When and How to Build an Advisory Board That Actually Moves the Needle

Recently, I’ve been helping a number of scale-up businesses establish high-performance advisory boards. The reason is simple: when a business is moving into serious growth, an advisory board can be one of the most powerful levers to accelerate that progress. But only if it’s done right.

Many CEOs delay forming a board because they believe they can manage growth with their current team—or worse, they think of a board as little more than a box-ticking exercise. In reality, a well-structured advisory board brings the experience, external perspective, and strategic horsepower needed to help a company scale faster and more effectively than it could on its own.

So when should you form one? How do you ensure it adds value from day one? And what makes the difference between a board that delivers and one that drains time?

When to Build an Advisory Board

You don’t need a board at startup. At that stage, you're still validating the business model and product-market fit. But once you're in growth mode—typically post-revenue, post-validation—the story changes.

You’re ready for an advisory board when:

• You’ve achieved strong product-market fit, with a repeatable sales model
• Revenue is approaching or pushing past the £2M–£10M mark
• You’re setting your sights on £50M–£100M+ valuation, and need to scale towards it
• You’re preparing for funding rounds, acquisitions, or taking on structured debt
• You’re facing knowledge gaps in key areas such as exits, fundraising, M&A, or operational scale

If you’re thinking, “we’ve never done this before,” then it’s time to bring in people who have.

What a High-Impact Advisory Board Looks Like

The best advisory boards are designed with clarity and intent. They aren’t passive groups meeting once a quarter to review slides—they are dynamic, engaged, and deeply aligned to your most ambitious goals.

Here’s a proven approach:

1. Start With a Clear, Ambitious Target

Set a bold valuation goal—something that pushes the boundaries of what feels achievable. This becomes your guiding metric. Every strategic decision and discussion should align with reaching it. Without a compelling target, your board will lack direction.

2. Recruit Strategic Operators, Not Consultants

You want people who’ve built and scaled businesses, structured funding rounds, completed acquisitions, and steered operations through complexity. The ideal advisory board includes:

• Former private equity or venture partners
• CFOs and financial architects experienced in growth-stage funding
• Operational leaders with track records in scaling infrastructure and teams
• M&A specialists and deal makers
• Debt structuring experts from banking or corporate finance backgrounds

These individuals are in demand. Compensate them with a meaningful equity stake—typically 0.25% to 1%—vesting over 12 to 24 months. You’re not hiring consultants; you’re inviting strategic partners into your growth journey.

3. Establish a Quarterly Cadence With Substance

The most effective advisory boards meet four times a year, in full-day sessions, with dinner the evening before. That evening matters—it’s where relationships are built, and where honest, off-the-record insights are often shared.

Each meeting should include dedicated time for advisors to connect directly with their operational counterparts—finance with finance, operations with operations, product with product. This unlocks practical, hands-on input where it's most valuable.

The rest of the day is spent aligning on strategic goals, reviewing progress, and identifying key levers for the next quarter. These aren’t passive updates—they’re working sessions.

4. Involve Your Coach—And Make Them the Chair

The CEO should already have a business coach. That individual should play a central role in shaping the advisory board, attending every session, capturing key insights, and ensuring follow-up on agreed actions.

The coach acts as the link between discussion and execution. Without this role, insights risk being lost, and accountability drifts. With it, the board becomes a disciplined, results-oriented machine.

Making the Board Work for You

When properly set up, your advisory board will:

• Help you fund growth, through structured capital or debt strategies
• Accelerate your deal-making with strategic introductions and M&A insight
• Reduce risk by guiding you through decisions they’ve already navigated
• Open networks that would otherwise take years to access

These individuals are giving their time, energy, and insight. Recognise their contribution not only with equity, but also with personal touches—thanking spouses, acknowledging birthdays, or simply showing up with gratitude. Relationships are at the heart of a successful board.

Final Thought

The smartest CEOs aren’t those who have all the answers. They’re the ones who know when to bring in the right people to ask better questions—and drive faster progress. A well-composed advisory board is one of the most important structures you can build as you move from high potential to high performance.

If you’re serious about scaling, now is the time to invest in the group that will help you get there.