I was just at a women's business panel and I was asked the question, "Do you have mentors and advisers?" Absolutely! Don’t know how I’d keep sane without them.
Strategic Business Advisers
- People who can give objective advice from outside the company on matters of structure, leadership, and strategic planning
- Provide advice in negotiation, valuation, etc.
- Poke holes in your business plans in terms of forecasting and projecting revenue streams
- Help with introduction to investors, sales/marketing contacts, etc.
Likely candidates include:
- Angel investors/Venture capitalists—they are more than just a source of funds. For benefits of VC's outside of financial backing, check out my previous post on Starting a Business.
- Board members
- Professors from business school
Personal Advisers
- People you admire/emulate
- Solid friends/family who are there to support you (making sure you do, in fact, have a personal life) and also tell you what you don’t want to hear
Special Area Advisers
- If you don’t have background in specific area (i.e. tech, finance, SEM/SEO, etc.), finding outside advisers who specialize in those areas can help you better lead your company
- Basically, anyone that helps improve your business (Although, usually, you have to pay for this advice, but equity also works too!).
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