Major mistakes made with appointing to the board are appointing uninterested or unqualified people, and not using the talent and experience of individual board directors often out of fear that they will attempt to take over the operations of the company. That is rarely their desire. They have more than enough to do. Further, they are large shareholders, they can influence control anyway. It is best to become close associates and let them be friendly advisors.
Trade associations are one of the greatest sources of information, yet one of the most ignored.
Nearly every industry has some kind of association. These usually publish monthly or quarterly journals, often full of good industry information and advice. Further, an inquiry to their head office can get you back issue articles on almost any industry subject, usually at low cost. Such annual industry reviews can become your industry analysis, saving you thousands of dollars in time. Service clubs such as the Lions, Rotary, Shriners or Kiwanis are excellent sources for meeting other company managers, executives, or specialists.