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SMALL BUSINESS : Free valuable tips for small businessSo a small business advertising agency turned to its board of six volunteer advisers in areas such as sales, marketing, finance, entrepreneurship and venture capital—who suggested expanding the Web site beyond its northeast footprint. They followed that advice and now has four national-advertising customers, up from zero a year ago. Last month, the search engine saw roughly two million unique visitors, compared with 500,000 in September 2008. "The advisory board helped us come up with a plan" and "ultimately arrive at safer shores," says Ben Saren, co-founder of the Boston firm, which launched in 2005 and has 11 employees. Some small-business owners say their firms are surviving tough economic times thanks in part to advisory boards they regularly turn to for fresh perspectives and support. Yet a number of organizations that pair up small businesses with these volunteer-adviser groups say they haven't seen more firms take advantage of their programs since the recession began. Athena International, a Chicago nonprofit, runs an advisory-matching program for women small-business owners who meet certain qualifications. It is offered through local chambers of commerce in 30 U.S. cities and most don't charge a fee. So far this year, the program has attracted about the same number of small businesses as it did by this time last year, says Dianne Dinkel, president and chief executive officer of Athena; she declined to disclose the exact figure. Past participants have seen their firm's revenues increase on average 88% within 12 months of completing the program, she adds. Ms. Dinkel says demand for advisory-matching programs might not be increasing despite the recession because some business owners are too proud to accept help. Others may be uncomfortable exposing proprietary information to outsiders, though confidentiality agreements can help ease such concerns, she says. There can also be much work involved in establishing unpaid advisory boards on top of identifying and recruiting members. "You have to choose very carefully," says Dennis Ceru, an adjunct professor of entrepreneurship at Babson College in Wellesley, Mass. A small business might want the sage advice of a retired executive, paired with the experience of a professional who is tapped into current market trends, particularly in industries such as technology or fashion. Common tasks include outlining goals, defining term limits (usually for two or three years) and scheduling meetings. Advisory boards can benefit small businesses in most industries after they've started operating, says Mr. Ceru. But for those still in development, he recommends a single adviser or mentor instead. Advisory boards differ from formal boards of directors because they only provide advice and entrepreneurs "don't necessarily have to take it," says Mr. Ceru. By contrast, boards of directors have a say in a firm's leadership and more. "They can make decisions beyond the day-to-day operating structure of the company," he says. Professionals are often willing to serve on advisory boards without pay because the jobs offer a chance to network, learn and give back to their communities, says Maria Coyne, who oversees an advisory-matching program for women entrepreneurs offered by KeyBank NA in Cleveland. "It's as beneficial for the business as it is for the advisers," she says. Flip Brown, owner of Business Culture Consultants, a management-consulting firm in Burlington, Vt., last year agreed to become one of five volunteer advisers to True Body Products, a maker of unscented natural soaps in Richmond, Vt. "I get to help someone realize their potential," he says. Some entrepreneurs show appreciation by offering stock options, free products or donations to advisers' favorite charities. They also cover dining and travel expenses for when meetings take place, says Ms. Coyne. Some invest in professional liability insurance for advisers in case the company experiences problems as a result of following their advice, adds Mr. Ceru. Dog Day Afternoon Inc. in Orlando and Sanford, Fla., is one of just 25 firms participating in an advisory program offered for free through the University of Central Florida's Small Business Development Center, which says it has about 250 advisers willing to volunteer their services. Owner Emily Schlansky says she signed up last November because her doggie-day-care business was starting to lose customers and incur credit-card debt for the first time after 10 years of steady growth. "We didn't know what to do," she says. "A lot of people lost their jobs so they didn't need us anymore." Ms. Schlansky says Dog Day Afternoon was assigned five advisers with expertise in finance, online marketing, traditional marketing, sales and operations, and they began meeting quarterly. The group suggested surveying the firm's customers and tweaking marketing strategies. Following that tip, Ms. Schlansky discovered she had more senior-citizen clients than she thought and launched a "bark mitzvah" party on a Sunday afternoon to appeal to kids, grandparents and their pooches. "We got a lot of new customers out of it," says Ms. Schlansky, who previously only hosted an annual party for young, single dog owners. Meanwhile, the advisory board came up with a plan to reduce Dog Day Afternoon's financial debt and pay off the balance. Ms. Schlansky says she now expects the company's annual revenues for 2009 to be up 5%, compared with no growth in 2008. Scott R. Gingold says he created an unpaid advisory board last year for his 18-year-old market-research firm, Powerfeedback, by tapping his network. The board includes three retired marketing and research executives, a serial entrepreneur and a media professional who meet monthly over lunch or dinner on the firm's tab. Mr. Gingold says his initial goal was to find out if the company should invest in updating its technology to be on par with a growing number of competitors. At the time, Powerfeedback was a provider of market-research technology and related professional services. Mr. Gingold says the advisory board shot down the idea because it would have forced the company to raise its rates for clients and reduced its profitability. Instead, they recommended beefing up the consulting side of the business. Mr. Gingold says Powerfeedback followed that advice and is now performing well, with revenue up 18% from this time a year ago. source: http://online.wsj.com/article/SB10001424052748704112904574477740302094848.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsSecond Information to pick the best Small Business Credit CardFinding the best small business credit card means doing a little information research. For entrepreneurs seeking a small business credit card, the shopping list includes more than just APRs and airline miles...Starting a Small Business IdeaYou have thought out an angle for starting a small business idea that is going to revolutionize the industry. Are you willing...Good Small Business PracticesGood small business practices require good business etiquette. 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