I wanted to appoint an
Advisory Board. I thought it would be great to make introductions and provide
us with advice. I thought one of my professors would be helpful but I didn’t
know who else to ask. I talked with my brother who suggested that I write down
the type of advice I needed and then find the right people. I followed his
advice and thought I needed at least four people- finance, strategy, retail/wholesale,
and government relations.
We are a startup and when
I approached well known people in each area, they said they didn’t have enough
time but they liked the idea and I could contact them in the future to keep
them updated. I took this as code for we aren’t big or exciting enough for now.
I followed up with others
who said they would be happy to help but they had limited contacts and access. I
realized if I appointed them now, there wouldn’t be room for the people I really
wanted in the future. Should I delay appointing an Advisory Board?