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Talk to Your Heroes: How I Built a Virtual Board That Enhances My Decision-Making

Paul G. Silva

Using ChatGPT, you can create a virtual board of advisors that brings the wisdom and perspectives of your chosen mentors to your fingertips. Why Create a Virtual Advisory Board? Before I walk you through how to set up your own virtual board, let me share how mine is helping my decision-making process.

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Why it’s Critical That you Reference Check Your VC

Both Sides of the Table

So my first advice is not to rush in the fund raising process. How do you then reference check your VC to be sure that you’ve chosen a good firm and partner? Get a reference list - Most entrepreneurs do almost no reference checks or at least do them very informally. Not so in venture capital.

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How Boards Need to Evolve Over Time

Both Sides of the Table

I’ve written a few posts about boards recently as part of a series on the subject. I admit that I haven’t yet read it but I’ve had numerous discussions with Brad over the years about board structure & conduct and consider him a mentor on the topic. Offering a sparring-partner function on strategic decisions.

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What I Would Look for When Choosing a VC – Knowing What I Know Now?

Both Sides of the Table

I had an enjoyable conversation this morning with a young team straight out of college this morning and they were calling to ask advice on how to approach fund raising (angels vs. VCs, how to select a VC, etc.) If I were looking at which VCs to choose I would reference strongly for which ones are supportive in good times and bad.

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Please Help Me Congratulate Jordan Hudson as @UpfrontVC’s Newest Investment Principal

Both Sides of the Table

Associates often shadow partners at board meetings so that they can help follow up with the company on important initiatives between board meetings. I think it’s great for some people because it really does give you some solid benefits: board exposure / experience. Startup Advice' Alumni activities. And so forth.

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Steven Blank Kills It at Greycroft CEO Summit

Both Sides of the Table

My favorite two quotes of the weekend were: “Never trade your cat for somebody else’s dog” (referring to selling your company for stock to another privately held company – quote was from Alan. He said that ineffectual leaders seek consensus or want direction or approval from the board. I’m going to save that for a future blog post.

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Why Lawsuits Are On the Rise at Startups and What To Do About It

Both Sides of the Table

He signed a release and remained on the board. He regretted the decision and sued the company and the board – it’s still not totally clear to me what he was suing about. I would like to just offer some very simple advice: 1. If you think you may have to terminate employees always have legal advice.

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