A Brief Introduction of Advisors and their Role in your Startup Journey

While a startup founder’s vision and ability can make or break a company, no entrepreneur has achieved monumental success alone. 

The startup advisor job is one that keeps founders from learning via trial and error. Before you run the risk of running a brilliant idea to the ground, take some help from those who have already been there, done that. 

An advisor for app startups is someone who has industry experience and expertise and can work with and provide guidance to the founder of a startup. They have either helped build an existing company or have run their own. Advisors offer important connections and most even have a stake in the company. This often incentivizes the advisory board to be more active in the progress of the business. 

What do Advisors Really Do?

While most founders assume that an advisor is someone you get coffee with once a month or send an email to when you find yourself in a tough spot, that is not entirely accurate. 

Provide Credibility in the Market

The biggest thing an advisor does from a startup still looking for funding is backing them up by their reputation. Influential and prospective investors will want to know who will be behind the wheels of your operations. Seeing your advisors on the roster will boost their confidence in your project. 

Help Scale Operations

Working in the industry, advisors can help you make adjustments that will make your operations more productive. 

Offer Networking Opportunities 

Advisors have amassed a myriad of useful contacts throughout the duration of their careers. These contacts can be super beneficial to you. Whether it is regarding expertise, collaborations, or finding funding for your app. Advisors can also direct you to the right PR professionals while vouching for you, which gets the word out about your product in the market. 

Help you Find Legal Advice

You definitely need to be on top of the latest happenings in the app regulation world and for that an advisor can point you to a professional they know you can rely on. 

Help You Install Financial Management

Financial management is one the most crucial parts of any app startup on a budget. A good advisor would know that. If this is your first time heading a company, you cannot spend all your effort and time doing the books, you need someone who can sort that and make realistic projections that will serve as goals for you to work towards. 

Advisors do not really have a set timeline on how long they should be attached to a company In fact, you can dismiss and recruit members of the advisory board as you please. 

While Advisors offer feedback on your decisions regarding the startup, founders must also remember that they too can give them feedback on their contribution to the company. If you feel that an advisor has let you down, it would be a productive step of you let them know that you expect them to deliver in the future.