Where do advisors come from?

I can still clearly remember the day Shannon and I were first introduced to the concept of an advisory board. We had taken a meeting with a fairly well known startup mentor in Ottawa to discuss our progress and look over next steps. Towards the end of the meeting he looked at us and asked;

“Do you have an advisory board?”

Shannon and I looked at each other and replied, “No?”

That afternoon as we drove back to Cornwall we decided to do a little thing called a Google search to learn a bit more about business advisors and the importance of an advisory board. We ended up coming across this great article that touched on not only the value of having an advisory board but suggestions on how to form a well-rounded board.

After reading the article and doing a little more research we decided that forming an advisory board would be in our best interest for the following reasons;

1. Credibility: We figured we would be taken more seriously and be given more credibility if we had a group of experts and/or business leaders affiliated with our startup.
2. Guidance: We knew that there was a lot that we didn’t know! Being able to lean on our advisors for advice and direction would turn out to be a huge resource for us.
3. Network: Each advisor has their own network and connections that could potentially help us in various aspects of the business.  

A couple of weeks later we participated in our first pitchfest at Startup Ottawa. I’d like to say we pitched FanSaves well minus a couple of small hiccups but we thought we did well enough to land a spot on podium. As soon as we finished our pitch I can still remember walking off the stage, still kind of in the zone, when the guy who delivered the keynote earlier quickly pulled Shannon and I to the side. He said “You guys have a great business and I’ll be shocked if you don’t win!” This was definitely a nice thing to hear considering it was our first pitch and we had been nervous all day.

We didn’t end up winning the pitch but still we smiled, shook hands and congratulated the winners as the judges mingled with the participants during photos and the check presentation. Right after the winner was announced we had another man stop us. This man had been one of the judges and was genuinely interested in learning more about FanSaves and how he could help us with some connections. After a quick exchange we swapped cards, said our goodbyes and grabbed whatever finger foods were left for the road trip back to Cornwall.

Over the next few weeks, we connected with both of the individuals mentioned above from the pitchfest and had some great conversations as we dove deeper into our business.

We met with both of them for coffee a couple times separately and eventually we got to know them both really well on a personal level. They both wanted to help us with as little or as much as we wanted and really believed in us. The judge was the first person we asked to join our board and months later the keynote speaker would join as well. Both of these relationships were very natural and that’s what made them a good fit for us.

Fast forward to today, we are very proud to have a diverse ten person advisory board who have each provided us with tremendous value and clarity. They have helped guide us to make sound business decisions and we are truly grateful for each one of them as a part of our story.   

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