Commonsense 101 says that having more information and insight about your customers and prospects is a good thing. Commonsense 102 says that talking with your customers and prospects is a good way to get more information and insight. (There are many ways to talk with your customers so don't feel bad if you don't use CABs. It doesn't mean you don't have commonsense. But I'm sure you have the good sense to know that already.)

My introduction to CABs came from a client who conducts them. (Note the partial disclosure here.) Since then, however, I've learned a lot on my own and you can, too. By Googling the term "customer advisory boards" you will find a number of resources, including several firms that perform similar services. That you won't find a lot of resources is in itself a tip-off. Not enough growing companies are leveraging the value of CABs as the sustainable competitive advantage they can be.

CABs can be good for creating new products over time, for example, because they give the people who will buy those products--the actual, honest-to-gosh customers--a seat at the table right from the beginning.

CABs, in fact, are good for many other things, too, and they work for companies at nearly any stage, including start-ups that don't even have customers yet. (They use prospects instead.).

As generally practiced these days, a CAB is a group of perhaps ten to fifteen customers that meet face-to-face in a professionally designed and facilitated session to keep a company up to date on their current and future needs and interests, to inform on industry trends, and to review ideas and initiatives. Best used for strategic purposes, they are usually run by trained facilitators.

Yes, you can conduct them yourself, and companies do. But then commonsense rears its simpleminded head again. You probably won't get as much out of a board session if you're running it. Still, it won't be without value, and it will show your customers that you're serious about their interests.

Here are few more ways CABs can be helpful: more customer referrals, increased loyalty, competitor information, better customer service, and increased sales, especially from the board members themselves.

So, if CABs are all that great, why don't more companies use them?

There are many good and varied reasons, of course, but the usual suspects can be rounded up quickly: time and money. The downside is especially important for a growing company with limited resources to consider. CABs can cost several thousand dollars and take up valuable time over and above the session itself, time that might be better used elsewhere to develop your business. That's a resource allocation decision that only you and your team can make.

But your good sense probably already told you that, too.

And if you think it makes sense to blog some more about CABs, let us know what you'd like to know, and we'll do our best to oblige.

Commonsense 101 says that having more information and insight about your customers and prospects is a good thing. Commonsense 102 says that talking with your customers and prospects is a good way to get more information and insight. (There are many ways to talk with your customers so don't feel bad if you don't use CABs. It doesn't mean you don't have commonsense. But I'm sure you have the good sense to know that already.)

My introduction to CABs came from a client who conducts them. (Note the partial disclosure here.) Since then, however, I've learned a lot on my own and you can, too. By Googling the term "customer advisory boards" you will find a number of resources, including several firms that perform similar services. That you won't find a lot of resources is in itself a tip-off. Not enough growing companies are leveraging the value of CABs as the sustainable competitive advantage they can be.

CABs can be good for creating new products over time, for example, because they give the people who will buy those products--the actual, honest-to-gosh customers--a seat at the table right from the beginning.

CABs, in fact, are good for many other things, too, and they work for companies at nearly any stage, including start-ups that don't even have customers yet. (They use prospects instead.).

As generally practiced these days, a CAB is a group of perhaps ten to fifteen customers that meet face-to-face in a professionally designed and facilitated session to keep a company up to date on their current and future needs and interests, to inform on industry trends, and to review ideas and initiatives. Best used for strategic purposes, they are usually run by trained facilitators.

Yes, you can conduct them yourself, and companies do. But then commonsense rears its simpleminded head again. You probably won't get as much out of a board session if you're running it. Still, it won't be without value, and it will show your customers that you're serious about their interests.

Here are few more ways CABs can be helpful: more customer referrals, increased loyalty, competitor information, better customer service, and increased sales, especially from the board members themselves.

So, if CABs are all that great, why don't more companies use them?

