What is the ANCHOR Method? ‘C’ is for Communicate
Throughout my 20+ year career in business-building and managing investments, I’ve understood that the more diverse a board is, the more power it has.
A diverse board will bring a variety of perspectives and relationship capital to your business, propelling growth and achieving change.
In my book, Build Your Board, Build Your Business, I teach the ANCHOR method, which you can utilize as a tool for developing a board strategy that will indeed build your business from the ground up.
Why C is for Communicate
The third letter in ANCHOR stands for Communicate. If you’ve come this far, I know that you’ve spent time Assessingwho you are as the leader of your business, and Networking to identify new partnerships to help grow your board. Now, you need to invest your time by communicating with your board to help minimize surprises and clearly forecast whatever is coming down the road.
Watch me speak more about this:
This part in ANCHOR is all about preparing your board for anything by communicating with them frequently. Talking with your board on a regular, consistent basis is truly a measure of remarkable value for your business.
Getting in touch with your board is a vital transfer of ideas, feedback and even potential roadblocks.
When you’re connecting with your board members regularly, it’s a lot like driving a car. You can see the traffic signs and potholes clearly in front of you, and can effectively navigate those roadblocks, ultimately leaving them behind in your rearview mirror. You prepare and navigate for these ‘roadblocks’ via perpetual, healthy communication.
I do this in my own career. For example, I speak with the CEOs of one of the companies I advise on a weekly basis. It’s an incredibly beneficial tool for us to use in preparation for anything, because no-one likes surprises, do they?
We all like to have the relevant materials in advance, instructions written out, and a heads-up on any potential issues that may arise. Frequent communication helps us accomplish those goals.
Remember, communication is a tool that you need to invest in.
Putting in the hard work to improve your communication will yield huge benefits for your business, and learning to communicate well will undoubtedly pay dividends. In Build Your Board, Build Your Business you’ll find assessments and resources that you can begin using to strategize better communication for building an effective board.