The Power of Great Advisory Boards
A highly functional advisory board is critical to growing a business and completing corporate finance activities like fundraising!
6 Secrets to Getting A+ Advisory Board Members
Entrepreneurs often fall into the fatal trap of asking the wrong people to be on their advisory board. Entrepreneurship = time strapped. It is easy to scour existing network connections when assembling an advisory board. But that is missing the biggest benefit to assembling an advisory board! Advisory boards are terrific reasons to reach out and engage with people outside of an existing network. Here’s how to get A+ advisors.
6 signs you need an Advisory Board!
1) Capital is Needed. Capital is the lifeblood of every business. Whether it is personal infusions of cash, lines of credit at the bank, grants or external shareholders, acquiring capital takes time and talent. The cost of capital is real and getting money into a business can be expensive and time consuming. An advisory board is a perfect sounding board to cross check assumptions and explore all sources of potential capital before bringing money into a business. Having advisory board members that have faced similar issues can save a lot of money and time.
Truth or Lie? 5 Facts about Advisory Boards!
Lie. Advisory boards can be extremely cheap, especially for start-ups. Many successful business people love to give back and mentor early-stage companies and are willing to do it for free.