Reply To: Hi, I have a small business that makes reusable food packaging. We are one year old and have been making everything by hand. We have approximately 20 stockists in NZ and are keeping up with the demand. We have recently received offers from companies overseas wanting to act as distributors in UAE, Japan and UK. We believe these are genuine as we have a product that is a world first. We have the funds to invest and grow, but currently we are super small and just working out of a garage so this is difficult for us to get our heads around as to how we will manage this. Our product is also able to be copied very easily but we do have the advantage of a strong story and brand. So essentially we are out of our depth but don’t want to miss out on these opportunities. One thing I have thought of doing next week is trying to throw together an advisory board. What advice can you offer us? Thanks in advance. 

Hi there – As your business grows and you start to see more opportunity (particularly those with an international context), getting a set of eyes, or group of eyes with industry insight, expansion, risk mitigation and perhaps some general governance is a great practice to help you navigate your strategic plan, blind spots and a sounding board to guide your growth. Find a mentor you can trust, be open and transparent with and someone who can also perhaps bring some industry vertical (logistics, sales, manufacturing) expertise. The success rate of mentored small businesses compared to those without a mentor is stunning: 70 percent of mentored businesses survive more than five years, double the rate for non-mentored small businesses over that same period. Think about it this way – would you climb Everest without a sherpa to guide you? Good luck and best wishes – you are on the right track by just asking – Im sure there are many others here that can support.