How To Create A Personal Board Of Advisors

TL;DR

Create a personal board of advisors by gathering experts, peers, and mentors whose experience matches specific areas of your business, such as finance, marketing, sales, growth, and product psychology. The founder describes building a network of over 80 mentors and advisors across distinct specialties, emphasizing chemistry, openness, and honest feedback alongside expertise. Read on for the selection framework and practical benefits of this approach.

Transcript

are you a Founder that's looking to build your personal Board of advisors or maybe you're looking for a mentor to help with Finance Marketing sales and growth today I'm going to share with you how to create your personal Board of advisors so if you're a founder and you're looking to level up and surround yourself with some amazing mentors then this... Read More

Key Insights

• ❓ Mentors and advisors who have already achieved what you aspire to can provide valuable guidance and shortcuts.
• ⭕ Surrounding yourself with a tribe of legends and being intentional about your circle can greatly impact your entrepreneurial journey.
• 🗯️ Building a personal board of advisors requires selecting people with the right expertise, chemistry, and willingness to provide honest feedback.
• 💞 The process of building a board is dynamic, requiring continuous refinement and expansion based on growth and evolving needs.
• 👨‍💼 Personal advisors provide clarity, guidance, and a sense of belonging, helping you navigate challenges and level up your business.
• 😌 The value of a personal board of advisors lies in their ability to provide specific insights and perspectives in different areas of your business.
• 🆕 Engaging with advisors on a regular basis can lead to new revelations and fresh perspectives, improving decision-making and strategy formulation.

Questions & Answers

Q: How do you create a personal board of advisors?

Identify the areas of your business where you need guidance, then find experts, peers, and mentors with proven experience in those specific areas. Select people who also have strong chemistry with you, allow open communication, and provide honest feedback.

Q: What is a personal board of advisors?

A personal board of advisors is a collection of experts, fellow founders, and mentors who support different parts of your business. Experts act as intellectual sparring partners, peers have your back, and mentors help you pursue specific outcomes.

Q: Why should a founder build a personal board of advisors?

Advisors who have already reached relevant goals can share proven playbooks and reduce guessing in entrepreneurship. They can clarify priorities, offer new perspectives, create connections and opportunities, and help unblock difficult business decisions.

Q: How is a personal board of advisors different from having one mentor?

One mentor may not have enough experience across every facet of a business, and relying on that person creates a large commitment that can become one-sided and transactional. A board distributes guidance among people with specialized expertise in areas such as marketing, sales, finance, growth, audience, and product psychology.

Q: Who should be on a personal board of advisors?

The board should include experts, peers, and mentors selected for the areas that matter to your business. The speaker cites Justin Welsh for LinkedIn growth, Greg Eisenberg for community growth, Dan Benoni for product psychology, Alex Hormozi for sales, and Cody Sanchez for YouTube.

Q: What qualities should you look for when selecting advisors?

Experience and expertise matter, but the advisor's character and relationship with you are also important. Look for great chemistry, openness, honesty, and a willingness to give candid feedback.

Q: What business areas can personal advisors help with?

The transcript identifies finance, marketing, sales, growth, audience, community growth, LinkedIn, Twitter, YouTube, and product psychology. The goal is to have the right person available for each important area rather than expecting one mentor to cover everything.

Q: What is the long-term vision for a personal board of advisors?

The speaker's vision is to have the right people in the right seats for every business area that will matter over the next decade. When an important question arises, a relevant advisor should be only a call or text away to provide clarity, a new perspective, and help with continued traction.

Summary & Key Takeaways

• Definition: A personal board of advisors combines experts, peers, and mentors who support specific parts of a founder's business.

• Who: Experts serve as intellectual sparring partners, peers are fellow founders who offer support, and mentors help pursue specific outcomes.

• Number: The speaker built a network of over 80 mentors and different advisors.

• Number: The speaker began building businesses 14 years ago.

• Number: The speaker sold Canada's first technology boot camp at 23 years old for eight figures.

• Number: The speaker built a cannabis community of over 14 million people.

• Number: The speaker now runs Internet businesses producing over 5 million dollars in revenue a year.

• Compare: One mentor may lack the experience to guide every business area, while a board brings together specialized knowledge.

• Who: Named advisors include Justin Welsh, Greg Eisenberg, Dan Benoni, Alex Hormozi, and Cody Sanchez.

• When: The long-term vision covers business areas that will matter over the next decade.

• Tool: A call or text to the relevant advisor can provide clarity, unblock the founder, and offer a new perspective.