Tip #48: Advisors

Tip 48: Advisors. Many presentations include a separate and long list of advisors. This is rarely worthwhile.

1) Often those advisors aren’t integral to the business – you could be successful without their guidance, or with the guidance of many alternatives. This is particularly true of “generalist” advisors (accountants, lawyers, consultants) – omit them.

2) Medical advisors’ names are often meaningless. Presenter: “We have Dr. Backrub Extraordinarius PhD MD as an advisor.” Audience: “Who he’s? So what?”

3) Advisors typically aren’t even contributing to the business. Audience: “And you expect us to believe that the US’s leading authority on back rubs is actively contributing to this startup in Laurens South Carolina?” More likely this is just filling up space with irrelevant information.

If there’s really a key advisor that is helping you, include their qualifications and prowess – and their actual contribution to the business. One toy company pitched with a former CEO of a huge toy company actively helping with sales connections and introductions – a huge plus. A medical device company showed a long list of medical advisors who were experts in the field, but made no case they were actually engaging – no help.