Often times, the most successful businesses thrive when leaders surround themselves with great advisors. Here is a great look into how to get create a board to help your company grow:
In 2011, my co-founders and I were looking to get into a market we knew little about: foreign investment. We saw an opportunity in helping Chinese investors find projects in Latin America (my home continent), but we had a few obstacles to overcome: Neither of us knew Chinese or had any experience in international finance.
Our solution? Get a rock-star board of advisors to provide expertise and connections. While having an advisory is often a necessity for startups (us included), nabbing a stellar team isn't easy.
For companies just starting out, here are a few tips on how to get advisors and best practices for leveraging your board:
Navigate your network. Like I mentioned, finding the right advisors isn't easy. How do you wrangle in top-notch people to work for free?
It was frustrating at the beginning. We met with more than 200 investors (we counted) who gave us a lot of great contacts and insights but no advisors.
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