Board of Advisors

Definition

A group of experienced people who provide strategic guidance to your startup in exchange for equity and the dubious honor of helping you avoid catastrophic mistakes.

Example Usage

We assembled a board of advisors including a former CEO, a successful founder, and a venture partner—their input has been invaluable, occasionally.

Origin

Corporate governance terminology

Fun Fact

Most startup advisors contribute meaningful guidance for 6-12 months then disappear; finding actually engaged advisors is harder than raising capital

Source: Corporate governance and startup operations terminology

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pitch deck

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