There are many good and varied reasons, of course, but the usual suspects can be rounded up quickly: time and money. The downside is especially important for a growing company with limited resources to consider. CABs can cost several thousand dollars and take up valuable time over and above the session itself, time that might be better used elsewhere to develop your business. That's a resource allocation decision that only you and your team can make.

But your good sense probably already told you that, too.

And if you think it makes sense to blog some more about CABs, let us know what you'd like to know, and we'll do our best to oblige.

Commonsense 101 says that having more information and insight about your customers and prospects is a good thing. Commonsense 102 says that talking with your customers and prospects is a good way to get more information and insight. (There are many ways to talk with your customers so don't feel bad if you don't use CABs. It doesn't mean you don't have commonsense. But I'm sure you have the good sense to know that already.)

My introduction to CABs came from a client who conducts them. (Note the partial disclosure here.) Since then, however, I've learned a lot on my own and you can, too. By Googling the term "customer advisory boards" you will find a number of resources, including several firms that perform similar services. That you won't find a lot of resources is in itself a tip-off. Not enough growing companies are leveraging the value of CABs as the sustainable competitive advantage they can be.

CABs can be good for creating new products over time, for example, because they give the people who will buy those products--the actual, honest-to-gosh customers--a seat at the table right from the beginning.

CABs, in fact, are good for many other things, too, and they work for companies at nearly any stage, including start-ups that don't even have customers yet. (They use prospects instead.).

As generally practiced these days, a CAB is a group of perhaps ten to fifteen customers that meet face-to-face in a professionally designed and facilitated session to keep a company up to date on their current and future needs and interests, to inform on industry trends, and to review ideas and initiatives. Best used for strategic purposes, they are usually run by trained facilitators.

Yes, you can conduct them yourself, and companies do. But then commonsense rears its simpleminded head again. You probably won't get as much out of a board session if you're running it. Still, it won't be without value, and it will show your customers that you're serious about their interests.

Here are few more ways CABs can be helpful: more customer referrals, increased loyalty, competitor information, better customer service, and increased sales, especially from the board members themselves.

So, if CABs are all that great, why don't more companies use them?

There are many good and varied reasons, of course, but the usual suspects can be rounded up quickly: time and money. The downside is especially important for a growing company with limited resources to consider. CABs can cost several thousand dollars and take up valuable time over and above the session itself, time that might be better used elsewhere to develop your business. That's a resource allocation decision that only you and your team can make.

But your good sense probably already told you that, too.

And if you think it makes sense to blog some more about CABs, let us know what you'd like to know, and we'll do our best to oblige.

Isaac Larian, President and CEO of MGA Entertainment, was named the 2007 Entrepreneur of the Year for the United States by Ernst and Young this past weekend. The black tie gala Saturday night in Palm Desert was host to 1500 entrepreneurs celebrating the 10 national category winners and finalists representing 26 U.S. regions.

MGA Entertainment is the largest privately held toy company in the world, most notably known for the top-selling Bratz line of dolls. Isaac's story is an inspiring one coming to the U.S. from Iran at the age of 17 with $750.

Isaac Larian, President and CEO of MGA Entertainment, was named the 2007 Entrepreneur of the Year for the United States by Ernst and Young this past weekend. The black tie gala Saturday night in Palm Desert was host to 1500 entrepreneurs celebrating the 10 national category winners and finalists representing 26 U.S. regions.

MGA Entertainment is the largest privately held toy company in the world, most notably known for the top-selling Bratz line of dolls. Isaac's story is an inspiring one coming to the U.S. from Iran at the age of 17 with $750.

Isaac Larian, President and CEO of MGA Entertainment, was named the 2007 Entrepreneur of the Year for the United States by Ernst and Young this past weekend. The black tie gala Saturday night in Palm Desert was host to 1500 entrepreneurs celebrating the 10 national category winners and finalists representing 26 U.S. regions.

MGA Entertainment is the largest privately held toy company in the world, most notably known for the top-selling Bratz line of dolls. Isaac's story is an inspiring one coming to the U.S. from Iran at the age of 17 with $750.