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Advisory board members how to

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Importance of advisory board members for a startup. …

Importance of advisory board members for a startup.

What value can an advisory board member add?

Published in: Business, Technology

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  • 1. HR needs of a Startup Saturdaystartup Prajakt Raut ED – The Hatch and President - AIC
  • 2. Startups have two types of competency gaps…People who you can think People who you canwith implement the plan with ? Hire
  • 3. Create an advisory board / board• Effective way to engage senior folks to fill in competency gaps• You get the expertise and adult supervision - they get bragging rights
  • 4. What they can do for you is moreWhen important than who they areengaging anadvisory Establish expectations and getboard/board commitments Define interaction frequency and medium – keep them informed Compensate with equity – incentivize
  • 5. What can board members do for you?1. Make introductions – spread the word – get them to announce on their LinkedIn profiles2. Bring the domain expertise – advise you on strategy, validate your plans and challenge your assumptions3. Help you interview hew hires.. Especially senior folks… especially if the new hires are older than you4. Speak on your behalf at events5. Monitor your progress – provide early warning signals when things are not going right