We Live to Build You're Building Your Advisory Board All Wrong
You're Building Your Advisory Board All Wrong. In this interview, Breen Sullivan, founder of The Fourth Effect, explains that most early-stage founders don't understand the difference between a governing board and an advisory board, how to compensate advisors, or what they should even be getting from them . She argues that the primary purpose of an advisory board for a pre-seed or seed-stage startup is simple: to help you raise money. Breen also gives her blunt take on why fundraising is 100% not fair and "totally who you know", and breaks down the difference between the 2% of founders who get money based on the jockey and the 98% who have to prove the horse by going through the trough of sorrow. Check out the company: https://thefourtheffect.com Check out the company: https://thefourtheffect.com
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📚 NETWORK BEFORE YOU NEED IT (6 LESSONS THAT MADE SEAN $15M)
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▶ Get my eBook free - https://welivetobuild.com/network
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📈 WORK WITH ME
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▶ Buy 300 Lessons From 300 Founders: https://welivetobuild.com/300-lessons-ebook
▶ Book a Paid Advisory Session: https://welivetobuild.com/book-a-call
▶ Startup Fundraising: https://welivetobuild.com/fundraising
▶ Sponsor the Channel: https://www.welivetobuild.com/sponsorship
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👀 CONNECT WITH SEAN
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▶ LinkedIn: https://linkedin.com/in/seanweisbrot
▶ Inquiries: welivetobuild@gmail.com
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🕒 CHAPTERS
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00:00 - Fundraising is 100% Unfair (And It's Who You Know)
03:15 - The 2% "Jockey" vs. the 98% "Horse"
06:00 - Bootstrapping: A "Secret Weapon" for the 98%
08:45 - How to Turn Angel Investors into Active Advisors
11:30 - Governing Board vs. Advisory Board: What's the Difference?
14:20 - The #1 Reason You Need an Advisory Board (It's to Get Money)
18:00 - Why a Founder Who Ignores Advisors is a "Fool"
21:10 - My Goal: Convince VCs, Not Just Founders
24:00 - The Glaring Inequity of the Startup World
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