Cultivating Your Advisory Team

Business owners are unique. They are trail blazers, innovators, risk takers, and game changers. The personality of an entrepreneur can sometimes make it difficult to recognize limitations and to know when to ask for help. This is why cultivating an advisory team is crucial to maximum success. While hustling to make your business the best, a business owner may not have the necessary expertise or time to be the best at also managing cash flow, hiring, firing, training, managing staff, preparing financial statements, understanding new labor laws.

Key advisors for entrepreneurs include a trusted Banker, Accountant, Attorney, Wealth Manager, Human Resource Professional, and a Business Coach.

A carefully cultivated advisory team can provide:

• Knowledge: Key advisors can provide expertise and advice in areas the business owner is not as familiar with, which saves time, money, and unnecessary stress.

• Centers of Influence: Opening doors and opportunities to connect with people outside of your circle

• Sounding Board: Unbiased professionals willing to give genuine feedback.

• Accountability Partner: An advisory board is a component of a long-term strategy, keeping the business owner cognizant of the future and not stuck in the day-to-day.

• Personal Development: Associating with other successful leaders can build skills and confidence. As they say, your future is determined by the people you surround yourself with.

Now you know why you need an advisory team and what they can do for you…but how do you find them?

Take a hard look at your strengths and weaknesses. Identify the area(s) of your business that you struggle with the most (think: what are the things that you procrastinate or cause you the most heartache). Talk with trusted friends and colleagues in your industry. Ask for recommendations on who to talk to. Who not to talk to.

Utilize the internet to gather data. Meet with potential advisors. Just like in your own industry, not everyone is built the same. A potential advisor may offer a commodity, but their knowledge and how they operate can vastly differ. Find someone you connect with, who will support AND challenge you. Ask questions. Ask a lot of questions. Lean into the people you connect with. By being vulnerable and honest and open to feedback, you will naturally cultivate a team working together to support you and your success.

Jill Mason February 10, 2026