StartUp Founders: By The Time You Wish You Had Advisors It’s Too Late
As a startup founder, there will come a time when you’ll require the guidance of an advisory board. This team of mentors, coaches, industry experts, and specialists will provide invaluable support, from refining your business focus to helping you scale, making introductions, and serving as a reference during investor and prospect meetings.
Although you may not need an advisory board immediately, it’s crucial to start building relationships with potential advisors as early as possible. Don’t wait until you’re in desperate need of advice to seek out these vital connections. Instead, proactively reach out to individuals who can contribute to your mission and add value to your business.
Establishing and maintaining relationships with potential advisors is essential. Introduce yourself, touch base with them regularly, and keep the lines of communication open. By fostering these connections early on, you can ensure that when the time comes to make that important ask, you’re not doing it cold.
The importance of a strong network cannot be underestimated. As LinkedIn co-founder Reid Hoffman once said, “Your network is the people who want to help you, and you want to help them, and that’s really powerful.” By nurturing relationships with potential advisors early on, you’re setting the foundation for a successful advisory board and, in turn, a prosperous startup journey.