What to Think About When You Think About Advisors
You can’t build your business alone so advice is critical. In a recent hangout, we chatted with experts in the startup space for their expertise on how to surround yourself with the smartest people possible, to give your business the best chance for success. Here’s what they said:
Look for enthusiasm. Find people who are interested in your company and your success, and find a range of opinions for balanced help. Says Seth Levine, managing director at venture capital firm Foundry Group, “The quality of the business and the life of success increases as people open themselves up to advice.”
Play the long game. When you pick your advisors -- your accountant, your lawyer, and even your banker, consider those who can advise you as your business grows. For instance, bankers “like to talk and share ideas not just for the transaction but because they feel they are building a relationship for the long term” says Wole Coaxum, a business banking executive at Chase.
Beware of your own passion. Your own excitement can blind you from your true risk profile, says Levine, who sees hundreds of business plans, some that are stronger than others. He suggests you find a way to balance your enthusiasm with your advisors’ expertise.
This video is editorial content and reflects the personal views and opinions of the participants.
Entrepreneur Editors' Picks
Tory Burch Built a Brand Around Empowering Women. Now Her Foundation Is Furthering Her Mission: 'How Do We as a Company Have a Positive Impact on Humanity?'
This Founder Had to Play College Basketball in Men's Shorts and Shoes, So She Launched an Athletic Clothing Company Named After the Now 50-Year-Old Title IX Act
Is Beyoncé's 'Break My Soul' the Theme Song of the Great Resignation?
You're Probably Falling for All of Amazon Prime Day's Psychological Sales Tactics. A Marketing Professor Reveals Them — and How You Can Actually Get the Best Deal.
Comedian Paul Virzi: 'If You're Not Authentic, You Have Nothing'
Struggling to Come Up With Creative Ideas? Try Doing This.
Picking a Winning Emerging Brand Is How You Get Rich in Franchising. Here's How to Spot One.