Sunday, March 24, 2013
You Are Not Alone...
and you do not need to be. When I had my own business it was a lonely start. Several of my clients were in the immediate area, but my market was outside the region. What I realize now is I may have a general understanding of several aspects of business, but access to greater expertise in several fields would have been immensely beneficial.
Generally, an advisor brings a skill not possessed by the entrepreneur. An example is marketing or accounting. An advisor is compensated in some form, perhaps stock or some other non-cash payment. The article also suggests an agreement be executed.
For a start-up business man unable to form a board of directors due to time constraints, this is an excellent alternative. It is important not to request too much time or involvement from an advisor. Rather consider an advisor as a check on an activity you may undertake, but is unfamiliar to you.