While that may seem like a novel idea, the fact is that successful entrepreneurs have been doing such things for years-not because it’s “faddish” but because they usually have very limited resources at the outset. An entrepreneur certainly should seek professional advice from his/her accountant and lawyer. Yet, too many fledgling entrepreneurs either don’t seek ...

When a startup receives financing it will need to setup a Board of Directors. The Board probably existed beforehand, but was made up only of the founders. Once funding takes place, the angels or VCs will want a seat at the table. There’s no surprise there. But there’s another kind of board that’s equally important. ...

Some people say, ‘don’t worry about an advisory board, they’ll take up too much time and become a distraction, just focus on the essentials.’ Of course you must stay focused and concentrate on building the business. However, I’d argue that an advisory board is one of those ‘essentials’. For example, in the early days of ...