Some entrepreneurs fail to leverage the knowledge and experiences of others by failing to create advisory boards. These boards are a critical component required to scale strong entrepreneurial opportunities.
How to Build a Winning Team
How to Create a Strategy, Vision and Mission
How to Create an Advisory Board
How to Get Funding
How to Improve Your Company
How to Improve Your Pitch
How to Start Your Company
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A fair number of really smart, well-prepared entrepreneurs get tripped up, stumble around and eventually fall to the ground when they make their startup funding pitches to the Angel Investment Group that I am a part of.
How do we get there? Remember that your organization’s vision is the destination.
It is essential to understand your organization’s dreams for the future, prior to coming up with the pretty words you put on paper and hang in conference rooms. So, how does an organization create an effective vision statement?
You are going to fail! This is the dirty little truth about being an entrepreneur.
Ultimately, the fit is as important to the advisory board candidate as it is to the entrepreneurs and the company. If it is learned that the fit doesn’t exist after the advisor has been on-boarded, it will likely turn out to be a waste of time for everyone.
Entrepreneurs tend to be arrogant. This sounds rather like a criticism, but it’s more a statement of fact and a caution.
Many founders don’t consider this one until it’s too late. The excitement and adrenaline of getting started leads to a “kumbaya atmosphere” where all things are equal. This spills over into salaries. Sooner or later, the amount of time, effort and energy expended by the partners is no longer equal, but their salaries are. Tensions begin to rise.
How to protect yourself and your business startup when the partnership falls apart.