When you are Designing the Perfect Advisory Board™, you need to interview potential Advisory Board Members.
I’ve given conference talks on the value of an Advisory Board (including some really helpful resources on the Perfect Advisory Board™) and wanted to help you get specific about compiling your Advisory Board.
Here are some potential interview questions that may allow you to really get to know if a potential Advisory Board member would be a good fit and an asset to your startup.
- Why do you believe in or support our mission and vision?
- Do you think you have the skills and background to help us accomplish this mission and vision? Please describe.
- What strengths do you think we have as a team? What weaknesses?
- What obstacles do you think will be the biggest hurdles to success?
- Can you think of people you know right know who could be helpful to us? Are you willing and able to introduce us?
- Are you willing and able to help us build our Advisory Board by reaching out to other potential Advisory Board members on our behalf
- What don’t you understand about our startup that you would like to (can be basis for future discussion)
What kind of people do you recruit?
- Committed to your vision
- Confident in your team and good to work with
- Someone you trust or can build trust with
- Experienced in the industry segment and/or market channels or in a specific area of need
- (May be) experienced in capital raising
- Willing to put you on their LinkedIn profile, post about you on social media and amplify your posts and progress
- Willing to do work on your behalf by making connections and introductions (Inbound and outbound)
- Person of character – ethical and honest and fits with company culture
- Willing to spend time and offer advice
- Able to pass a reference check and background, just like any high level employee
- Does not have any conflicts of interest (make sure to get a signed disclosure of their other obligations, boards, significant ownership stakes etc)
- Understands that the Advisory Board role is not “forever” and that Advisory Boards change as the startup’s needs change
- Comfortable and motivated by the amount of equity you can offer (usually .25% – 1% of the company at the earliest stages, for 9-15 hours per quarter at a minumum).
Interested in a Template to help you put together your Advisory Board, see our post Advisory Board Agreements – Suggestions and Templates
If you want advice and support as you build out your team, check out our StartupTherapy™ Resources and Help page! Lots of great help.
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