Small businesses and most medium size businesses do not have a Board of Directors, but you can create an advisory board to help your business grow and be successful.
From Barbara Wold:
The Focus Group
Research gives a business the competitive edge. A focus group is one excellent way to collect data and fresh new ideas from customers and staff.
1. Gather 10 to 12 people to “brainstorm on specific areas of your business.” To attain that
number, you’ll need to invite 20 to 24.
2. Keep the objective of the group specific, not general.
3. Appoint an outsider — not a company employee — to be your moderator: he or she will be more
objective and therefore effective.
4. Provide a discussion outline and/or worksheet as a guide during the session.
5. Hire someone to take notes.
6. Keep the session to two hours or less.
7. Hold the focus group session in a private room at a local restaurant.
8. Offer compensation of a gift or a store gift certificate worth $75 to $100.
9. Write thank you notes to all participants.
10. Promise the attendees anonymity. You’ll get more honest responses and results.
11. Do not video tape or have an observation “window” overlooking the group.
Remember, people — not profits — run your company. Show your customers and staff they are appreciated by opening lines of communication and inviting suggestions.
Copyright 2011. Reprinted with permission from Barbara Wold’s Retail & Consumer Tips, email@example.com.