One tactic I recommend to small business owners is to establish your own board of directors. I don’t mean a formal, legally-constituted board of directors, I mean a group of business and professional advisors whose opinions you respect and whom you will really listen to. Your lawyer, accountant, and banker are candidates for your board, along with one or two other business people. Invite them to a board meeting to review your business. Treat them to something special, a good dinner or something similar. Prepare for the board meeting like the CEO of a public corporation might. Prepare a briefing about your business and provide it to them in advance of the meeting. Prepare a formal presentation about the state of your business and the different directions you are considering. Solicit their candid input and listen. At the very least, carefully consider the thoughts of those you trust most.

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