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Russell Eastwood leads The Alternative Board Peer Advisory Board in Auckland

Beyond the #8 Wire: The Transformative Power of The Alternative Board

Written by Eastwood & Co on .

New Zealand’s business landscape is largely shaped by small enterprises, which have historically leaned on the iconic ‘#8 wire mentality’ and a strong entrepreneurial spirit to navigate challenges. However, in today’s complex digital age, even the most resourceful Kiwi business owners can sometimes feel isolated. In this article we explain how The Alternative Board helps provide a different level of support for growing Kiwi businesses through a peer advisory board. We explain what The Alternative Board is, and the value of becoming part of a the alternative board. Keep reading to learn more!

So what is The Alternative Board

We completely understand the pride and sense of achievement that comes from doing it yourself, however there’s also immense value in seeking external perspectives, especially from those who’ve walked a similar path. This is precisely where The Alternative Board steps in.

The Alternative Board at its core is a unique platform designed to support business owners by creating an environment of collective wisdom. As a result, it unites diverse business minds and promotes shared learning, so that no business owner feels isolated in their journey. The Alternative Board is built around providing three pivotal components to its members:

Membership Components of The Alternative Board

  1. Resources: Firstly, the modern business landscape is diverse, and the challenges it presents are multifaceted. Recognising this, The Alternative Board offers its members a wealth of resources tailored to address a myriad of business needs. From financial planning tools to marketing strategies, members have access to a comprehensive database that keeps them ahead of the curve.
  1. Business Coaching: Personalised mentorship plays a pivotal role in business success. Each member benefits from one-on-one business coaching sessions with seasoned experts. These aren’t generic discussions; they’re in-depth, tailored consultations aimed at understanding the unique dynamics of your business. With guidance from a dedicated coach, business owners can navigate their industry’s intricacies with confidence.
  1. Peer Advisory: Perhaps the most distinct aspect of The Alternative Board is its peer advisory boards. These are groups of like-minded, non-competing business owners who come together in a trusted environment to share insights, challenges, and opportunities. It’s a space for vulnerability, where business challenges are tabled, dissected, and solutions are collaboratively crafted. The collective wisdom of diverse business minds proves invaluable, providing fresh perspectives and actionable advice.

In summary, by melding these three components, The Alternative Board provides an environment where business owners don’t just survive – they thrive. In a world where decisions can make or break success, having a boardroom full of experienced peers and experts can be the game-changer Kiwi businesses need. Additionally, one of the most cited benefits by members of The Alternative Board is the sense of accountability it fosters within the group. This accountability to fellow board members not only drives performance but also promotes a deep commitment to business excellence.

Understanding Peer Advisory

Peer advisory component of The Alternative Board, is a gathering of like-minded business owners and professionals who provide each other with advice, insights, and perspectives, essentially forming an advisory board for one another. Within the framework of The Alternative Board, the peer advisory element is where the magic truly happens. Here, individuals bring diverse experiences to the table, offering a rich tapestry of knowledge and insight.

Russell Eastwood talks about The Alternative Board

The variety of businesses and experiences within The Alternative Board is its strength. While having the right people in the group is important, we celebrate the diverse perspectives each member brings. This variety ensures that challenges are viewed from different angles, unveiling solutions one might not have considered on their own. While we ensure members are non-competing, the blend of personalities and industries enriches discussions, making them open, honest, and uniquely insightful.

It’s rare for business owners to have a space where they can be truly vulnerable, openly discussing challenges without judgment. Yet, this vulnerability is often the catalyst for breakthroughs. The peer advisory boards provide that much-needed safe haven. Here, owners can shed their protective business armour, share their concerns, and lean into the collective wisdom of the group. The non-judgmental feedback received is invaluable, offering perspectives that one might not have considered on their own.

Structure of a Typical Peer Advisory Board

A typical board meeting follows a structured yet flexible format. Meetings begin with updates from members, so that everyone is aligned and aware of current happenings. As the meeting progresses, members present their specific challenges or opportunities to the group. Through a process of questioning and curiosity, the issue is explored in depth. Members then offer insights, share experiences, and suggest potential solutions. No member is obligated to take on every piece of advice given, but they commit to actions and, in subsequent meetings, report back on their progress.

In essence, the peer advisory boards are more than just meetings, they are powerful gatherings of collective wisdom, fostering growth, accountability, and genuine support.

The Real-World Impact of Joining The Alternative Board

Joining The Alternative Board as member transcends the confines of conventional business networking or mentorship. It’s an immersion into a rich ecosystem of diverse business knowledge and experience. As a member, you’re not just gaining access to a board; you’re entering a business community that is deeply invested in your success. The value is tangible, with many members noting accelerated business growth, clearer strategic direction, and enhanced decision-making capabilities post-joining.

Group of business owners participating in a peer advisory board

It’s natural for potential members to harbour apprehensions. “Will I fit in? Will my business be judged? Can such a board truly understand my unique challenges?” At The Alternative Board, we acknowledge these concerns. However, our track record and the positive feedback from our existing members act as testament to our approach’s efficacy. Our structured, yet adaptive methodology ensures that every member’s voice is heard. In summary, we want to ensure that every challenge is acknowledged, and every success is celebrated.

Are you interested in attending a sample board?

Perhaps the most profound advantage of joining The Alternative Board is the unconditional support members receive. The board is not just a group of business owners; it’s a collective of allies, each rooting for the others’ successes. Furthermore, diversity in industries, backgrounds, and experiences means that you’re exposed to a myriad of perspectives—offering solutions you might never have contemplated on your own. It’s this melting pot of ideas, combined with unwavering support, that propels businesses to new heights.

Ready to experience the transformative power of The Alternative Board? Talk to us about the opportunity to join a sample board session and see the difference for yourself. Your business journey doesn’t have to be a lonely one. With The Alternative Board, you’re surrounded by experts who’ve been there and done that. Get in touch with Eastwood & Co today and let’s turn your challenges into opportunities.