finding advisory board

[Anonymous No.927657]

i am reading some material about starting up a business and i came across to the advisory board.
it says that an advisory board can help with credibility if you are new and inexperienced in the field.

how do i find such advisors and what do they get in return?
my information is not clear about how that works.

let's say that you want to start a shoe company for example.
who would the advisors be?
(apologies for strange english)

[Anonymous No.927676]

>>927657
>let's say that you want to start a shoe company for example.
>who would the advisors be?

Why me of course. Yes, it is as simple as that. You enter particular keywords into the 4chan and the appropriate adviser gets notified via the 4chan algorithm.

Just call me Mr Sole. Now lets get started. Tell me more about your idea for a shoe store (location, style, demograpgic) and we'll go from there.

And as always, thank you for using the 4chan.

[Anonymous No.927681]

i wish i was a black person

[Anonymous No.927709]

>>927657

Generally speaking you want advisers who can fill in the gaps in your knowledge and experience to help your company grow.

A standard advisory board includes people with experience in marketing, accounting and law. It varies though, and depending on your business you might want technical insights, managing advice or some other input.

There are 'consultants' everywhere nowadays, and many businesses receive offers from would-be advisers/board members to help them grow the day they register. Generally speaking most of these are useless vermin who have no value to add to your business.

For a shoe-sole business, you would want someone to fill in the gaps in your experience and help you with the strategic planning to make the business grow. So for instance if you want to expand your market to a national level, you would want someone who has done that before with a different product to come on board and help you develop the plan to do so.

[Anonymous No.927742]

>>927709
can you contact them directly and ask them to help you out?
people more experienced or even someone you look up to and is relevant to shoes, like a designer.

also if you are a one man operation and have no stocks etc, how do they get paid?
is it possible to find advisers to help you just becausr they like what you are planning?

[Anonymous No.927755]

>>927742

Absolutely you can contact people directly. I would say that's the best way to go about it.

You don't necessarily have to compensate your advisers directly, but they will all want to have something out of it. The challenge for you is figuring out what it is and how you can give it to them.

[Li_Sheng !n54GAoW8Vs No.927767]

This is the B-I Triangle, its the most general form of a business. Its your job to translate this into people to do the job.

Mission - the CEO
Team - the Partners and the other C-Level folks
Leadership - The decision making capacity of the group above

Cashflow - Monitored by good bookkeeper every month or accountant during tax season, they measure product velocity in retail

Communications - Marketing, web marketing, signmakers, customer service reps, salespeople, Mailers, Flyers, word of mouth, customer outreach

Systems - These are your midlevel managers, You run a retail location, they handle inventory, orders, shipping, website technical management, Human Resources, scheduling, manufacturing runs if you have your own brand, inventory management, retail location selection and outfitting

Legal - generally retail its just employment contracts, rent contracts, trademarking, manufacturing/inventory contracts, basic liability

Product - Shoes and shoe experts, brand and brand experts.

You and some folks are gonna have some seed money. You're gonna talk to all the shoe store owners/managers in town and maybe out of town. Not the staff managers the real managers.

Generally the first few are partners, and put in equity. The first hires are gonna want a salary and some equity for compensation, with the Barebones product off the ground and financed you may hire advisers for advisory shares, they're allowed to talk in meetings but not allowed to vote generally, lawyers are generally on retainer, some folks are in until they make their return,
Each of these is its own individual negotiation, though so its tough to say.

[Li_Sheng !n54GAoW8Vs No.927770]

>>927742
stocks are just sheets of paper with words, everybody has them.

Rarely do you contact them directly. most high level operators have a team that you should go through.

http://fourhourworkweek.com/2015/09/11/drunk-dialing/

Tim Talks about it to a few fans on this episode.

[Anonymous No.928849]

>>927767
cool although i don't fully understand equity yet.
all my company will have is the money i will throw at it to start up and then income and expenses.
is equity like a cut from my income to the advisers?
>>927770
i will listen to this drunkard. seems alright.

[Anonymous No.928857]

>>928849
I think equity is basically another word for ownership.
If it's just you, you have all the equity. If you had partners, it would be divided amongst you. Same with shareholders. An investor may or may not get equity (could just get royalties or just be providing a loan).