What Do Advisors Do?

Gillian and Anne discuss the defining characteristics of a successful advisory board and how they will benefit your startup. In your early stages you will have ad hoc advisors to help get through the thorny startup underbrush. Advisors are valuable to a startup from the beginning. Whether they are experts in the field of your product, or markets for it, or financial management. All of these support founders by allowing a sounding board for decision making. Or providing a high level view, since we know day-to-day startup operation is usually deep in the weeds. Your advisors will be your counsel, your experts. Find ones who have done this before. 2. Your advisors will lend their good names to your efforts. Find the best you can. Reach high! In the early stages you call on them when you need them. Later you may formalize your group of advisors into a board with periodic meetings and reporting, and then you may be compensating them.

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