Greater Yield Launches Corporate Advisory Practice
Firm to serve and develop advisory boards for small and medium-sized businesses
DALLAS – Aug. 21, 2012 – Greater Yield, a Dallas-based provider of business transformation solutions, announces its new corporate advisory practice, which aims to help small- to mid-size businesses develop advisory boards. According to Debbie Womack, Greater Yield principal, assembling an advisory board may be the most important step a CEO or owner can take to assure a company's success.
“As operations begin to go beyond the reach of its officers, an advisory board may serve as an effective tool in ensuring the company is moving in the right direction,” said Womack. “Advisory board members can offer useful suggestions based upon research and experience and provide non-biased counsel to guide management as they make decisions critical to strategic business growth and development.”
Unlike a board of directors, which has formal legal authority over a company and a fiduciary duty to its shareholders, an advisory board acts in a capacity to help business owners make sound, strategic business decisions that determine the direction of the company.
The corporate advisory practice enables Greater Yield experts to act as advisory boards for clients, or to help clients select the right members for their board. To compose the ideal advisory board, Greater Yield suggests adhering to the following guidelines:
- Include three to five outsiders
- Members shouldn’t make their living from the business
- Don’t include friends, family or anyone with an emotional interest in the business
- Don’t include professional advisors, such as lawyers, accountants and bankers, unless their fields dominate the company’s strategy
“Greater Yield can help define a company’s key success factors and the strategic challenges the company will face,” said Jim Taylor, principal of Greater Yield. “We’ll create a board at the level you want to go, rather than the level where you are. We are also skilled at selecting board members who have experience building a business, not merely running one.”
And as an interim or long-term solution, Greater Yield experts can also sit on a company’s Advisory Board to play that role. “Our principals and knowledge leaders have all had real experience at the helm of companies, so we understand the decisions and that have to go into their long-term growth and development,” added Taylor. “This is another aspect of the Corporate Advisory practice that gives us a value-added role with clients we serve.”
About Greater Yield: Greater Yield provides innovative performance-improvement solutions for critical and complex business issues. A woman- and veteran-owned company, Greater Yield offers senior-level experts who work with organizations as trusted partners who empower ROI-driven changes, transfer knowledge and deliver measurable outcomes enterprise-wide.