An angel investor called me out

She encouraged me to establish a board, and initially, I was quite resistant before raising institutional capital. It seemed like an additional hassle and a waste of time, especially when we were focused on sorting out the commercial mechanics of the business. However, she took the time to explain the advantages of having a sounding board and support system beyond just our team. Her dedication to this, along with the valuable insights she provided, ultimately assisted us in making the crucial decision to establish our board and arrange regular meetings. This ensured that the business continued to progress successfully with the appropriate level of input from external advisors.

Here's why choosing the right people is crucial:

1️⃣ Investor Networks

Beyond just injecting capital, investors bring with them a wealth of connections and expertise. When selecting investors, consider whether their network aligns with your business goals. 

Can you envision reaching out to them during tough times for guidance and support? If the answer is yes, they're likely to add more value to your business.

2️⃣ Advisory Boards

Advisory boards offer a valuable platform for bouncing ideas off experienced professionals. 

Running a business can sometimes feel isolating, but having a monthly meeting with insightful advisors can provide much-needed perspective and camaraderie.

3️⃣ Monthly Updates

Consistency is key when it comes to keeping investors and board members informed. Should be as much of a priority as your social channels. 

Regular, succinct updates ensure that stakeholders are always in the loop about the latest developments in your business. 

Investors and boards serve as pillars of accountability in the founder journey. 

Choose your team wisely.

Any other tips for choosing your investors? 👇🏼