When To Enlist A Board Of Directors Or Advisory Board

Startup Professionals Musings

Many entrepreneurs I know are confused by definition and need for an Advisory Board versus a Board of Directors. By definition, Advisory Boards are voluntary and have no fiduciary responsibility. How much are you willing to spend on your board?

A Startup Advisory Board Dream Team is Priceless

Gust

Every startup faces a myriad of challenges that are well beyond the scope of any founder, so you need a few guiding lights to illuminate the road ahead. I recommend that every early-stage startup find three Advisory Board members.

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The Wrong Advisory Board Will Hurt Your Startup

Startup Professionals Musings

If you are an entrepreneur for the first time, or entering a new business area, it’s usually worth your time to assemble an Advisory Board of two or three executives who have travelled that road before. If you want out-of-town members on your board, you foot the travel expenses.

The Right Startup Advisory Board Has A Big Payback

Startup Professionals Musings

Every startup faces a myriad of challenges that are well beyond the scope of any founder, so you need a few guiding lights to illuminate the road ahead. I recommend that every early-stage startup find three Advisory Board members.

Why Your Startup Needs An Advisory Board 

Inc Startups

The best investment a startup can make early on, may be the selection of its advisory board. Startup

7 Keys To Signing Business Advisors That Add Value

Startup Professionals Musings

In my role as an angel investor to startups, I’m struck by the broad variety of advisor strategies I see in investor presentations and business plans that cross my desk. That’s the function of a good advisory board. Keep the advisory board to a manageable size.

The Right Startup Advisors Are As Valuable As Money

Gust

If you are a new entrepreneur, or entering a new business area, it’s always worth your time to assemble an Advisory Board of two or three executives who have travelled that road before. The post The Right Startup Advisors Are As Valuable As Money appeared first on The Gust Blog. Investors' Insights Advisory Board entrepreneur startupWarren Buffett advises President Obama, image via Wikipedia.

Mistakes To Avoid With A Startup Board Of Directors

Startup Professionals Musings

Most entrepreneurs avoid setting up a board of directors for their new business unless or until they sign up an investor who demands a seat on the board. High-performing startups today are the ones that use every resource at their disposal. Less than three is not a board.

A guide to creating your startup advisory board

The Next Web

Alana Muller is the President at Kauffman FastTrac, an organization that equips entrepreneurs with the business skills and insights, tools, resources, and networks to start and grow. This post originally appeared on the Clarity.fm The entrepreneurial journey is full of twists, turns, ups and downs.

A Startup Advisory Board Dream Team is Priceless

Startup Professionals Musings

Every startup faces a myriad of challenges that are well beyond the scope of any founder, so you need a few guiding lights to illuminate the road ahead. I recommend that every early-stage startup find three Advisory Board members. They should have deep backgrounds and experience in a relevant domain to your startup, and executive experience in running a company. Once your company is past the startup stage, you do need a board of directors.

Six Tips to Maximizing Your Advisory Board Value

Startup Professionals Musings

If you are an entrepreneur for the first time, or entering a new business area, it’s usually worth your time to assemble an Advisory Board of two or three executives who have travelled that road before. If you want out-of-town members on your board, you foot the travel expenses.

The Right Startup Advisors Are As Valuable As Money

Gust

If you are a new entrepreneur, or entering a new business area, it’s always worth your time to assemble an Advisory Board of two or three executives who have travelled that road before. Invested Interests Advisory Board entrepreneur startup Warren Buffett advises President Obama, image via Wikipedia.

How Startups Can Build an Effective Advisory Board

SiliconHills

He’s served on advisory boards from New York to Silicon Valley and he’s almost never [.] The post How Startups Can Build an Effective Advisory Board appeared first on SiliconHills. By SUSAN LAHEY Reporter with Silicon Hills News Brandon Knicely, managing director of Portico International and founder of Austin Innovation Partners, has started mid-cap companies and small companies, invested in developing nations and worked for non-profits in New York City.

