Here are some warning signs you may be talking to the wrong advisor:
Their primary business-building experience came two tech generations ago.
They have business experience but only in one area such as sales or marketing.
They can relate their experience but have difficulty understanding your situation.
They have a strong ego and center most of the discussion around themselves.
They seem to be busy with other projects and take some time to get back to you.
They treat the advisory work as a joyless task.
They don’t want to write down anything but rather just chat across the coffee table.
They can’t make the company meetings, so they have little knowledge of the rest of the team and company dynamics.
They don’t follow through on their action items and it takes several reminders to get something done.
They often confirm what you already know and don’t add much value.
Their experience and contribution overlap with other advisors.
If you have the wrong advisor, it’s best to bring it up and close out the relationship amicably.
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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.