Founders shouldn’t feel that they have to go it alone. An abundance of support and high-quality advice can make all the difference in times like these, which means getting the most out of your existing network of advisors and investors has never been more important.
Advice is by no means a silver bullet. And as we’ve previously noted, we’re steadfast believers that the best advice often doesn’t always come top-down from the usual suspects, but rather bottom-up from the wisdom of fellow entrepreneurs.
But even with these caveats, what remains true is that no one person — founder, investor, advisor or otherwise — has all the answers right now. An ability to effectively seek and hear out different perspectives can make a meaningful difference as founders try to find their bearings and chart a new course for their startup. In other words, the mere act of collecting and evaluating advice, even if it’s ultimately discarded, can be the compass that guides founders through this storm.
What follows are the key lessons on how to make the most out of your advisors that we’ve published on the Review over the years.