Our company has grown substantially in the past 5 years and we believe having advisors we can meet with regularly will help us become better managers and business people. What characteristics do you look for in a business advisor and what's the best way to choose?
The best advisors are those with real world experience-not just academic credentials-someone who has been there, done that. Also important, industry or company type experience (e.g., service company, software, manufacturing...). Look for someone who compliments your strengths and offsets your weaknesses. For example, I work with entreprenuers who have vision, yet lack the discipline to consistently implement their plan. I meet regularly with them to help them focus and be accountable.