Faraday is a member of The Advisory Board Centre, an independent body that educates companies on how they establish, work and benefit from professional advisory boards. It also supports a network of 200 certified chairs, approved advisors and experts that service the companies in business specific challenges and opportunities. These include growth, raising capital, and family members wanting to exit the business.
Faraday Partner Henry Lynch, pictured above left, is a Certified Advisory Board Chair and Certified Advisor.
“Faraday professionalises advisory boards for businesses that wish to address start-up, growth and exit challenges faced by governance boards and management teams,” Henry said.
“The research behind it and results are compelling – and these are on our website (www.faraday.company)”.
Key areas that Faraday specialise in are: mission focused; advisory board ready; practical and productive; and measure what matters most.
“Facilitated by one of our experienced chairs, our comprehensive advisory board establishment and management process clarifies an organisation’s business goals, identifies capability requirements and engages impact advisors to help achieve specific enablers for the organisation’s mission,” Henry said.
Faraday’s experienced team removes perceived work, time and effort obstacles preventing SMEs from taking advantage of this untapped resource.
“The methodology we use attracts world-class advisors to work with our clients, while directors and management retain decision-making authority and execution autonomy.”
“Our process has an in-built advisor refresh cycle that ensures each milestone in your plan is informed by specialists in achieving your next stage of business growth, change or exit.”
Advisory Board Ready
The most significant contributor to advisory board success is the readiness of the company.
Faraday’s comprehensive Advisory Board Starter Programme will get directors, owners and managers advisory board-ready in 90 days.
“Facilitated by one of our experienced chairs, the programme ensures the organisation’s governance, plan, priorities, objectives and stakeholders can take full advantage of the advisory board resource.
“During these 90 days, our chair works closely with the company to remediate any issues likely to constrain, or distract the company or its advisors from their mission focus on improving service, sales, productivity or profitability,” Henry said.
Practical & Productive
Faraday’s proven process in establishing and operating advisory boards for SME customers, distinguishes Faraday and the companies it works with.
“To help courageous people build outstanding companies, we recognise SMEs need grounded advisors who provide practical solutions, through highly productive interactions with key company decision-makers.
“Our Chairs and Advisors are not consultants or professional service providers. They are entrepreneurs, specialists and former executives who have been there and done it before.
“And, because they are not conflicted by a shareholding, by potential consulting revenue, promotion or personal gain, organisations get independent, practical advice from highly productive advisors,” Henry said.
Measure What Matters Most
Traditionally advisory boards have been informal, unstructured and their impact unmeasured.
“At Faraday, we measure what matters most for the business, whether it be customer satisfaction, sales growth, productivity improvement, profitability, business confidence or completion of a transaction,” said Henry Lynch.
Each month the advisory board chair will meet with the organisation to understand progress, anticipate obstacles, suggest tactics and prepare for the next scheduled full advisory board meeting.
“At pre-determined intervals, we help assess progress against industry benchmarks, peer performance, company targets and strategic milestones to identify risks, opportunities and the impact.”
- The website www.faraday.company features key information and case studies.