Quora Answer: How Many Business Advisors Do You Need?

The following is my answer to a Quora question: “How many business advisors do you need?” 

Many companies fill their boards with “business advisors” for strategic reasons, access to markets and networks, for marketing and branding purposes, and many other reasons other than for their actual advise.  But if you are talking about an actual business advisor, you only need one.  Having more than one business advisor would mean conflicting advise, confusing the board, and perhaps, paralysing them into inaction. 

Just as a ship needs only one captain, it is preferable to have only one business advisor.  Some may believe that it is better to have several, so that there is a range of perspectives.  This is unworkable.  What happens is that some business advisors get sidelined, and it breaks that relationship.  People, by nature, are more agreeable to advisors that support their cognitive bias.  This would lead to a situation where these group of advisors, seeking approval out of self-interest, end up telling you what you want to hear, not what you need to hear.  Comfortable in the wisdom of these advisors, mistakes are then made.