The 4 characteristics I look for in startup advisors & venture board members
Strength of relatable experience; They do it for joy; They know that they don't know the answer; They show up authentically
🤔 🤩 These are the 4 characteristics that I believe are the most significant indicators of how impactful startup advisors and venture board members will be:
⭐ 1️⃣ Strength of relatable experience
⭐ 2️⃣ They do it for joy
⭐ 3️⃣ They know that they don't know the answer
⭐ 4️⃣ They show up authentically
What do I mean by that?
⭐ 1️⃣ Strength of relatable experience
They have genuine, many-year experience operating with either ownership or critical accountability in challenging #startup environments and growing/scaling companies.
🛩 They have built the plane and flown the plane, and know what that feels like in both blue skies and inclement weather.
⭐ 2️⃣ They do it for joy
They act as advisors/board members/investors primarily because for them, it's fun.
👀 Piecing together effective #businessmodels and operationalising ambitious thinking is what lights up their eyes.
They want to work with #founders on this because for them, it's inspiring and brings them joy to do so.
⭐ 3️⃣ They know that they don't know the answer
They have insight and expertise in some areas, but not in all areas. And they know that.
🕵 ♂️ In areas where they are expert, they have the humility to know that whilst that means their thinking and perspectives might help them get to a useful next best guess in tandem with the founders they work with, that is all it means. It doesn't mean that they know the answer.
⭐ 4️⃣ They show up authentically
They have no interest to self-aggrandize or be fawned over. In scenarios where they are fawned over, they want no part of it. They are here to participate, not to be celebrated.
🤷 ♀️ And so they show up with #honesty and with their own flaws and failings. They are ready to contribute as they are, rather than as they might hope to be perceived.
💡 🔍 In my experience, it tends to take people that are comfortable with who they are and what they have achieved to do these things well.
Find these people, and you will have found some great advisors.