How are you thinking about advisors to your startup and the role they serve

Name: How are you thinking about advisors to your startup and the role they serve
Uploaded: 2023-03-22T03:53:10+00:00
Duration: 51 s
Channel: James Sinclair
Description: James Sinclair breaks down three types of startup advisors: name-only advisors who lend credibility, deck advisors who signal external validation, and…

22 Mar 2023 · 1 min

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James Sinclair breaks down three types of startup advisors: name-only advisors who lend credibility, deck advisors who signal external validation, and true advisors who actively drive the business forward. He warns founders to know which type they need and not confuse advisors with investors.

Chapters

Let's talk about advisors to your startup. This is one series. There are three types of advisors, really. There's number one, which is someone whose name is going to get you an extra 15 seconds of a conversation, maybe a reply to a cold email, just looking to just bump you up and add a little bit of credibility, but nothing more after that, they're of no value. They're not going to do anything for you. The second is the advisors you're looking to add to your startup deck to show that you have weight and value and you've done some research, you've got some people excited and it's not just you. And the third are the real advisors, the ones that are going to actually drive you and your business forward. So as you're thinking about your advisors, think about which one you need. I remember this quote. I can't remember who said, and I don't agree with it. I think it was Charlie o' Donnell who said when he sees advisors on a deck, it's just a group of people who had the chance to invest that didn't. I don't agree with it because I don't think it's fair on everyone's position, but it's a good way to think about it. Good luck.