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Advisory Board how-to?

LauraGlynnLauraGlynn subscriber Posts: 2
edited December 2006 in Business Planning
Good Morning!
We have been advised that we need to get advice...In the form of an advisory board.
How does one go about finding a great team?  and what is advisory board etiquette?  Are they offered stock? First born children?  Why would someone be on the advisory board for a start-up?
Thanks for any advice on getting advised!
Happy Holidays!
LauraLauraGlynn2006-12-22 22:22:49
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Comments

  • InactiveMemberInactiveMember subscriber Posts: 12
    Sometimes advisors are offered stock. How do you build a great team? Well. That`s an age old question but I think it involves common sense more than anything.
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  • iouone2iouone2 subscriber Posts: 14
    In general, people love to give opinions. Just ask some frequent users of your site to be an adviser. SuN has an advisory board. I don`t think they are "paying" anything. Maybe a complimentary copy of the Startup Nation book. I think it is great to be part of something you already enjoy. It`s not really a job at that point. It`s enjoyable to have your voice recognized.
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  • LauraGlynnLauraGlynn subscriber Posts: 2
    Thank you for all the advice about advice.  I am going to start with who we know and who they know and so on, and so on...I will probably get to Kevin Bacon after 6 people. 
    Daniel thanks for the link to campfire.  I love to check out different technologies.  Especially collaboration tools.
    Have a wonderful Holiday.
    Take care,
    Laura
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  • iouone2iouone2 subscriber Posts: 14
    fmbchps... I didn`t get balls!  Maybe next time. 
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  • enlightDanenlightDan subscriber Posts: 0
    Laura,If your advisors are tech savvy - Skype is another great tool - if everyone has a mic/headset you can teleconference. I use it with some peer advising groups I work with - it works phenomanally.
    enlightDan2007-1-4 13:43:41
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  • kgkg subscriber Posts: 3
    Laura:
    The only advice I have to offer is any CEO, executive, retired professional, or client is willing to give advice if you are not asking them to buy something.  It is an honor to be asked for advice and most will see it this way.  If you ask for more, a commitment to a monthly discussion, that becomes more difficult.  I even tried a messageboard system but no one posted.  Business professionals don`t have time once they are highly successful and actively running a company to post on a message board.  Then you can guess I am self-employed.  I am a day trader from home.
    If you want a good sound phone conversation with advisors that come together twcie a years, that is tangible.  Consider what you want to ask, then ask if you can call them back at another time once you follow their advice.  If you don`t follow their advice, they will beleive you wasted their time becuase they didn`t give you meaningful input.  You saw no value in their advice.  Be respectful oftheir time and yours.  This will automatically become your advisory board.
    Katherine
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