article thumbnail

Leaving Government for the Private Sector – Part 2

Steve Blank

I also work closely with all members of the executive team, the Board of Directors, and Advisory Board. Boards : The term “board” can mean two very different things in the commercial world – an Advisory Board versus a Board of Directors. An Advisory Board provides advice.

article thumbnail

5 Reasons To Enlist Outside Advisors For Your Startup

Startup Professionals Musings

In fact, the cost may be minimal, if you do your networking and build a relationship with an experienced business executive or two in your domain who are willing to share and give back for a nominal retainer, perhaps one percent of your new startup equity. The cost of a co-founder is usually fifty percent of your equity.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Should Your Startup Have an Advisory Board?

Both Sides of the Table

Many startup companies hire advisory boards. So do advisory boards really add value? In my experience most advisory boards under deliver relative to expectations. My main advice to you if you’re considering it is don’t waste much equity on it. It’s very tempting. Not enough time.

article thumbnail

How Baby Boomers Fit In The Realm Of Entrepreneurship

Startup Professionals Musings

Often the Boomer is more willing to work for equity, and easily convinced to step aside when revenues reach that next threshold. Member of the Advisory Board. Every young entrepreneur needs an experienced partner for credibility with investors, and as a trusted cohort for strategy and growth discussions.

article thumbnail

6 Key Leaders Every Technical Startup Needs To Thrive

Startup Professionals Musings

Being the leader doesn’t mean more equity, nor does it mean the leader will necessarily be CEO. The rest can come from early hires (with stock options to assure commitment), equity investors, or even strategic partners. It just means that the cofounders trust one of their own and are willing to follow. The industry veteran.

article thumbnail

What Startup Advisors Do I Need?

SoCal CTO

For me, if I can help you within a couple hours Free Startup CTO Consulting Sessions , I’m happy to do that and I don’t expect compensation or equity for that. In some cases, Founders are building an Advisory Board with the purpose of padding their investor deck. Investors discount this.

article thumbnail

7 Startup Costs That You Assume With Outside Funding

Startup Professionals Musings

Most entrepreneurs never forget for a moment that having investors means owing money, even if they can legally argue that equity is not debt. Investors want board seats and a vote on key decisions. Investors want board seats and a vote on key decisions. Many times friends and family have been broken by failed investments.

Cost 267