It makes sense — no confidentiality is broken and it allows people that are evaluating the company (clients, potential employees, partners) to educate themselves about their business and be smarter when working with the company. It also broadens the number of people that can give their input into what the company is doing — input which generally makes the company smarter.
It also a great tool for management — a forum for instant public recognition. Whether putting someone’s “name up in lights,” or “naming and shaming,” a company blog is a sort of a light-weight version of the more traditional atomic bomb, the press release.
Here is a great example BzzAgent did thinking about how they are working with their advisory board.
Basically the team at BzzAgent inserted a joke slide in their advisory board presentation entitled “Investor / Advisor Litigation Update.” Clearly a title that should get peoples’ attention. And of course under half noticed the slide or commented on it in their feedback to the company.
It is the bane of the world we’ve created that no one has time (or being busy has become fashionable?) and that business people don’t read, they only scan. Pretty soon we’ll need comment buttons on the bottom of e-mails and powerpoint presentations where people can indicate they actually reviewed them.
August 21st, 2007
Since early 2003, BzzAgent has had an Advisory Board.
In the early days, before we had an official Corporate Board, we met a few times and we worked with a number of individuals to help us with specific projects such as patenting our WOM process and the best approach to certain partnerships. But as the company accelerated, and we’ve added board members, executives and staff, it’s been immensely difficult to utilize this group of experts. Individually, each would gladly help if we reached out, but as a whole this cluster is relatively distant. [more]