Thank you for considering our invitation to become a virtual advisory board member for a new or existing entrepreneur. While everyone agrees that an advisory board is a valuable asset, in-person advisory boards often present challenges, including geographical constraints and scheduling difficulties.

The heart of our coaching program is the custom, virtual advisory board tailored for each client. This board comprises a couple of advisors recruited by the client and a couple of advisors we recruit. The virtual advisory board operates through a private online forum hosted on our website. Here, the client can make pitches, share observations, and ask questions.

As a member of the advisory board, you will receive email notifications whenever the client posts an item. We ask that you respond within 48 hours of a post, ensuring timely support and guidance. On average, we won’t ask for responses more than once a week.

Your expertise and insights would be invaluable to our clients, and we believe that this flexible, virtual format will allow you to provide meaningful contributions without the logistical challenges of in-person meetings.

We hope you will join us in this innovative approach to advisory boards and look forward to the possibility of working with you. To become an advisor, click the link at the bottom of this page.

Our Philosophy for Startups

At the core of our coaching philosophy is the principle of starting small and validating the market before scaling up. This approach applies to both products and services, ensuring that entrepreneurs gather critical feedback and make informed decisions before committing substantial resources.

Product Development

For product startups, we advocate beginning with a few prototypes:

• Prototypes: Develop initial versions and place them in the hands of potential customers.
• Customer Feedback: Gather detailed feedback on what customers like and dislike.
• Trial Manufacturing: Conduct a small trial run and seek out early adopters who are willing to purchase the product at a market-based price, even if this means selling at a loss initially. These early sales are more about acquiring valuable insights from customers than about making a profit.

Service Development

For service startups, a similar small-scale approach is recommended:

• Limited Offerings: Start with a narrow range of services to learn what customers desire in the final product.
• Iterative Improvement: Use customer feedback to refine and expand service offerings gradually.

Coaching Approach

Our role as coaches and advisors is not to pass judgment on the viability of an idea but to facilitate the entrepreneur's understanding and decision-making process. We do this by:

• Asking Probing Questions: Encourage entrepreneurs to think critically about their ideas and processes.
• Facilitating Self-Discovery: Help them discover potential issues and opportunities through guided questioning.
• Market Validation: Emphasize the importance of letting the market provide feedback rather than relying solely on opinions.

Examples of Coaching Questions

Instead of making direct statements, we ask questions that prompt deeper thinking:

• Product Feedback: "I would probably not purchase this as is because I would rather have it do this or that."
  • Not: "People won’t buy it because it won’t do this or that."
• Market Need: "Have you asked people if solving this problem is important enough to try a solution like this?"
  • Not: "I don’t think this new solution would be worth it to most people."
• Competitive Analysis: "Have you searched the Internet and current sources to see if there is this or something like this already on the market?"
  • Not: "There surely is something like this already on the market."

By using this approach, entrepreneurs are guided to make their own decisions based on thorough research and market feedback, rather than on subjective opinions.

Our philosophy is centered around the idea that the marketplace is the ultimate judge of a business idea's viability. By starting small, gathering feedback, and making data-driven decisions, entrepreneurs can navigate the early stages of their ventures more effectively. As coaches, our job is to facilitate this process through thoughtful questioning and supportive guidance.

For Existing Businesses Wanting to Grow

Our approach to advising small business owners emphasizes guidance over giving definitive answers. We believe that the most effective way for business owners to grow and develop their companies is through self-discovery and informed decision-making, facilitated by experienced advisors.

Advising Philosophy

Encouraging Self-Sufficiency: Business owners should be empowered to arrive at their own conclusions. This not only fosters independence but also ensures that solutions are tailored to the specific context of their business. Advisors should offer insights and perspectives, not prescriptive answers.

Sharing Experiences: One of the most valuable assets an advisor can bring is their own experience. By sharing relevant stories and examples of how they or others have tackled similar challenges, advisors can provide practical insights without dictating specific actions.

Practical Approach

Scenario-Based Guidance: When business owners present questions or scenarios, advisors should:

• Listen carefully and understand the context.
• Share similar experiences: "When I faced a similar situation, I handled it by doing X."
• Offer a range of suggestions or ideas rather than a single solution: "Here are a few approaches that might work in your situation."

Facilitative Questioning: Use questions to prompt deeper thinking:

• "What are the potential outcomes if you choose this path?"
• "Have you considered the implications of doing X versus Y?"
• "What resources do you need to execute this plan successfully?"

Benefits of This Approach

1. Tailored Solutions: Business owners develop solutions that are specifically suited to their unique challenges and opportunities.
2. Increased Confidence: Owners build confidence in their decision-making abilities.
3. Sustainable Growth: Self-sufficiency leads to more sustainable growth as owners learn to navigate future challenges independently.

Example Interaction

Owner's Question: "I’m struggling with declining customer retention. What should I do?"

Advisor's Response:

• Share Experience: "In my previous business, we faced a similar issue. We implemented a loyalty program that offered discounts to repeat customers, which helped improve retention."
• Suggest Options: "You might consider surveying your customers to understand why they’re not returning. Implementing a feedback loop can provide valuable insights. Additionally, enhancing your customer service or offering personalized follow-ups might make a difference."
• Facilitate Thinking: "What do you think would be the most effective strategy for your customer base? Have you analyzed any patterns in the retention data?"

By guiding business owners through thoughtful dialogue and shared experiences, advisors can help them build the skills and confidence needed to make effective, independent decisions that foster growth and success.

The first step in accepting an invitation to be on someone's virtual, personal advisory board is to become an advisor member (no charge) of this web site. Please click here to access the membership application page. Once you've created your membership, you will receive notice that you've been added to the member group associated with the client's virtual advisory board.