How I Try to Mentor Startups (And Hopefully Add Value)

Instigator Blog

Fred Destin wrote a fantastic blog post recently on how to be a good startup mentor. It made me think a great deal about how I mentor startups, where I’m effective, and where I could improve. I’m currently mentoring a number of companies inside of FounderFuel (a Montreal-based startup accelerator.) I recently agreed to be a mentor for a new accelerator in Washington, DC called Acceleprise , which focuses on B2B startups.

Building an Advisory Board: Practitioners vs Coaches

Hunter Walker

Advisory boards come up often in conversations with founders, especially early in a company’s life when they’re looking to build out expertise, industry relationships and social proof. Length : Advisory agreements are standard two years. While not everyone is a fan of Advisory Boards , I believe they can be valuable. Does your startup have advisors?

A real Customer Advisory Board

Startup Lessons Learned

Lessons Learned by Eric Ries Monday, October 26, 2009 A real Customer Advisory Board A reader recently asked on a previous post about the technique of having customers periodically produce a “state of the company&# progress report. One example is having a real Customer Advisory Board. Every two months, the company would have a big end-of-milestone meeting, with our Board of Directors, Business Advisory Board, and all employees present.

A Roadmap to Working With Startup Advisory Boards

Early Growth Financial Services

Don’t confuse an advisory board with a board of directors (BoD). In contrast a startup advisory board is pretty much whatever you want it to be. When you reach that point, it pays to think through your advisory board’s role: how to structure it, how it will work and if/how the members will get paid. This guest post was contributed by Adam Quinton, CEO and Founder of Lucas Point Ventures.

Should an Angel Investor also get Advisory/Board Equity?

Venture Cyclist

Over the last couple of years entrepreneurs have asked me a few times about cases where a potential angel investor, often someone who has been a mentor to the company in the program, says that they want to invest, but that they also want extra equity for being an advisor or board member, because they “bring more to the table than just money”. Equity is very precious, and so advisory or board equity should not be granted lightly. It’s demo day time of year in New England.

Your Entrepreneur World Changes When You Take Money

Startup Professionals Musings

Your startup is now part of someone’s portfolio, and here are a few of the ways in which you should expect to be monitored by your investors: One or more seats on the Board. Maybe you had an informal Advisory Board before, but now you have a formal Board of Directors.

Many Entrepreneurs Pick the Wrong Advisors for Help

Startup Professionals Musings

If you are an entrepreneur for the first time, or entering a new business area, it’s usually worth your time to assemble an Advisory Board of two or three executives who have travelled that road before. If you want out-of-town members on your board, you foot the travel expenses.

Beware the consumer advisory board — instead, always be recruiting

Design Staff

Our team at GV meets with startups every week to advise CEOs, give design feedback, and help companies learn about their customers. A… Continue reading on Medium

The Care and Feeding of Startup Advisory Boards

Seed Stage Capital

skip to main | skip to sidebar 02 September 2009 The Care and Feeding of Startup Advisory Boards A recent post on Vator.TV got me thinking about startup advisory boards. per advisor, or 1% to 4% for the total advisory board.

How to Find the Best Startup Advisory Board Members for Your Company

Early Growth Financial Services

Q: What’s one quality you should look for in a potential advisory board member? Originally published in Business on Main.

New Entrepreneurs Think Investor Money is All Fun

Startup Professionals Musings

Your startup is now part of someone’s portfolio, and here are a few of the ways in which you should expect to be monitored by your investors: One or more seats on the Board. Maybe you had an informal Advisory Board before, but now you have a formal Board of Directors.

Critical Considerations for a Startup Advisory Board

Startup Professionals Musings

By Bob Arciniaga In developing the content for this article, it was very apparent this advice is not only critical for startups but for most companies. The suggestions are even more vital in a startup environment with constrained resources. Select the right board member.

Lean Startup’s Eric Ries joins HubSpot’s Advisory Board to help companies evolve their marketing

The Next Web

Companies are about to get a big dose of the Lean Startup philosophy. While having the guy who created the movement on your Advisory Board is cool, some might think that it’s just another fad. ” What exactly are businesses looking for in the Lean Startup movement?

Building an Advisory Board

Journey of a Serial Entrepreneur

We have been advised to put together a formal advisory board to assist us in our journey to reach product/market fit. Building an advisory board however, needs to be given a lot of thought and is not another line item on your to-do list.

