When Middle-Market CEOs Need Advisory Boards
- Stratwell Partners
- Oct 28
- 1 min read
Updated: 4 days ago
Getting to $50 million or more in revenue was a road of hard questions you answered successfully. Now everyone around you expects you to have all the answers, but every next move available to you raises bigger, broader questions you haven’t had to think about before:
“What’s the right capital structure to grow our footprint without giving up control of my company?”
“How much more capacity do I need to bid on bigger projects without stretching my budget, people, and resources thin?”
“What has to change for us to move past the plateau without breaking the company?”
Every new question hides dozens of ways to get it wrong that could cost you a decade of building. So when you’re supposed to have all the answers but don’t, what do you do?
When you’re taking on a new challenge or learning something new outside of work, you can call a friend—someone who’s done it or been there before. At work, that’s what advisory boards are for, with the benefit of specialized experience. And unlike fiduciary governing boards, they don’t become your boss: You talk through challenges, get their opinions, keep what works for you and discard what doesn’t.
You don’t need to fill a boardroom to add new experience to your professional contact list. You can start with two independent advisors you can phone about the two most critical areas of your business.
The questions don’t stop at $50MM, or where you are now. They get bigger. Your support system should too.