“If you always do what you’ve always done, you’ll always get what you’ve always got!”
~ Alan Scott
Building a Board of Advisors and/or hiring accomplished employees will boost your credibility and show VCs that you know how to execute, and can thus effectively grow your business with the funding they invest in you.
Advisors are successful people that agree to help your company. They are often successful and/or retired executives, business owners, service providers, professors, or others that could help your business.
Advisors generally will not cost you any money (you don’t pay them), although I do recommend giving them stock options to incentivize them to contribute as much as possible.
Getting advisors is not a requirement for raising money, but they have multiple benefits as follows:
- They are good to practice your pitch on
- They often have connections to capital
- They give your company more credibility
- They can help you solve operational challenges
Why 91.2% of Companies Fail to Raise Venture Capital
Do you need funding to grow your business?
On this page, I reveal my proven strategy to raise $1 million (or more) from venture capitalists.
When you go there, you’ll learn why the old way of raising venture capital no longer works and most companies fail to raise VC funding.
And more importantly, I’ll show you what IS working today.
Today’s Question: Who owns the most patents in the United States?
Previous Question: In 1996 what overtook Coca-Cola as being the most well-known brand name in the world?
Since then, the first McDonald’s worldwide campaign ever produced outside the U.S., “I’m lovin’ it,” resulted from a breakthrough “competition of ideas” held among top international advertising agencies to spark a new brand attitude and direction, and is translated into 12 languages worldwide.
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