September 2014 Newsletter: Mac-OU INC Positive Impact: "Business Advisory Board Expansion of Services"

Mac-OU INC’s Business Advisory Board (BAB) program is undergoing an expansive revamp to more specifically address each small business’ needs. Now known as the Business Advisory Services program, separate components not only include the Boards, but also Business Advisory Mentors and the Business Advisory Virtual Community.

Business Advisory Board

Each client company will be evaluated to determine if a BAB is the optimum method for growth assistance. BAB’s typically consist of three to eight volunteers and one chairperson, depending on the client’s needs. Once the client’s needs are assessed and identified, our staff contacts volunteers to create a dedicated BAB that meets on a consistent basis. Typically, a BAB lasts for a two to three year period, although shorter durations often occur depending on the situation surrounding a specific client company. BAB volunteers’ primary responsibilities include attending three to four meetings per year, either on-site or via teleconferencing, which adhere to specific agenda topics and last for approximately two hours; signing a non-disclosure agreement to protect proprietary and confidential information; counseling in areas of expertise and providing relevant and constructive advice and recommendations to the client company; assisting in networking the client company to key resources within the region and community; and coordinating feedback and recommendations with the BAB Chair or Mac-OU INC staff.

Business Advisory Virtual Community

The Business Advisory Virtual Community is open to all Mac-OU INC clients and Business Advisory Services volunteers. Through a private email forum administered by a Mac-OU INC staff member, clients will have the ability to ask questions of the volunteers. The new questions, as well as the answers to prior questions, will be emailed out to all clients on a bimonthly basis (dependent on activity).

Business Advisory Mentors

For client companies needing more one-on-one assistance than an entire BAB, there is the alternate option of selecting a Business Advisory Mentor. This strategically-selected volunteer will provide consistent mentoring over a three-month period, working with the client company to establish milestones, review achievements and address any issues.

Mac-OU INC’s Business Advisory Services are made possible by the dozens of volunteers dedicated to assisting the small business community of Southeast Michigan. Volunteers consist of well-rounded senior executives from a broad section of industries, with the combined expertise and experience needed to assist a client company in identifying and addressing specific business issues and opportunities. These subject matter experts in their respective fields are selected for service needs based on each client company focus, objectives and plans for growth. Volunteers provide advice and counsel; they have no direct fiduciary, management, governance or financial responsibility for a client company.

Volunteers have the opportunity to network with other senior executives, influence the successful growth of a startup or small company, and help in increasing employment in the local economy. Michigan’s success is based on the jobs created as small companies expand and grow into larger businesses. Numerous comments from previous and current volunteers attest to the personal satisfaction they have realized in giving back to the community.

Business Advisory Service applications can be obtained by calling the Macomb-OU INCubator at (586) 884-9324 or emailing to macINC@oakland.edu. A Mac-OU INC staff member will contact you to review your application.