What can advisory board /board members members do for you?

Apart from guiding you on areas in which they have a competence and experience in, advisory board members can assist startup in the following ways:

  • Make introductions to the relevant folks in your industry. E.g. vendors, customers, media, and other stake holders.  One way to leverage your advisory board members connections is to request them to mention your company on their LinkedIn profile.
  • Bring the domain expertise – advise you on strategy, validate your plans and challenge your assumptions
  • Help you interview staff. This can be especially useful when younger founders have to interview senior folks who are older than them.
  • Speak on your behalf at events
  • Monitor your progress – provide early warning signals when things are not going right

 

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Author: Prajakt Raut

Prajakt Raut is the founder of Applyifi.com, and author of the book for startups - ‘Starting Up & Fund Raising’ Prajakt personal goal in life is to encourage and assist a 100,000 people to become entrepreneurs. _____________ Prajakt is the founder of Applyifi - an online platform that provides startups a 36-point scorecard and assessment report on the venture's investment readiness [www.applyifi.com], and helps them improve their odds of getting funded. Prajakt is also the founding partner of The Growth Labs, a platform where growth-stage companies get sharp, incisive advice from senior professionals and experienced entrepreneurs. [www.thegrowthlabs.in] Before starting Applyifi, Prajakt was the head of operations at IAN, founding member of a leading incubator, and the Asia-Director for TiE (2004 - 2007). Previously Prajakt had co-founded Orange Cross, a healthcare services company, and was part of the founding team member of Idealake Technologies. While in college Prajakt had founded a printing business and has spent over 10 years working in leading advertising agencies. Prajakt’s book, ‘Starting Up & Fund Raising’, helps startups understand an investor’s perspective, and helps them improve their odds of getting funded. The book also helps entrepreneurs understand the building blocks of a business.

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