Many people dream of becoming entrepreneurs, and often the biggest...
Letting technology do the heavy lifting for certain monotonous tasks...
While small businesses must handle day-to-day tasks—like managing...
Benefits administration can be a game-changer for small...
January 22, 2017
Is there a secret sauce to startup success?
It turns out, there just may be. What if we told you that an advisor is a step in the right direction and one that might propel you to triumph?
Whether you have one advisor or an advisory board, you’ll find that they can be a valuable resource, especially as you move towards your startup launch day.
An advisory board can help you move ideas from the idea stage to fruition. They can guide and help put you solidly on the path to success.
Advisors provide a good sounding board for ideas and strategies.
If you find the right advisors, they can help propel your startup. Experience from trusted advisors is a beneficial resource for you.
Consider adding advisors who’ve actually launched a startup, investors and/or others in the business community.
How do you find an advisory board? Follow these steps to put together the right mix of people:
Just what is the role of an advisory board? Think of them as a group of mentors who care about your startup product or service and want to see you succeed.
The advisors can provide you with their expertise and advice. They can help you network in the right community. And, they can ultimately guide you off a mistake-ridden path onto one that has a better shot at success.
Your advisory board is not a board of directors – they don’t have a stake in your company or any legal powers.
In other words, they exist simply to help you succeed.
A good advisory board supports you and makes you better.
Most business people know launching a startup is a tough business with challenges every day.
A good advisory board helps you rise to the top with in-the-moment advice and guidance.
The Startup Genome project found the following to be true: “Startups that have helpful mentors and advisors, track performance metrics effectively, and learn from startup thought leaders raise 7X more money and experience 3.5X better user growth.”
As you can see, having such an advisory board can be very beneficial.
You don’t have to be the expert on everything, and it’s okay to ask for help. Advisory boards are good for startup CEOs, and they can mean the difference between success and failure.
Are you a new startup ready to succeed? Are you looking to get your new business off the ground and watch it rise to success? We are here for you. We can help answer your questions and guide you through the process. Outsource your HR duties, finances, payroll and more to us. Contact Escalon today to get started.
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
While small businesses must handle day-to-day tasks—like managing payroll or closing monthly books—long-term planning is the compass that keeps them...
Benefits administration can be a game-changer for small businesses aiming to attract and retain top talent. While salaries remain an...
Choosing the right accounting method can significantly impact how you track financial performance, manage taxes, and plan growth. Two common...
Bootstrapping—financing growth through internal cash flow—is a hallmark of many successful startups. But as businesses mature past their initial stage,...
In today’s business landscape, technology is more than a convenience—it’s a strategic asset that can supercharge growth. But as you...
The month-end close can feel like a perpetual scramble—collecting invoices, reconciling accounts, fixing last-minute errors. A drawn-out close not only...
Overhead costs—from utilities and rent to administrative staffing—can quietly swell until they erode profit margins and slow your ability to...
Growth triggers a tidal wave of financial complexity, multi-entity operations, new product lines, overseas expansion, or investor relations. If your...
Mergers and acquisitions (M&A) can dramatically alter a company’s trajectory—unlocking new markets, technologies, or customer bases. Yet, many deals stumble...