The Value of Startup Advisory Boards

Many of our most successful startup clients use advisory boards to powerful effect, especially in the earlier stages when cash is short.

In those early days, building a team of advisors with equity can help a company in many many ways.

Advisors bring new ideas and expertise into the mix.

They can open up new sales or distribution channels.

They can make introductions to key prospective clients or partners.

They can help get large projects out the door without burning too much cash.

They can help improve your product and get to product market fit faster, as this Techcrunch article suggests.

Most important, I think, they help build energy, momentum and community around a company at a time when founders need it most.

Pulling an advisory board together also helps entrepreneurs hone a key skill - enrolling others to support the vision.

It's a tool and a tactic that's well worth considering where appropriate.