I want people who can be totally open. The board isn't taken seriously. This scenario is also played out too frequently. If you put together a board of strong, independent people and don't listen to what they have to say, quality people will just walk away from the task. Board members may not make decisions, but they are invaluable when it comes to influencing, fine-tuning and validating the business.
Critical information is withheld from the board.
Leery business heads can sabotage an advisory board by not providing members with enough information to make valid suggestions or provide useful insights. Board members aren't properly compensated. Fees for board members vary significantly, and compensation often goes beyond financial remuneration. They are flattered by being thought of as a valuable asset. They like the opportunity to network with other knowledgeable people.