In today’s fast-paced IT channel, staying ahead means more than just delivering great service. You must be proactive, make smart decisions, and have the right people in your corner. That’s where an advisory board comes in.
These boards aren’t just for big corporations — they’re a game changer for MSPs looking to grow and thrive. Let’s dive into why you need one and how to get started.
The Benefits of an Advisory Board
Advisory boards give MSPs access to fresh ideas and expert advice. They bring several key factors to the table:
- Strategic Guidance: Advisory boards help you spot new opportunities, avoid pitfalls, and fine-tune your business strategy.
- Objective Feedback: Board members give you straight talk, helping you make better, data-driven decisions.
- Stronger Relationships: They can strengthen ties with vendors, partners, and clients.
- Credibility Boost: Having a formal board shows you’re serious about growth and professionalism.
- Crisis Support: When challenges arise, a good board helps you respond effectively and stay on course.
Case Study: Turn a Crisis into an Opportunity
A vendor once offered its technology to MSPs as a white-label solution. The arrangement worked well — until the vendor’s technology crashed, leaving the MSPs’ customers without access to critical services. MSPs blamed the vendor for the outage. This resulted in a flood of complaints and a serious hit to the vendor’s reputation.
In response, the vendor conducted a survey to gather feedback from its MSPs. The findings were shared with the vendor’s executive team and then openly discussed during the vendor’s partner advisory board meeting.
Annette Taber
The advisory board played a critical role in addressing the crisis. Over multiple meetings, the board helped uncover communication breakdowns between departments. It also helped resolve operational breakdowns, resulting in improved accountability. Plus, it guided the vendor in developing a more empathetic approach to handling customer support calls during outages. With the board’s input, the vendor implemented meaningful changes. Communication improved, trust was rebuilt, and its partner net satisfaction score climbed to an impressive 98%.
This example can be applied to your own MSP business. Consider how an advisory board can guide you through your toughest challenges.
Common Mistakes When Setting Up an Advisory Board
Creating a successful board isn’t as simple as picking a few people and calling it a day. Here are common missteps to avoid:
- No Clear Goals: Without a clear purpose, meetings can feel aimless.
- Wrong Members: Choosing people who lack expertise or genuine interest can hurt your progress.
- Inconsistent Meetings: Irregular schedules lead to lost momentum.
- Ignoring Advice: Thoughtfully consider recommendations and communicate the reasons that may prevent implementation. This approach fosters respect and collaboration.
- Overcomplicating Processes: Too much red tape can frustrate participants and stall progress.
Practical Advice to Get Started
If you’re ready to create your own advisory board, follow these steps:
- Define Your Goals: Be specific about what you want to achieve, whether it’s improving operations, expanding your client base, or something else.
- Pick the Right People: Look for individuals with diverse expertise who align with your vision and fill gaps in reaching your goals. Good candidates include:
- Successful MSP leaders
- Industry experts in technology and business
- Key partners or customers
- Set Expectations: Create a charter that lays out roles, responsibilities, and how often you’ll meet.
- Encourage Open Communication: Make it easy for members to share honest, constructive feedback.
- Use a Facilitator: A “Certified Chair” can keep meetings on track and lead productive discussions.
- Measure Success: Review your board’s impact annually to see what’s working and adjust as needed.
- Stay Flexible: As your business evolves, don’t be afraid to refresh your board’s focus or membership.
Conclusion
An advisory board can be a powerful tool for MSPs. It will help you tackle challenges, seize opportunities, and build a stronger business. By setting up a well-functioning board, you’ll position your business for long-term success in a competitive market.
Annette Taber is founder and CEO of BoardSWAP, which offers “advisory boards as a service.” Taber is a seasoned channel leader with a passion for helping businesses unlock their full potential. Through BoardSWAP, she provides access to Certified Chairs™, who manage and facilitate tailored advisory board programs to help grow your business.
Featured image: DALL-E
