Downloaded 24 times
Uploaded byPrajakt Raut
Advisory board members how to
The document discusses human resource needs for startups and establishing an advisory board. It notes that startups have competency gaps in people who can think strategically and people who can implement plans. An effective way to fill these gaps is to engage an advisory board of senior experts who can provide expertise, supervision, and introductions in exchange for equity in the company. When engaging an advisory board, startups should establish expectations, define interaction guidelines, and compensate board members to incentivize their involvement.
More Related Content
Similar to Advisory board members how to
Advisory board members how to
- 1. HR needs ofa Startup Saturday startup Prajakt Raut ED – The Hatch and President - AIC
- 2. Startups have twotypes of competency gaps… People who you can think People who you can with implement the plan with ? Hire
- 3. Create an advisoryboard / board • Effective way to engage senior folks to fill in competency gaps • You get the expertise and adult supervision - they get bragging rights
- 4. What they cando for you is more When important than who they are engaging an advisory Establish expectations and get board/board commitments Define interaction frequency and medium – keep them informed Compensate with equity – incentivize
- 5. What can boardmembers do for you? 1. Make introductions – spread the word – get them to announce on their LinkedIn profiles 2. Bring the domain expertise – advise you on strategy, validate your plans and challenge your assumptions 3. Help you interview hew hires.. Especially senior folks… especially if the new hires are older than you 4. Speak on your behalf at events 5. Monitor your progress – provide early warning signals when things are not going right