How do you determine which direction the economy is going in and what that might mean to your firm next year? How do you determine whether to embrace a new technology that some of your major corporate clients have begun to invest in? It is important to remember that you do not always have to go it alone or rely only on the intuition of your fellow partners. A good number of professional service firms have formed an advisory board to counsel the managing partner on various aspects of the business.
Think about the last time you had an open discussion with a group of business people, sharing ideas and concerns. An advisory board is a formal version of this process. You might think of an advisory board as your own special management think tank.
