Why Every Leader Needs A Personal Board Of Advisors: Not Just A Mentor

Why Every Leader Needs A Personal Board Of Advisors: Not Just One Mentor

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One of the most impressive boards on which I have served was not a board of directors, but a board of advisors. I had some experience creating a personal board when working in higher education, but the most valuable one I have seen came from the former CEO and Chairman of DocuSign, Keith Krach. That board disbanded after he left the company, but it included a who’s who of leaders and experts. Keith is a master at networking and surrounding himself with people who have diverse experience. He knew the value of creating a personal board of advisors was nearly as important as having a board of directors. He recognized that the smartest leaders don’t rely on just one mentor. They surround themselves with a group of people they can count on to give honest feedback, share new perspectives, and help them see what they might be missing.

What A Personal Board Of Advisors Actually Does

A personal board of advisors brings together people who challenge your thinking and give you access to industries and perspectives you might not have considered. Keith once told me that the best leaders surround themselves with people who are smarter than they are and who see the world differently. Having that range of perspectives helps you make decisions grounded in reality instead of assumption. He has always been humble, even though he was probably smarter than most people in the room. Just because he was smarter didn’t mean he had access to everything the board members had or the experiences they had. That humility made him the smartest person there because he didn’t let ego get in his way.

Why Every Leader Needs A Board Of Advisors Instead Of Just One Mentor

Most people find a single mentor, but one person rarely has all the answers. A board of advisors gives you more balance. You might have one person who knows your industry inside out. Another might understand human behavior. Someone else could work in an entirely different field and offer a new point of view. The mix matters. Diversity of thought prevents complacency and helps you avoid repeating the same patterns that limit growth.

In advisor groups, everyone can offer insight into different ways to approach leadership challenges. Military leaders might share lessons on discipline and resilience. A psychologist or business behavioral expert might focus on motivation and emotional intelligence. Media experts can give access to platforms and strategies that help leaders reach their audience. That combination of perspectives can create insights you would never gain on your own.

The Value Of Mentors And A Personal Board Of Advisors

A mentor and a personal board of advisors each serve a unique purpose. A mentor provides focused one-on-one guidance, sharing personal lessons learned from experience. The mentor relationship is often more personal, with trust built over time and advice that is tailored to a specific stage or challenge in your life or career. Mentors can help you navigate individual decisions, strengthen specific skills, and stay accountable to your goals.

A personal board of advisors, on the other hand, expands that relationship into a network of perspectives. While a mentor might help you refine a skill, your board of advisors helps by bringing different viewpoints, diverse expertise, and a broader range of feedback that you might not get from a single person. The most effective leaders have both. They seek the personal insight of mentors while learning from the strategic range of their advisory board. The two complement each other, creating both depth and breadth in professional growth.

How To Choose The Right People For Your Board Of Advisors

When I was the MBA Program Chair at the Forbes School of Business & Technology, I built a different kind of board of advisors because my job required a different focus. I needed people with expertise in marketing, entrepreneurship, finance, and other real-world areas that could improve curriculum design. The key was finding people who could contribute something I didn’t have. Each industry needs its own unique insights.

Building a personal board of advisors starts with self-awareness. You have to know your strengths and weaknesses before deciding who should be on your board. Ask yourself where you need growth and who you admire. Your advisors should include people who can tell you what you need to hear, not just what you want to hear. You might not be able to get the biggest names in business, like Keith did, but you can start by finding people in diverse industries with unique perspectives. It’s important to include people outside your immediate circle. When everyone around you thinks the same way, it becomes harder to see new possibilities. People from different backgrounds, generations, or industries can offer insights that challenge your assumptions and spark curiosity.

How To Make Those Relationships Work For A Personal Board Of Advisors

A personal board is not a formal committee, and they don’t have fiduciary responsibility like a board of directors. Since they are not paid, you need to make it worthwhile for them to participate in other ways. In the DocuSign case, it was an honor to serve with leaders from companies like AT&T, Dow Jones, ReMax, Xerox, and the NBA, as well as a shark from Shark Tank. That was an exceptional board, and Keith Krach earned it through his leadership and accomplishments.

Start small and focus on relationships that feel genuine. Many people are open to offering free mentorship because they want to give back. As your network grows, new advisors may be introduced through existing ones. This creates a ripple effect that broadens your learning opportunities and perspective. The best relationships develop naturally through respect and curiosity. When meeting with advisors, ask questions that invite reflection, such as “What would you do if you were in my position?” or “What am I missing?”

You will gain the most meaningful conversations if you share your challenges and not just your achievements. When you show vulnerability, it encourages your board to offer honest feedback and builds mutual trust. It also demonstrates that you care more about achieving growth than protecting your image. It’s an opportunity to listen with openness and gain insight that others miss when they only seek validation.

Why A Personal Board Of Advisors Fuels Curiosity And Growth

Surrounding yourself with thoughtful advisors strengthens curiosity. Every conversation is a chance to see the world through someone else’s eyes. That exposure keeps your perspective open and helps ideas evolve. It’s easy for leaders to become isolated by their own experience. A board of advisors keeps you grounded and helps you discover new opportunities. In today’s world, no leader can afford to operate in isolation. The most successful people I know stay humble, curious, ask for advice, and surround themselves with people who make them better. Combining mentorship with a personal board of advisors keeps leaders both grounded and visionary, creating the balance that drives meaningful, lasting success.