Approaching Potential Advisors

Here are some techniques to use when approaching advisors:

• Existing Relationships. Some of the people on your list may already be acting as advisors, just without the title. They’re the easiest to ask: Tell them how much you appreciate their advice, then say you’d be honored if they’d consider joining your advisory board.
• Strangers. Strangers are a little more difficult, for obvious reasons. Use LinkedIn to see if you have any mutual connections. If you do, ask that person to introduce you. If you don’t, try cold-emailing the potential advisor. A couple of notes:
  • Meeting in-person is ideal, but a video call will work especially during the COVID times.
  • Do not ask them to sign an NDA—you’ll come across as presumptuous and ignorant.
  • Don’t say you’re reaching out because you want them to be your advisor. You don’t know if you want them yet, and that’s like asking someone to be in a relationship with you before your first date.
  • At the meeting, you should give a well-prepared pitch and a product demo.
  • While they’re giving you feedback, measure how excited or interested they seem. Are they asking relevant questions and honing in on the right areas?
  • At this stage of the game, professional chemistry and passion is more important than wisdom.