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
Book a 1-on-1 advisory session with me to apply these principles to your business: https://calendly.com/wltb/advisory
👀 CONNECT WITH SEAN
Subscribe: https://www.youtube.com/@seanweisbrot
LinkedIn: https://linkedin.com/in/seanweisbrot
Inquiries: welivetobuild@gmail.com
🕒 CHAPTERS
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
📈 WORK WITH ME
â–¶ Book a Paid Advisory Session: https://calendly.com/wltb/advisory
â–¶ Sponsor the Channel: https://www.welivetobuild.com/collaborate
â–¶ My AI/Automation Agency: https://optimai.ai
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