Family Keys Alphabet - A - Conway Center for Family Business

Family Keys Alphabet – A

family keys A

From time to time, we’ll post Bea Wolper’s “A-Z Keys to Family Business Success” followed by a question from one of our members on the topic – here’s A:

A- Advisory Board. Choose a few trusted people not working in the business who will give unbiased opinions to your CEO in three or four meetings a year. Include people with certain strengths, such as accounting, finance, law, marketing, management and especially wisdom.

Question: What’s the best way to find Advisory Board members?


  • Ask! Especially CEOs in non-competing industries.
  • Contact the Conway Center for Family Business ( or the Business First Advisory Board Exchange ( for suggested names of Advisory Board members.
  • Have a prospectus describing your business and business culture.
  • Be honest about your business challenges and lay out your business plan or short and long term goals.
  • Detail how the Board will operate, including compensation, number of meetings, etc.

Stay tuned for B and the rest!

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