Building a Startup Advisory Board

Startups are unique, entrepreneurial creatures. For that reason, establishing a formal board of directors doesn’t often make sense until the company receives sizable investments from professionals who want board seats or require the existence of a startup advisory board.

startup advisory board

Until then, the startup needs to be agile, but it can still benefit from the guidance of other leaders as an advisory board. So, how do you put together the right group of individuals for this task?

Decide on a structure for the board

Take some time to evaluate how you want your advisory board to operate and why you want it to exist.

How many people do you want involved? (We suggest 3 or 5 members to start.)

How often do you want them to meet?

Will you hold formal votes, or will your meetings be more discussion-based?

Look for specialists who fill in your gaps

Have a tech background but are unsure about marketing? Look for a marketing executive who can help take you past the basics. Reach out to people who will make your startup more well rounded—not necessarily the people with whom you already have a lot in common.
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