Below are some pointers on how to deal with advisory boards, then afterwards a great story for you to watch. My buddy Ty Danco just posted the best advisory board story I have ever heard. It is a video of his talk last week at the SVB Boston CEO Summit. Fantastic story well worth a watch. (And for a discussion on the difference between an advisory board and a regular corporate board, see here.)
While watching the video, pay attention to how Ty thought about the composition of his board relative to the needs of his company – where he was weak or at least knew he needed to be really strong, he specifically shopped for the right connections and experience.
In terms of setting up an advisory board, here are a few thoughts for you to consider:
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If you enjoyed this, you might enjoy: Boards vs. Advisory Boards, What I Look For In An Entrepreneur, Why Angels Chase Electrons, Are Entrepreneurs Wild Risk-Takers?, Pick Your Founder/Co-Investors Carefully & Reflections on the Nature of Entrepreneurs, Top 20 Dos & Don’ts with Angel Groups & Early Stage Financing, Delusional Economics, The Overture, That Vision Thing, Loch Ness, Unicorns & The First-Mover Advantage, Should I Wait For A Technical Co-Founder.
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