Building An Advisory Board For Your Business

[@danmartell]

Great advisors help with strategic decisions, solve major issues, and pull you up when you’re feeling like a sack of potatoes. In this video, I go over the complete strategy to building a great advisory board.

[@Coopercaroline2000]

Question: My partners and I have an advisor who happens to be a great friend of mine. Right now, he’s helping us so much with market discovery and in helping us finding our entry point and he’s genuinely wanting us to succeed! He’s not only expressed interests in being our first customer but also in helping us find funding down the line and for him to possibly be in investor as well! All great news for us actually !!! So here’s my question ; should we offer him equity (1% or so) to thank him for his extremely valuable insights even though he doesn’t seem to be looking for that at all? Thx in advance! Your French Canadian fan from New Caledonia !!

[@alexgehales]

OMG, I had never though about AB until today and your ideas have just given me a big smile. Life is a gift worth sharing and thanks for sharing.

[@danmartell]

Huge potential impact!

[@ericyang3412]

I recently applied for an advisory board, let's hope I get in! Thank you!

[@alexnaz]

Nice!! Thanks Dan. This video popped up in my inbox with perfect timing for me. Was just starting to push down this road today. p.s. I've been a long time member of your youtube audience. Your enthusiasm for building companies is infectious. thanks for that ✌

[@danmartell]

Thx Alexander, nothing brings me more joy than talking about business. Great to have you part of the community! DM

[@yetundemacaulay6768]

Thank you Dan for this video. Please I need help with putting together a one-year strategy deck for a start-up business offering services in Education and ICT to aid my action towards building an effective Board of Advisor.

[@Carlaserra28]

Really great video, opened up my eyes! I am opening up a reseller business in an Industry hard to advertise and am struggling to get direction.

[@Carlaserra28]

I do have one question. If my business is self-funded and I am not yet making enough money to compensate a mentor, what could I offer them? Do you have any experience with that?

[@strategyadvisoryboard]

Great Effort Dan

[@dezdaman]

Dan, just had the idea of building an advisory board brought to me and this video has been very helpful. How do you find the right people in a small town and know that your business is not being shared to everybody in the town?

[@danmartell]

Dezai, I've got some internal training videos for my SaaS Academy coaching clients. Subscribe to my newsletter danmartell.com/newsletter then reply to that initial email asking for the Boardroom A-Team training and I'll hook you up. This offer is open to anyone else who reads this. DM

[@MrInnovationWorks]

Hey Dan can you tell me how long of a term would you have a board on for 2 months,2 years,4 years ?

[@danmartell]

Boards typically stick around for 4+ years.

[@kennythompson9646]

I'm definitely going to need this moving forward in my BUSINESS.

[@danmartell]

Perfect! DM

[@strategyadvisoryboard]

Good Luck

[@charleslee2651]

This really helped me. Very concise and clear. Great content. I am subscribing to your channel.

[@danmartell]

Thx Charles! :)

[@UncensoredFoodie]

Brilliant Video

[@danmartell]

thank you

[@mbulanzuki4126]

Great, succint content!! Thanks!

[@danmartell]

100%

[@TommyDrone]

Fantantastic info. Thanks so very much.

[@mslikenootha]

Soooo, if I want to test my project under a similar 501c3 as I’m in my start up phase of my after school guidance youth program, do I ONLY use advisors right now and get a board later?

[@danmartell]

100%. Advisors now... maybe even informal (vs. formal with equity) And a board later as you continue to grow. DM

[@cliffordrogers2734]

Nice

[@MassiveSuccessVids]

How do I find advisors?

[@dmeroiti]

Love the content, keep it up!

[@danmartell]

Dean, thanks - don't plan on stopping ... I've got at least 2 decades more worth of content to share :) DM

[@PrakashS20]

thanks Dan... pretty helpful, can u give us more avenues ques as LinkedIn

[@danmartell]

- Recipients of business awards - Business leaders who sit on non-profit boards - Business speakers at events - etc.. It's not finding them, it's your fear of reaching out to them. Start there. DM

[@jshir17]

It would be good if disabled people were adequately represented on these boards (particularly organizations that provide services to disabled people) e.g. imagine if Judge Rotenberg Education center had disabled folks on its board?

[@robbiemurch6998]

Look at scope if you're in the UK

[@aishiks6108]

I have an idea and I have made the proof-of-concept of the product with all my savings. But my family is not supporting me for the idea. They want me to finish my college and settle with a job. Now how to get funds to make a prototype and hire? Thanks.

[@danmartell]

Aishik, I an only speak to software companies ... truth is, you shouldn't have to spend anything to build a Clickable Prototype, and form there you need to pre-sell to your potential customers. If you do that, then they'll help fund the development through their early investment in your vision. DM

[@aishiks6108]

Thank you for replying.

[@scorpioviews]

Dan, I would take you as an Advisor for my Advisory Board team of my Drone Company :)

[@danmartell]

Unfortunately, I only review opportunities through clients/students I get to spend time with ... so you'll need to figure out how to make that happen :) DM

[@kennythompson9646]

Sounds like he needs to set arrangement to meet you in person. That's what I would of done. Discuss over coffee/lunch.

[@strategyadvisoryboard]

Drone Tech is indeed a Super Success Story

[@CecilJohnHowell]

Putting together an advisory board. This was helpful. Thanks.

[@danmartell]

Thx Cecil! DM

[@ЗеленскийЗеленский-у1ф]

haha nice intro)))))))))))))))))))))))))

[@danmartell]

Thanks :)