Communitech News: The Funder’s Side: Tips for founders on choosing an advisory board

Choosing and managing an advisory board can be one of the most rewarding activities for a founder when growing their company – but it requires careful handling to do it right. As an angel for GTAN, I’ve been asked to serve on advisory boards for many different types of founders and companies, and I’ve learned some valuable lessons about what makes a founder-advisor relationship productive. For founders looking to build an outstanding advisory board, here are some best practices:

Understand the purpose of advisory boards

Many founders fail to understand the function and workings of advisory boards, and it’s important to realize that normally, members of advisory boards for emerging companies are intended to be temporary. Typically, an advisory board will join a founder to provide advice and assistance over a period of 12-24 months, to help the company solve a specific issue or navigate a particular phase of growth…

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