10 Answers That Make Your Startup Plan Investable

Startup Professionals Musings

Entrepreneurs who are looking to attract investors need to develop and pitch a plan -- preferably written -- that answers every potential investor question about your startup before it is asked. Include advisory board member qualifications and key industry connections.

An Advisory Board is a Startup’s Best Investment

Startup Professionals Musings

Every startup faces a myriad of challenges that are well beyond the scope of any founder, so you need a few guiding lights to illuminate the road ahead. I recommend that every early-stage startup find three Advisory Board members.

What Startup Advisors Do I Need?

SoCal CTO

A large part of this conversation is what kinds of advisors startups should be looking for. A little while ago, I suggested that Every Web/Mobile Startup Should Have a Technical Advisor. We both felt that most startups are not taking a very systematic approach to defining with they need in terms of advisors. While Bob’s post focuses on Technology Advisors and the Startup Founder Developer Gap , we also discussed advisors more broadly.

8 Initiatives That Can Supercharge Your Startup

Startup Professionals Musings

The smart ones get some extra support early on critical decisions, and work a bit harder on issues that are common startup killers. A good business advisor who is an expert in your domain and has built a startup like yours is often more valuable than any C-level executive.

Startup Investor Money Always Comes With Strings

Startup Professionals Musings

As an Angel investor to startups, I’m still surprised to find entrepreneurs who expect investors to give them money, and then disappear into the sunset. Investors will expect at least one seat on the board, and expect a board report from you each month on key items.

How Valuable Are Stock Options Offered By A Startup?

Startup Professionals Musings

Wouldn’t you like to be one of the lucky people who joined Google and Facebook when these were startups, and now be a multi-millionaire? So people ask me “How many shares should I ask for or expect when I join a startup today?” Advisory Board Member, 1% Senior Engineer,3 -.7%

Don’t Give Away Your Board Seats

Steve Blank

I had a group of ex-students out to the ranch who were puzzling over a dilemma – they’ve been working hard on their startup, were close at finding product/market fit and had been approached by Oren, a potential angel investor. Then I asked, “Why should he even be on your board at all?”

What Do I Do Now? The Startup Lifecycle

Steve Blank

Over breakfast he got me up to date on his life since school (two non-CEO roles in startups,) but he wanted to talk about his third startup – the one he and two co-founders had started. “We’re Startups in Search mode have little process and lots of “do what it takes.”

The traits of a great Startup Advisor

StartupCFO

As I’ve settled into this new role, I’ve been thinking about what it means to be a great Startup advisor. It’s very common for startups to add advisors. With rare exceptions, if you have some A list startup celeb advising you, you might get some great intros, but they will be too busy being their fabulous selves to really engage. Startups are full of highs and lows. Growing Big Management advisor Advisory Board coach coaching mentor

Traction Metrics Seed Real Startup Funding And Growth

Startup Professionals Musings

While thinking about the parameters of traction, and how to measure it, I was impressed with a new book, “ Scaling Lean: Mastering the Key Metrics for Startup Growth ” by Ash Maurya, a serial entrepreneur, and creator of the one-page business modelling tool Lean Canvas.

[Infographic] Inside The Mind Of A Startup Entrepreneur

YoungUpstarts

After all, startups are fast paced, small, and ever-morphing, which means it takes certain type of person to help make things succeed. Build an advisory board. Command a board room. Others entrepreneur infographic leadership startup What makes an entrepreneur tick?

Advisory boards: How to choose the right people and run effective meetings

Jeff Hilimire

I talk a lot about the importance of advisory boards for startups. I believe creating an advisory board is one of the most important things you can do for your company. Tips on how to choose advisory board members. You’ll be surprised the caliber of person that will agree to be on your advisory board. Tips on how to run effective advisory board meetings. But most important of all, get yourself an advisory board.

Don’t Let Outside Funding Kill Your Startup Passion

Startup Professionals Musings

One of the myths I often hear as an advisor to many entrepreneurs is that their lifestyle would somehow be better if they could more easily find other people’s money to build their startup. Usually it pays to move a startup slower rather than risk relationships.