{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/63d3ad1a963ae60011f9ff7f/67a616033eadb4f8088d4a10?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"You're Building Your Advisory Board All Wrong","description":"<p>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</p><p><br></p><p>Book a 1-on-1 advisory session with me to apply these principles to your business: https://calendly.com/wltb/advisory</p><p><br></p><p>👀 CONNECT WITH SEAN</p><p>Subscribe: https://www.youtube.com/@seanweisbrot</p><p>LinkedIn: https://linkedin.com/in/seanweisbrot</p><p>Inquiries: welivetobuild@gmail.com</p><p><br></p><p>🕒 CHAPTERS</p><p>00:00 - Fundraising is 100% Unfair (And It's Who You Know)</p><p>03:15 - The 2% \"Jockey\" vs. the 98% \"Horse\"</p><p>06:00 - Bootstrapping: A \"Secret Weapon\" for the 98%</p><p>08:45 - How to Turn Angel Investors into Active Advisors</p><p>11:30 - Governing Board vs. Advisory Board: What's the Difference?</p><p>14:20 - The #1 Reason You Need an Advisory Board (It's to Get Money)</p><p>18:00 - Why a Founder Who Ignores Advisors is a \"Fool\"</p><p>21:10 - My Goal: Convince VCs, Not Just Founders</p><p>24:00 - The Glaring Inequity of the Startup World</p><p><br></p><p>📈 WORK WITH ME</p><p>▶ Book a Paid Advisory Session: https://calendly.com/wltb/advisory</p><p>▶ Sponsor the Channel: https://www.welivetobuild.com/collaborate</p><p>▶ My AI/Automation Agency: https://optimai.ai</p>","author_name":"Sean Weisbrot"}