Mentioning a board of Advisors

nothinglikeitnothinglikeit subscriber Posts: 27
edited March 2007 in Business Planning
I`m working on the management section of my business plan. I don`t have much professional game development experience. I`ve been doing it in school but have not shipped any titles. If I`m assuming correctly investors are looking for a proven track record (read real world sales records) from management teams. Is this correct?So I`m trying to gain an edge by having local game development veterans sit on my advisory board. But If I haven`t gotten a commitments from them yet should I mention their names in my business plan? I ask because I`m thinking of adding a wish list  of who I want on the Advisory Board my business plan. I would also provide information on how we`d attract them to join the team.

Comments

  • keyconkeycon subscriber Posts: 34
    I wouldn`t recommend putting them in as a "wish list." What does this accomplish from an investor`s viewpoint?
    Have you written the wish list yet? Have you contacted these people yet? If not, why not? Great idea to approach these people but it would be a big WIN to have them on this AB before presenting the plan to investors.
    By developing relationships with the people before approaching investors you also have the advantage of the AB`s input on the plan that should help you write a better plan.
    Just my $.02 worth.
    [email protected] 22:30:10
  • nothinglikeitnothinglikeit subscriber Posts: 27
    Good Point Keycon.
    That`s my original plan. I`m writing my first draft of the business plan. Since I`m in the start up phase, I am not looking for funding yet. I am using the plan as a tool to attract key personnel. IE the advisory board members.
     
    But yes, once I can snare these people I`ll actually add them to the plan.
  • nothinglikeitnothinglikeit subscriber Posts: 27
    and yes I have started to contact some of these advisors.
     
    But that said. If I don`t have them yet. should I even leave it out of my plan until i get them.
  • keyconkeycon subscriber Posts: 34
    My recommendation is to leave out anyone`s name as an AB member unless they agree to be on the Board. If you want to put a paragraph in the plan about establishing an AB, I think this is fine. One, it will be there staring you in the face reminding you to get the AB members to agree to participate and as you add the members, you can then include their bios and such as you go along. Definitely nothing wrong with stating you plan to have an AB - this is a good thing in my opinion.
    [email protected] (Richard)
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