8 Reasons to Join a TAB Virtual Board
In the best of times having a quality sounding board of peers is vitally important. During times of economic uncertainty, having access to fresh perspectives, expertise, and support when you’re facing big decisions is not a luxury — it’s a necessity.
Peer-to-peer advisory boards bring together like-minded business owners across a variety of industries who can all share insight and expertise with the goal of helping each other’s businesses. This creates an atmosphere of mutual respect and trust; where members can be frank about their challenges and questions.
While the situation we find ourselves in during the coronavirus crisis is unprecedented, a TAB board provides a beacon of hope. Business owners have ready access to the help and support they need through virtual board meetings and coaching sessions. Here are some of the top benefits of joining a virtual board:
No more feeling isolated and alone
Avoid being overwhelmed by the issues you face in your business with a group of supportive and like-minded entrepreneurial advisors. We’re all familiar with the phrase '“it’s lonely at the top”. But it doesn’t have to be. Your TAB board is a community. A support network of business owners like you to lean on in tough times and celebrate successes with. Many members report an overall improvement in their quality of life and work-life balance after joining a board, along with being better equipped to fight burnout, manage stress, and work on interpersonal skills.
Greater focus on the big picture
Become a better business leader by working ON your business and not IN your business. As a business owner, you should be spending as much time as possible on the tasks that only you can accomplish, but this is something many struggle with. Working ON your business rather than IN it involves more strategic activities that lead to growth, improved profitability and increase morale.
Achieve personal and professional growth
Be transformed by gaining valuable knowledge, helping you be a more confident and effective business owner and leader. Each member of a peer advisory board will come with a different unique set of strengths and weaknesses, tried and tested in the real world. This makes a board a powerful tool for business owners to help fill the gaps in each other’s knowledge and grow their own capabilities in other areas. Along with receiving advice, you will also get an opportunity to share your own knowledge. That challenges you to grow, as well as gives you an opportunity to help other business owners.
Better decision-making skills
Different perspectives from fellow TAB members will broaden your thinking and help you make sound decisions. Evaluating whether or not a specific strategy will work for you is easier with the help of other seasoned business owners. In a board with a diverse membership, it’s likely one of your peers has come across whichever situation you’re considering in the past and can give you custom-tailored advice. They can help you uncover your blind spots and confront gaps in your line of reasoning to make sure your new strategy is watertight.
Increase accountability for your actions
Your TAB Board and your TAB coach will both ensure any course of action you decide upon is achieved. A business owner advisory board helps provide accountability to keep you on track with big-picture goals. Knowing that you will need to report on your progress at your next meeting provides the positive peer pressure to accomplish those things that will truly grow your business.
Trusted, unbiased and confidential
Join a group of peers that will become your most reliable source for feedback, wisdom and advice. Many business owners find it difficult to admit vulnerability or knowledge gaps to others; a peer advisory board is designed as a safe space where you can assess your strengths and grow professionally. The ability to open up so fully among a trusted group of peers allows business owners to not only grow their businesses, but also to find personal and professional balance.
Online meetings and coaching
Enjoy the convenience of less business travel with virtual meetings and one-on-one business coaching. Video conference technology offers an in-person feeling during the meeting, while also allowing for easy document- and desktop- sharing to quickly share information with participants. There’s also a time and cost savings as you don’t have to travel to the meeting.
Gain new knowledge and insights
Access the type of information that will help elevate your business from business leaders and experts. Not only do fellow business owners more fully understand the issues you face, as a business owner advisory board matures, members will become more familiar with each other’s businesses and be able to offer personalized insights on things like how to increase sales, how to run the business more efficiently and how to solve thorny personnel problems.
As a business owner or leader, it’s essential to be healthy to weather a downturn. TAB Members share expertise and challenge each other to think critically. That helps you take the right actions, right now. Being prepared is not only a competitive advantage — it gives you peace of mind. As part of TAB, you’ll address critical business decisions that will make your business as healthy as it can be, no matter what the outside world throws your way. It’s a small investment with BIG results.