and juggling multiple responsibilities. Often, small business owners try to cut costs by taking on tasks themselves, even if they are better off calling a professional. While the intention may be to save money, the reality is that DIY can lead to costly mistakes and legal pitfalls. Let's explore the common mistakes small business owners make when they opt for a do-it-yourself approach and why investing in professionals like lawyers, accountants, and general contractors is crucial for long-term success. The Myth of Saving Money Many small business owners believe that handling tasks themselves will save them money in the long run. However, this is often a misconception. While it may seem cost-effective initially, the lack of expertise and knowledge in critical areas can lead to costly mistakes that can ultimately hinder the growth and profitability of a business. The Value of Professional Services Professional services, such as lawyers, accountants, advisors, and general contractors, bring expertise, experience, and a deep understanding of industry regulations. They can provide valuable guidance, prevent legal issues, and help small business owners make informed decisions that align with their long-term goals. Most of the time, business owners don't consult with their advisors because they are wary of spending money on bills from their advisors on top of other expenses. The phrase "You can pay me now, or really pay me later" comes into play in these situations. Business owners should not be afraid to discuss money and bills from professionals with their advisors, and they should properly compensate advisors for their time. Complaining about spending a few thousand dollars to review a $20,000,000 contract can cost hundreds of thousands due to difficult payment and dispute resolution terms.  Protecting Your Intellectual Property Intellectual property (IP) is a valuable asset for any business. Failing to protect it can lead to brand confusion, loss of revenue, and legal battles. Trademarks, copyrights, and patents should be filed appropriately and protected to ensure exclusive rights to your brand name, logo, or product design. How Professionals Can Help Lawyers specializing in intellectual property can guide small business owners through filing the necessary documents and paying the required fees. They can conduct an IP audit to identify and protect essential assets, develop IP protection strategies, and enforce IP rights if violations occur.

What Business Owners Can Learn From Al Pacino’s Locker Room Speech in “Any Given Sunday”

09 Oct, 2023
In the 1999 film “Any Given Sunday,” directed by Oliver Stone, Al Pacino delivers a powerful and memorable locker room speech that has resonated with me for years. The speech, delivered by Pacino’s character, Tony D’Amato, before a crucial football game, encapsulates the essence of the film and the themes it explores. While the speech is specifically about football, its underlying message can be applied to various aspects of life, including business. The idea of fighting for inches, continuously improving, and eliminating mistakes is a powerful metaphor for the importance of perseverance and adaptability in business. It highlights the value of small victories, incremental progress, and the relentless pursuit of excellence. For business owners, the speech serves as a reminder to focus on the details and the small wins that can accumulate over time. Just as a football team must fight for every inch on the field, a successful business must be diligent in managing its resources and seize every opportunity for growth. It emphasizes the importance of building a team that shares the same values and is committed to continuous improvement. Think of it in terms of all the inches and seconds around us in business and how $200 here and $50 there adds up. The whole concept of continuous improvement, eliminating mistakes, and fighting to get better is what I believe Oliver Stone intended when he wrote it. I love it as much today and as when I first saw it and the metaphor of getting into business and being profitable. You can read the transcript here . Or watch it here:
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