Advisor Board in the development of an innovation project

click fraud protection

According to statistics, 90% of startups fail.Under the "start-ups" meant not all the new businesses, in principle, namely companies that are trying to build a business on a certain know-how, economic or technical innovation, which is a major competitive advantage.

Often such projects are beginning to deal with people without serious entrepreneurial experience.Simply due to the fact that non-standard ideas usually come to those who are engaged not only in business.In addition, the construction company, when you have on hand, such "breakthrough" innovation often seems to matter more easily than the opening, such as hotels.However, more often than not, and to the standard risks of business as usual, and adds business process risks.

And it becomes clear that one is a warrior.Prior to this stage most of the smart people reach still at the planning stage, and part of the retreat.Others lack the courage and stubbornness to move on, and then begins collecting team.People are looking for, which once developed similar technologies are searched marketers and managers, experts in the development of new products and sales.And now, the team is assembled.However, it is far from ideal, because people who have enough experience or are too expensive and do not want to go to work, or they simply do not exist in nature.However, the issue does not become smaller.On the contrary, their number is growing.The competent staff saw in the original idea of ​​a few holes, which the founder did not notice.Then the team began working on the closure of these holes.It takes a couple of months, and the founder is faced with the fact that the pace of the project is over budget more quickly than would be received at least an ephemeral opportunity to make money.Then thoughts returning to those people who do not get hired.After all, they have more experience, they have already made all the mistakes, and they have all the right connections.And here comes the inspiration.

To hire these people, of course, still can not, but what prevents ask them for advice or ask to introduce you to the right people?And then the team is able to make this board or contact to the real result, you only need a little push.And they do not cost anything, except for a couple of hours time.Simply put, it is necessary to look for advisors.

Most start-ups in Silicon Valley and other ecosystems have developed similar advisory council or «Advisor board».Most often it is the entrepreneur or the top managers of large companies from the same area in which the works start.Also in the Advisor board often includes venture capital investors who have already successfully invested in projects in the same area and they got through a variety of connections.

motivation of such people is the most diverse.As already mentioned, some of them - venture capitalists, who are happy to meet with an interesting project, give some useful tips and present to people who you have something to offer, if the advisor familiar with them.Their interest is to test the way the project team, whether it is to realize the benefits obtained, and whether to invest money in it.So appeal to investors for advice - it is also a good way to get investment.Of course, only if the project is quite promising.A little trick can only be that the investor will not help too much the project, which he is going to invest money, but have not yet done so.Because the rapid progress of the project will increase the cost, and the same share would have to lay out more money.

Another option - it is the people who just may be interesting to discuss with you your idea.They are not investors, they are not going to invest in you the money, but the experience can be useful for you.If you find such people approach you can get advice for free.In some cases such advisors allocate a small share in the company, usually it is about 1-2%, depending on the current evaluation of the project.

There are also companies and experts that will expose startup hourly price for their advice, but most often it is not worth it.

addition to a full-time communication, you can often get good ideas from the public presentation of the project on various online platforms.It can be specialized forums in your industry, or else the resources where it publishes information about startups.