6 benefits of building a robust advice network

Advice becomes more critical as your career advances. Here are six key benefits of building an effective advice network and tips on how to find your advisors.

1. Broaden perspective

An advice network introduces diverse viewpoints, helping you see issues from multiple angles and consider solutions you might overlook.

2. Enhance decision-making

Access to a variety of expert opinions can help you make more informed decisions.

3. Catalyze innovation

Exposure to different ideas and perspectives can spark innovation within the organization, leading to breakthrough solutions.

4. Mitigate risk

Advisors with specialized knowledge can help you navigate legal, financial, and operational risks more effectively.

5. Support personal growth

Interacting with diverse advisors challenges you to think differently and continually learn, fostering personal and professional development.

6. Provide emotional support

A network of trusted advisors can provide much-needed emotional support and a safe space to discuss challenges without judgment.

Understanding the different types of advisors

Technical advisors provide expert analysis of cutting-edge technologies, global markets, and corporate strategies. These include in-house experts and external industry leaders, academics, and consultants.

Political counselors help you deal with the complex relationships within your organization and with external stakeholders and serve as a sounding board for implementing significant changes.

Utilizing multiple sources

Trusted family members and friends form a personal, portable network of invaluable emotional support and a grounding influence.

External advisors such as executive coaches, mentors, and other professional consultants provide objective feedback and help you develop advanced leadership skills.

Internal organizational advisors provide key general insights on the company’s culture and operations as well as specific insights into your current role.

Key learning

Integrating diverse perspectives through your advice networks helps you cultivate more innovative solutions and adapt better to dynamic market conditions.

Michael Watkins

Professor of Leadership and Organizational Change

Michael D Watkins is Professor of Leadership and Organizational Change at IMD, and author of The First 90 Days, Master Your Next Move, Predictable Surprises, and 12 other books on leadership and negotiation. His book, The Six Disciplines of Strategic Thinking, explores how executives can learn to think strategically and lead their organizations into the future. A Thinkers 50-ranked management influencer and recognized expert in his field, his work features in HBR Guides and HBR’s 10 Must Reads on leadership, teams, strategic initiatives, and new managers. Over the past 20 years, he has used his First 90 Days® methodology to help leaders make successful transitions, both in his teaching at IMD, INSEAD, and Harvard Business School, where he gained his PhD in decision sciences, as well as through his private consultancy practice Genesis Advisers. At IMD, he directs the First 90 Days open program for leaders taking on challenging new roles and co-directs the Transition to Business Leadership (TBL) executive program for future enterprise leaders, as well as the Program for Executive Development.