Advisory board members how to
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Importance of advisory board members for a startup. What value can an advisory board member add?
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Advisory board members how to
- 1. HR needs of a Startup Saturday startup Prajakt Raut ED – The Hatch and President - AIC
- 2. Startups have two types of competency gaps… People who you can think People who you can with 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 more When important than who they are engaging an advisory Establish expectations and get board/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 profiles 2. Bring the domain expertise – advise you on strategy, validate your plans and challenge your assumptions 3. Help you interview hew hires.. Especially senior folks… especially if the new hires are older than you 4. Speak on your behalf at events 5. Monitor your progress – provide early warning signals when things are not going right