How an Advisory Board Can Benefit Your Company

Kyle Murphy is a Technology CEO and investor. In this video he described the benefits an advisory board can provide to your company.

  1. Expertise
  2. Industry knowledge
  3. Branding/legitimacy

Transcription:

An advisory board can be a role benefit of your company in many ways people don't realize. You know the normal one of those things. So, let's get a big name that helps build our brand and build legitimacy. Yes, that is one important factor. But there's two other one that I find them much more valuable for in a day to day as a manager.

One is expertise. Expertise is often can afford but I need whether it's technical expertise, industry expertise or just navigating something legal path, that's real valuable.

The other side of it is industry knowledge. Unless you have spent ten years in the industry, there’s going to be people out in every industry that know better than you. And will continue to be a lot better than you. So, leverage [one]. So, if you, well—or not well advise your board, they can be almost like in access to wholesale’s pipeline for you.