You're Building Your Advisory Board All Wrong

Episode 217 of the We Live to Build podcast, hosted by Sean Weisbrot, titled "You're Building Your Advisory Board All Wrong" was published on February 11, 2025 and runs 25 minutes.

February 11, 2025 ·25m · We Live to Build

Summary

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.comBook a 1-on-1 advisory session with me to apply these principles to your business: https://calendly.com/wltb/advisory👀 CONNECT WITH SEANSubscribe: https://www.youtube.com/@seanweisbrotLinkedIn: https://linkedin.com/in/seanweisbrotInquiries: [email protected]🕒 CHAPTERS00:00 - 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 Advisors11:30 - 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 Founders24:00 - The Glaring Inequity of the Startup World📈 WORK WITH ME▶ Book a Paid Advisory Session: https://calendly.com/wltb/advisory▶ Sponsor the Channel: https://www.welivetobuild.com/collaborate▶ My AI/Automation Agency: https://optimai.aiLeave a Review (it truly helps us grow): https://welivetobuild.com/reviewHow I Made $15M: https://welivetobuild.com/networkSubscribe on YouTube: https://youtube.com/@seanweisbrotFollow Sean on LinkedIn: https://linkedin.com/in/seanweisbrot Hosted on Acast. See acast.com/privacy for more information.

Episode Description