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Most of our board members want help with one of the following:
(1) Reviving Stagnant Corporate Sales. We have a proven system for making sales to other businesses predictable and reliable.
(2) Succession Planning. Our board members each get help in planning their profitable exit, even if it is years away.
(3) Raising Capital. With the financial markets in turmoil, it's now tough to raise capital. However, there are still sources of capital for the right situations. We help board members become good candidates for new capital.
(4) Business Support to Professionals. Some board members come to us and say that they just want to do [graphic arts, lawyering, construction engineering, staffing, etc]; they really don't like running a business. We have a solution for this problem.
William E Barker, the owner of the Alternative Board, East Mid Manhattan and the chairman of the monthly board meetings, has had a great deal of experience dealing with each of these problems and more (click here for bio).
Frequently Asked Questions
- Is this really worth the time?
- Is this just another networking opportunity?
- What are board meetings like?
- What are the coaching sessions like?
- How do you help me make my company more valuable?
- How big is the Alternative Board?
- How can I get more information?
1. Is this really worth the time?
If a business owner understands the point about working more ON their business rather than merely IN it, so that their company becomes more valuable, a membership with is worth the time. It is not worth the time if a business owner cannot make a commitment to make their company an attractive target for outside investors or to be successfully sold within 5 years.
2. Is this just another networking opportunity?
While there is networking that takes place, board members find that because the board and the coach work on the problems and opportunities of each business, coaching sessions and the board meetings are a much more productive use of their time than mere networking sessions typically are. The New York City regional Alternative Board franchisees (see FAQ #6) gather their boards a few times each year for networking, but the primary purpose is to make member companies more valuable, a process much more complicated than handing out and gathering business cards!
3. What are board meetings like?
The boards consist of individuals from non-competing business with no key supplier / vendor relationships. Mr. Barker works with each prospective board member to insure a good fit with the board that s/he joins.
The meetings agenda varies and influenced by the needs of each particular board, but nearly always includes time for each member to present an issue or an opportunity and to discuss it with his/her peers. As facilitator of the board, Mr. Barker makes sure that everyone is comfortable enough to contribute and adds his own observations when appropriate. The dynamics of this environment develop into something much deeper and committed than any networking session. People become vulnerable because they feel safe around the others and able to express fears and concerns openly. Members also find it a place of great encouragement since typically other members have gone through similar struggles. It is not an exaggeration to say that the board becomes a small community of people that encourage, support and believe in each other.
4. What are the coaching sessions like?
Mr. Barker comes to the office of each member and follows a prepared agenda to insure that the key points required for that month are covered. Some of the one hour is spent covering progress from the last board meeting and preparing for the next one, but the bulk of the time is spent reviewing progress, changing course as needed and planning the strategic steps necessary to be taken to increase the value of the company in question.
At least one of the proprietary tools (which see) is usually used during the coaching sessions.
5. How do you help me make my company more valuable?
The key is to find those essential business services or products for which others are willing to pay and to build a system of processes and personnel to execute those processes in a consistent way. Probably 60% of the members primarily need work on sales and marketing as their key issue; there are a number of concrete actions we take with those companies to insure that sales can growth predictably. The remaining companies have primary issues in managing people well, in financing their business and/or planning beyond the "idea of the week".
We start with a business diagnostic tool (see Proprietary tools) to identify where the gaps in performance are relative to what the owners believe should be true about their business. Both coaching sessions and board meetings are then geared to fixing those issues and creating the consistent value - creation that investors and/or buyers want to see.
6. How big is The Alternative Board?
There are about 500 board members of The Alternative Board in the New York City region and about 3,000 nation-wide.
The Alternative Board is one of the fastest growing franchisors in the United States. See the main web site at www.tabboards.com. The Alternative Board East Mid Manhattan is one of four franchises of The Alternative Board in New York City.
7. How can I get more information?
Should you wish to have an information packet express mailed to you, click here. Also, feel free to call Bill Barker at 917 287 0480.