How to Curate Your Personal Advisory Board as an Entrepreneur

Written by: Online Business Owner • November 08, 2021

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As a business owner, there are always questions about what to do next, where to focus, and how to get to where you want to go. In the online business world, many entrepreneurs turn to business coaches, free Facebook communities, courses, and group programs to get the guidance they need.

But, in the startup world, problem-solving is handled differently. Many founders rely on mentors, incubators, accelerators, and advisory boards to help them navigate the most overwhelming business decisions. The advisory board they turn to is typically made up of well-connected industry leaders and other founders and investors. They may meet formally or they may have more of a “phone call away” type of relationship. Either way, this board provides an important layer of support for founders.

As an entrepreneur, having layers of support like this is vital. Whether it’s support from a partner or parent, best friend or biz bestie — having folks on your side when the going gets tough can make the difference between thriving and just barely surviving. 

And while your online business may not have the size or scope where a formal advisory board makes sense, you can still curate your own personal advisory board that you turn to when you need support.

Here are the 7 types of advisors you want to have in your corner as you start and grow your online business... 

• The Hype Guy or Gal -- this is your YES person who believes wholeheartedly in everything you do.

• The Questionnaire Extraordinaire -- NOT a skeptic; but, they always know the right question to ask.

• The Master Connector -- somehow they know everyone you need to know (and they’ll intro you).

• The Money Magnet -- these people are always raking in the dough, let that energy rub off on you.

• The Rest Advocate -- the friend always telling you to slow down is someone to keep close.

• The Systems Pro -- look for a person who has checklists for their checklists -- learn from them.

• The Fun One -- the class clown that never fully grew up will keep you grounded and light.

You don’t need a formal board that you invite people to be part of; instead, look at your current friends, mentors, and support system line-up -- think about who you consider a trusted advisor and where you get your support. 

Things you can do this week to curate your personal advisory board

1. Think about your current circle and who you turn to the most when you need help or have questions -- what insight do you wish you had that is missing?

2. Do you have someone in your circle who fits all of the types of advisors listed above? If not, what type of advisor isn’t there?

3. Make a list of places you can engage and people you can connect with to help round out your personal advisory board.

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