BLOOMFIELD HILLS — The Business Improvement Team, a Michigan-based consortium of business consulting firm, last week announced its new board advisory practice, which aims to help small- to mid-size businesses develop advisory boards.
According to Curt Petterson, Business Improvement Team principal, assembling an advisory board may be the most important step a CEO or owner can take to assure a company’s success.
“As operations begin to go beyond the reach of its officers, an advisory board may serve as an effective tool in ensuring the company is moving in the right direction,” said Petterson. “Advisory board members can offer guidance based upon research and experience and provide non-biased counsel to guide management as they make decisions critical to business growth and development.”
Unlike a board of directors, which has formal legal authority and a fiduciary duty to its shareholders, an advisory board acts in a consultative capacity to help business owners make sound, strategic business decisions that determine the future direction of a company.
The corporate advisory practice enables Business Improvement Team Partners to act as advisory board members for clients, or to help clients select the right members for their board.
“Business Improvement Team can help define a company’s key success factors and the strategic challenges the company will face,” said Craig Skulsky, partner of Business Improvement Team. “We’ll create a board at the level you want to achieve, rather than the level you are currently. We are also skilled at selecting board members who have experience building a business, not merely running one.”
As an interim or long-term strategy, Business Improvement Team experts can also sit on a company’s Advisory Board to play that role.
“Our principals and knowledge leaders have all had real experience at the helm of companies, so we understand the decisions that go into their long-term growth and development,” Petterson said. “This is another aspect of the Business Improvement Team that gives us a value-added role with clients.”
The Business Improvement Team is a group of outstanding local consulting firms who have come together to facilitate solution delivery to provide excellent full service to businesses. The member firms are Absolute Engineering & Consulting, LLC, Clear Vision Strategy LLC, Expense Reduction Analysts, Fletcher Business Solutions, LLC, Franklin CIO Services, LLC, Glass Retirement Strategies, Taligence – HR, Tobias Vandeputte & Skulsky CPA’s, PC and Virtual Interactive Agency.
If you would like additional information on Business Improvement Team and its members, please view the Business Improvement Team Web site at http://www.Bizimpteam.com or call (248) 642-3287.