Have you ever wondered why startups bring on advisors in the early stages?
Having the right partners can be a game-changer for founders.
I’ve seen countless examples of founders who understand the value of having knowledgeable advisors guiding them. I’ve also seen the inverse where founders fall short thinking they know best what the market needs without taking the time to understand the needs of their buyers and listen to their customers. Why? Advisors who work in the industries their products serve provide invaluable guidance on product, sales, and marketing strategies that can help the product and business grow faster.
Through my work with PeopleTech Partners, SemperVirens Venture Capital, and other valued relationships, I’ve had the opportunity to advise 12 (and counting) people technology companies over the years.
Helping founders understand the needs of their product’s ideal customer profile (ICP) speeds up their learning curve so the startup can hit the ground running and achieve long-lasting success! The work can be incredibly rewarding, but if you’re not equipped with the right approach you as well as the company you’re advising may struggle through this process.
I’m often contacted by folks looking to carve a similar path as a product advisor but don’t know where to start.
Do you have unique industry knowledge to share?
Are you looking to take on advisor roles as a side hustle or as a step toward retirement?
Do you want to give back to the community you served throughout your career?
Do you view advising as a way to continue learning and growing?
If your answer to any of the above questions is “yes”, this guide is for you!
The Product Advisor Getting Started Guide breaks down the steps you can take to achieve your goal of being a product advisor.
In this guide, you will learn how to:
Build your industry knowledge, network, and brand
Understand your motivations for advising
Crystallize your value proposition and sales pitch to founders
Negotiate your scope of work and compensation
Get set up for success and identify potential red flags
Navigate challenges and end advisor relationships
Learn steps to take to navigate the process more efficiently and make a meaningful contribution.
Want to dive deeper?
Shelby is an advisor to ChartHop, Hone, Oyster, BrightHire, Learnerbly, Gable, Pando, Pyn, Mosey, and others.
If you’re looking for more individualized advice on achieving your goal of becoming a product advisor, you can book “Ask Me Anything” micro consulting time.