Check out this article "Tips for Creating an Advisory Board" from the FOX Small Business Center. http://tiny.cc/l0mp5
I agree entirely with the author on Boards of Advisors with one exception; I do not agree that members of the board should be expected to work for free. I think that there should be a board fee paid for each meeting and any extra work that they do. It may not be much, perhaps $500.00 per meeting. Without a fee being paid, you frequently just get what you pay for.
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