The right stack, lean workflows and incredible devs got us this far, but we're going to need help to make it to the next milestone. To that end we're developing a Start Advisory Board Platform and this is deck we're working on to define the objectives and highlight the opportunity for participants.
Special Thanks To the following resources for sharing some great information and resources on Advisory Board development for startups:
https://www.sequoiacap.com/article/preparing-a-board-deck/
http://seedsummit.org/advisor-agreement-template/
https://fi.co/contents/fast#
2. Welcome To VRoom & VRFAB!
The VRoom Founders Advisory Board (VRFAB) will
provide value by exposing VRoom’s management team
to diverse lines of strategic thinking from a highly
respected and carefully assembled group of
professionals thereby broadening horizons, improving
understanding of both existing and potential markets,
risks, future drivers of growth, challenging
assumptions and guarding against challenges they will
face as they work to solidify VRoom as the global
leader in enterprise immersive media distribution.
VRoom Founders Advisory Board
Background & Introduction:
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VRoom Technology, LLC seeks to engage a highly distinguished board
of advisors to help navigate it’s explosive growth across multiple
functional business units.
3. The VRFAB MISSION
VRFAB Has A Dual Mandate:
– Advisory: consult with management regarding
strategic and operational direction of VRoom.
– Oversight: monitor company performance and
provide insight, feedback and direction based
on your experience to the VRoom leadership
team.
The responsibilities of VRFAB advisory board members
are separate and distinct from those of management.
The board does not manage the company nor do VRFAB
members have any fiduciary responsibilities or liabilities.
VRFAB Mission:
– Discovering and facilitating ways to build solid
foundations for exponential growth on the journey
from a pre-money startup to a global media brand.
4 OUT OF 5
TOP CEOs
ABREE ...
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4. Our Goals & Intentions For VRFAB
• Our intentions for VRFAB are to assemble an incredibly smart,
talented, tuff and visionary team of advisors that can help us …
– Enhance VRoom’s visibility and perception worldwide
– Leverage Advisors for help securing funding, financial,
product and market growth as well as overall valuation
strategies
– Training wheels for official board assembly &
management
– Opportunity to test dashboard, executive financial
reporting
– Network expansion for recruiting talent post funding
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5. VRFAB Member Roles & Activities
Selected member roles:
• Advise on VRooms corporate strategy
• Evaluate business models and corresponding key
performance measures for validity
• Identify risk areas and advise on risk management
• Assist in the selection of new executives and key staff
• Evaluate integrity of published financial statements
• Evaluate growth strategies and advise on opportunities
• Help Management Expand VRoom Brand awareness and
reputation
• Guide VRoom Management on the path the valuation
• Help us alpha and beta test new products and services
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6. VRFAB Member Commitment
Selected Activity & Member Commitment Levels ...
Time Commitment: We anticipate no more than 1 to 2 hours maximum per month in
direct contact with VRoom executive team and no more than 4 hours total time required
per month.
Meetings: Quarterly Advisory Board Meetings conducted by phone / video conference. To
the extent all parties agree, we believe an VRFAB advisory board meeting in person
perhaps quarterly or twice yearly to bring together the participants in a boardroom
setting and create a formal structure for the board’s work. Ad Hoc communication is
expected with individual advisors on specific topics as needed if permissible and agreed up
by member(s) in advance.
Candor: The most ideal advisors will have VRoom’s best interests at heart, but must not be
afraid to give advice - even if it contradicts the thinking of VRoom’s founders, management
team or other VRFAB members.
Publicity: BoA members may be listed on VRoom documents and corporate collateral with
name, photo and bio in clearly marked Advisory Board sections.
- Legal & Corporate Affairs:
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8. Our Commitment To You
➔ VRFAB Member Compensation: At this time no compensation will be paid for Advisory Board
participation. However we wish to work with VRFAB founding members to develop a reward program for
participation that’s fair, equitable and motivating. Topics to explore may include: Fees to be paid, daily
rates, equity opportunity, bonuses for contracts won based on VRFAB member contributions and more may
be appropriate.
➔ Appoint VRFAB Chairperson: While the best advisory boards have a clear remit and are constructed
accordingly, they will struggle to succeed if they lack the clear leadership of an effective chair. To ensure
optimum performance we will work to appoint a chairman within the first year of operation.
➔ Concise Managed Communications: To ensure contact is kept focused and out of respect for VRFAB
members, VRoom will restrict and manage informal contact to agreed upon updates and allow members to
control the level and frequency of communication they receive from us.
➔ Concise, Well Managed Meetings: VRoom will ensure that all scheduled meetings are well planned and
managed with clearly stated objectives and expected outcomes. Work to prevent ‘mission creep’ and
prevent wasted time, energy resources provided by VRFAB members. We’ll respect your time as we do our
own!
➔ Optimized Advisory Board Tools and Workflows: Develop open and uncluttered workflows that facilitate
two-way communication so that our VRFAB advisors can alert the company to relevant developments,
important contacts or ways in which we can provide them with unilateral support at any time.
➔ We’ll Share Cool Stuff With You:
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9. Thank You & Next Steps ...
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Thank you for your time and consideration. Please don’t
hesitate to contact us if you have any questions. We look
forward to working with you and know it will be an
exciting and rewarding experience for us all.
Advisor Board Selection Complete: August 2018
First VRFAB Meeting to take place: September 2018
Additional Resources: Coming Soon …
Chris Berno,
Co-Founder, Chairman
(407) 421-2245
Executive Search
Co-Founder, CEO
VRoom is actively seeking a marketing and brand
partnerships executive with a background in artist
management, music and entertainment, and original
content development. Will be responsible for
defining and implementing VRoom’s global strategy.