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    Brain Circuits

    6 benefits of building a robust advice network

    by Michael D. Watkins Published October 21, 2024 in Brain Circuits • 2 min read

    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. 

     

    Further reading 

    How Leaders Create and Use Networks 

    Five networking missteps to avoid  

    Gone, but not forgotten: How corporate alumni networks pay off 

    How to be an even better ally at work  

     

    Authors

    Michael Watkins - IMD Professor

    Michael D. Watkins

    Professor of Leadership and Organizational Change at IMD

    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.

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