Between now and April, 118 pro football players (with an avg. annual income of $1.4 million) will be attending an two-week “financial boot camp” at places like Harvard business school.  According to a story in today’s New York Post, it gives the players tips for how to transition from making big money in sports to making big money in the business world.

Such advice helps.  Examples: Former Bronco QB John Elway is doing well as owner of a car dealership, as is former baseball star Bill Buckner (Buckner’s dealership is just over the hill from where I live).  

Can’t take two weeks off to get such sage advice? In my newspaper column from Feb 7 I advocate small business owners create informal advisory boards.  All it takes is inviting a few trustworthy professional acquaintances to get together and speak to your business once a quarter or so. Greg, one person I know who does this (besides me), says “Their insights are invaluable.” 

Bottom line: Just because we don’t take home $1.4 million a year doesn’t mean we shouldn’t seek valuable advice.  For more tips on advisory boards there’s also an NFIB article with some good ideas.  It’d be interesting to hear other thoughts on this, be they pro or con.

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Filed in Business, Opinion, Leadership