External board members are a good way to harness expertise to help the entrepreneur. Even so, the opportunity is used in only 14 percent of SMEs. However, during the last two years, the Southern Ostrobothnia Chamber of Commerce has already managed to activate board work in 20 local companies. Among other things, Ilmajoki Teräsputkikaluse, which won the KasvuOpen competition, now swears by the name of the Advisory Board. According to Sales Director Jussi Eväsoja, it was worth starting the renovation for many reasons.
- I think the most important thing is that you get feedback for your own thoughts. Although he imagines that he knows business the best, when talking with outsiders, his ideas are strangely refined, praises Eväsoja.
Half a year ago, the family business hired two experts as members of the Advisory Board. According to Eväsoja, it has significantly activated the company's development work and clarified operations.
- Our second day of sparring also coincided with a golden time at the beginning of March. We immediately got to mirror the situation caused by the corona crisis and its risks. These days you can't splurge. The focus must be there, and the experts helped with that, he emphasizes.
A tool for the acquisition of specific expertise
The founding of the Advisory Board got the initial impetus when the project manager of the Chamber of Commerce Matti Sepponen contacted the company and presented the idea of activating board work. Eväsoja was immediately enthusiastic and the initial analysis was done by interviewing. This made it clear what kind of expertise is needed in the company. In the end, suitable professionals were found through the company's own network.
- Now he brings solid know-how to the export side Juha Lahtinen, who has worked for both Viexpo and a competitor of Teräsputkikaluusten. Business angel and business developer Ilkka Sillanpää is, on the other hand, a familiar man from his student days, explains Eväsoja.
The good experiences make Eväsoja recommend the efficiency of board work to other companies as well. In addition to professional skills, networks develop, the importance of which cannot be overemphasized in today's business world. When choosing an expert, he recommends paying attention to personal chemistry.
- There is no need to look for a mirror image of yourself, but the conversational connection must be good, he advises.
Keeps up to date in situations of change
In addition to Ilmajoki's Steel Pipe Furniture, the acquisition of know-how has also been found to be useful in other companies activated through the Governments to Work project. According to project manager Matti Sepponen, the board should be strengthened especially in situations of change and when considering strategic decisions.
- For example, in connection with a change of ownership or generation, external help makes decision-making more difficult. When things are thought about with the company's interest in mind, it benefits both the person who quits and the person who continues, he sums up.
You can search for suitable people, for example, through Hallituspartnerit ry. Only professionals with a sound theoretical background and sufficient experience in board work are accepted for the lists.
- Up to now, every company has found people coming through it. However, the situation is similar to recruitment, and the company has the power to decide on the selection, Sepponen advises.
Pilot project for duplication
The successful work of the Southern Ostrobothnia Chamber of Commerce has aroused widespread national interest. The project won the Society category of the Tuotova Idea competition organized by the Finnish Youth Chamber of Commerce. The thanks have come from the fact that, in addition to increasing the professionalism of the boards, Sepponen has succeeded in launching several cooperation projects between companies.
Next, the pilot project financed by Liiver and Leader Suupohja will be replicated in the entire province as well as Central Ostrobothnia and Kalajokilaakso. Chambers of commerce in Satakunta and Häme have also benchmarked the model.
- Many governments are now thinking about the future and strategies. The corona crisis will push everything past, but when we get to make longer-term policies again, I recommend all owners to set their own target state, and after that get a professional board to think about how to reach the goals, Sepponen encourages.
In addition to Liiver and Leader Suupohja, the Chamber of Commerce's pilot project was financed by the Southern Ostrobothnia Chamber of Commerce, the Ostrobothnian Chamber of Commerce, the Southern Ostrobothnia Entrepreneurs and Governmental Partners Pohjanmaa ry. The project won the Society category of the Tuotova Idea competition organized by the Finnish Youth Chamber of Commerce.