“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.” – Steve Jobs
Having an advisor who truly loves what they do and will be important to your companies success. Have you run into a few rough patches with your startup? Almost everyone does. Are you surrounded by advisors? Most startups are. Are the advisors offering the strategic, tactical advice that you need? It’s important to find a startup advisor that works well with your business.
What Do We Want Right Now?
The complexity of launching a startup with success calls for a collection of advisors who will assist with making things happen. Whether it’s a targeted introduction or a recommendation on user acquisition, be sure you recognize specifically what you would like from the advisor you are targeting. You may notice that the advisor isn’t right for your company or that you would like to carry off on transferring them on board.
What is the most effective and easy way to select the best advisor? Simply talk to them. The best way to judge a startup advisor is to take a seat in front of them and have a conversation and ask questions. It is also important to answer any questions they will have about you or your business. They should instantly assist you in recognizing if you are a right fit for each other.
The following are key topics to talk about:
Relevant experience, skills set, and connections:
Where will the business have gaps? Which connections do they have that will give immediate worth to your company’s bottom line? How do you prefer to work? Work styles vary dramatically from resistance to encouraging to analytical. Some advisors dive right into what is happening in your business and immediately tear it apart in a hundred completely different ways. As a founder, it’s important to decide what type of investor you will best relate to before you decide to work with anyone. What you don’t want is to learn that you have conflicting styles once you have hired an advisor. This can be avoided by simply interviewing them, be sure to get references from corporations they have previously worked for. All of these factors are critical to finding and partnering with the proper advisor.
Availability and Desire:
Growing companies can’t afford to wait for a startup advisory to come along who will fit perfectly into his or her schedule. When you are on the hunt for a startup advisory specifically, it is necessary that you verify how accessible they are. It is also important to determine with what vision and impassioned way they will be helping your business reach its full potential and growth.
Goals and Compensation:
Advisor/advisee relationships won’t be productive if both parties are not aligned around accomplishable goals, milestones, and compensation. Most of the time the initial instinct is to seek out a startup advisor who is an expert at one terribly specific thing. Their expertise appears nice on paper, however it is necessary to balance that against how you relate to the person, associating their personal style in a consultative role.
Just let the conversation evolve and you’ll find your desired startup advisor in record time!