Think two heads are better than one? Trevor Currie, president of Podium Communications Consulting in Toronto, believes seven is more like it. Currie, whose company helps executives hone their public speaking skills, has a six-person advisory board that helps him fine-tune his ideas and develop business strategies - all on a no-fee, voluntary basis.

"Having an advisory board has been tremendously helpful to me and my business," he says. "They've helped me check my rationale and the clarity of my thinking, ensure my progress by making me accountable to them, and given me the confidence and energy to pursue the vision of my company."

Circle of friends
So how did Currie go about building his advisory board? With, literally, a little help from his friends. "I looked at my pool of friends and said who's got something to contribute and who's willing to contribute?" says Currie. "Most importantly, who can complement my strengths with their strengths?"

A mix of experts
Currie also looked for a cross-section of experience and expertise. As a result, his board of advisors ended up being comprised of two lawyers, an advertising copywriter, a former strategist for the Ontario government, a business management strategy expert, and a specialist in mergers and acquisitions who works for one of the Big Four accounting firms.

"One of my advisors who is a Bay Street lawyer incorporated my business and effectively discounted his time," says Currie. "So I got the quality of a big Bay Street firm at a very reasonable price."

Meanwhile, the other lawyer on Podium's board took a standard Terms of Payment agreement and customized it to Currie's business, while the copywriter wrote the company brochures.

"They didn't charge me for anything," says Currie. "I was really grateful for that."

They've got to believe
In addition to looking for a good cross-section of fields, Currie also went with people whom he felt truly believed in him and his business. And the more they learned about Podium, says Currie, they more they rooted for him to succeed.

"They're out there recommending me to people," he says. "They've been a constant source of referrals right from the start."

Currie says his advisors' strong belief in his business motivates them to invest whatever time they can to help Currie grow the company. But Currie is always careful to be sensitive to his advisors' time. He goes to see them instead of expecting them to see him, and doesn't ask for too many group meetings. "Everybody's busy, so I mostly meet with them individually," he says.

Don't forget to give back
Although he knows his advisors expect nothing in return, Currie nevertheless makes a point of taking them, along with their spouses, out to regular dinners. Without the help of his advisors, says Currie, Podium Communications might not be where it is today.

Since it opened for business four years ago, Podium has gone from a client roster of three in its first year to more than 50 today. Currie, who began working out of his apartment, now has an office in downtown Toronto and boasts an elite clientele that includes the country's top litigation lawyers and ad agency executives.

"If I could do it all over again, I would do the same thing and create the same board of advisors," he says. "But there is one thing I would do differently: I'd use my board of advisors more often."