As a follow up to our last post on advisors, we wanted to speak about the most valuable advisors we’ve found thus far. It wasn’t the entrepreneur with the ridiculously over-valued exit, the corporate rockstar, or the seasoned investor. These types of people all have great advice, and advice that will become increasingly important as ChickRx turns into a revenue-generating business. But let’s be honest… we needed advisors whom we could ask the dumb questions. And for any first-time entrepreneur, there will be plenty.
We were lucky to have a few friends around our age who had successfully started their own companies or invested in startups through their jobs. For all our basic questions, they had been there and done that pretty recently. They provided not only informed opinions, but also time. The people with the fanciest positions aren’t going to sit on the phone for over an hour teaching you Startups 101. So our advice is to think about who knows their stuff and already likes you enough to lend some real help. And if you don’t already know someone like that, time to start networking (the topic of our next post!)
PS Huge thanks to Trip Adler of Scribd, Scott Harper of Charity Fusion, and Alex Rubalcava of Rubalcava Capital Management.