After selling my company, I had a certain non-competition period that ended this summer. I have used that time to recreate, to have fun, doing some “home”work, but also planning the future. Something I always wanted to do was to share what I have learned as founder and entrepreneur. I believe it’s very beneficial for young(er) leaders to hear what worked and more importantly what failed and consider that for the own decision making. Right now I’m an advisor for 3 companies and it’s a very rewarding mission for me.
The greatest reward is that discussions and brainstorming is without any politics or hidden agendas. The advisor is there to:
- Point to new technology trends that could be added to products
- Provide feedback on roadmaps, development processes, and customer requirements
- Utilize the own network of people to support the company in their growth plans
- Give insights on markets and new opportunities
- Sharpen the go-to-market messages and plans
- Help to improve pricing schemes
- … and whatever comes up to support the company.
The discussions I have experienced so far are a great team experience and I’m grateful having made this step. A closing thought on the target group – who should have a board of advisors? I’d say: the egoless and empathic leaders only. Well, usually there’s no leader without a certain ego. Otherwise they wouldn’t probably be leaders. I believe, however, that leaders are only good leaders if they are empathic to their team, their customers, and their peers. <sarcasm>All others know everything better and don’t need any help.</sarcasm>
2 Gedanken zu „My (new) Life as an Advisor“
I’m glad that you like your new role. I can tell that we enjoy the open discussions and appreciate that you share your experience.
Thanks and looking forward to the next advisory board.