5 Tips To Get The Most Out Of Your Advisory Board & Board Of Directors
Do you know the difference between a board of directors and a board of advisors?
I ask because most founders don’t know.
And they end up going to the wrong person for the wrong thing.
Imagine going to your accountant for advice on who to hire.
Or to your sales director for advice on how to optimize SEO.
I’ve been on boards.
I’ve held director positions on 12 boards.
And if you don’t know the difference between a BOD and BOA, it destroys credibility.
But even more importantly…
You won’t know how to leverage golden relationship opportunities.
After being an advisor to over 100 companies, and holding director positions myself, I’ve distilled the 5 key differences into today’s video:
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In this video, we’ll cover:
- The 5 Key Differences Between a BOD & BOA
- Maximum Growth w/ Board Relationships
- The Ideal Size For A Board
- Cash vs Equity
- “Experience Buckets”
When I think of my life and what’s been the most valuable:
Capital or relationships…
Relationships win by a long shot.
The right relationship will literally buy you an answer.
That’s why you need to build relationships with your board members the right way.
It’s going to open doors for you that you never thought possible.
And as always, let me know your top takeaways in the comments.
Have a fantastic Monday!
Dan “how to win friends” Martell.
Dan Martell is a serial entrepreneur, an investor in 40+ startups like Intercom, Udemy, and Unbounce and the creator of SaaS Academy, helping over 800 B2B SaaS founders scale faster. He’s founded five SaaS companies and successfully exited three of them. If you want to scale faster without hitting the usual roadblocks, make sure to follow him on Youtube, Facebook, Instagram, LinkedIn & Twitter.
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Originally published at https://www.danmartell.com on December 13th, 2021.