You are leading a growing company or facing a range of challenges. Opportunities are multiplying, decisions are becoming more complex, and your team is already stretched. You have experience and a clear vision. Yet one question may remain: who can you turn to when you need an external, objective, and constructive perspective?

An advisory committee can become a valuable ally. The need often arises when a company reaches a turning point: growth, increasingly complex strategic decisions, financing needs, succession, entry into a new market, or a major transformation — all situations where an experienced external perspective can help leadership take a step back. Its mandate can be ad hoc or ongoing.

‍

Neither a Board of Directors nor an Informal Group

An advisory committee brings together individuals selected for their experience, expertise, or knowledge of relevant issues. Its role is to advise leadership, ask the right questions, share perspectives, and support decision-making.

Unlike a board of directors, it does not govern the company and generally has no decision-making authority. It replaces neither management nor the board of directors. Rather, it creates a structured and flexible forum for reflection, tailored to the company’s needs.

‍

An Outside Perspective That Helps You See Things Differently

When you work in a company every day, certain ways of doing things naturally become ingrained. Assumptions are challenged less often, and the same people tend to participate in the same discussions and reflections. This is common, but it can limit the ability to identify blind spots or develop new strategies.

Advisory committee members bring a different perspective. They can challenge a strategy that may seem obvious, identify an underestimated risk, or suggest an avenue the team had not considered.

Their contribution often lies in the quality of the questions they are asked:

·      What are we not seeing?

·      What assumptions is our decision based on?

·      Have we heard from the right stakeholders?

·      Is this direction aligned with our priorities?

·      What would we do differently if we were starting from scratch?

These questions create perspective and enrich decision-making.

‍

Choosing the Right People at the Right Time

An advisory committee does not need to be large to be effective. Its value depends primarily on having the right mix of members.

Before recruiting members, the company should clearly define what it is looking for. Does it need industry expertise? Experience in growth, financing, market development, human resources, digital transformation, or governance? Is it looking for people who can open doors, or rather individuals who can challenge management’s thinking and practices?

Complementarity is essential. A committee made up solely of people who share the same background or perspective may simply reinforce existing ideas rather than help them evolve.

It is also important to seek out people who are willing to speak with courage and candour while respecting the company’s reality. A strong committee member knows how to ask difficult questions without trying to take management’s place.

‍

A Light but Meaningful Structure

Because it is advisory in nature, this type of committee may seem simple to establish. However, without a minimum level of structure, meetings can quickly become interesting but ultimately provide little value.

The mandate must be clear. Expectations, topics to be discussed, meeting frequency, confidentiality, and term lengths should be defined from the outset. Meetings should also be well prepared, with clear objectives, information shared inadvance, and follow-up on recommendations.

Finally, leadership must be prepared to hear different perspectives that may prompt further reflection before taking action. Creating a committee solely to validate decisions that have already been made significantly limits its value.

‍

A Few Questions to Consider Before Getting Started

·      What issues do we want to better understand?

·      What expertise is missing around the table?

·      Are we genuinely open to discussion and having our thinking challenged?

·      How will we use the committee’s recommendations?

·      How will we evaluate its contribution after one year?

Advisory committees are certainly not reserved for large companies. They can be particularly valuable for SMEs, family businesses, and growing companies looking to strengthen their strategic capabilities without adding unnecessary complexity to their governance.

‍

Point Cardinal supports companies in designing and implementing effective advisory committees tailored to their specific realities. This support can include clarifying the committee’s mandate, identifying the expertise required, defining its operating structure, recruiting members, as well as facilitating and evaluating the committee.

When well designed, an advisory committee does not make decisions for you. It helps you make better decisions with greater perspective, depth, insight, and confidence.

‍

Violaine Des Roches, Collaborator

Ginette Paquin, Collaborator

‍