Growing with Startups

Author

Lauren Wambold Patel
May 07, 2024

Welcome back to The 2x2 - the ultimate newsletter for independent consultants! We're here to ignite your imagination, empower your expertise, and make this Twosday an unforgettable day of discovery.

Get ready for a triple dose of awesomeness in this week’s email:

  1. It’s a Win/Win: Becoming an Equity Stake Advisor

    Have you thought about guiding small companies to grow while expanding your consulting business? We have…

  2. Can Procrastination Drive Success?

    Procrastination can be a useful tactic for success. Don’t believe it? Check out below for some interesting insights about why waiting can be your best strategy.

  3. The Fate of Lost Luggage

    Are you a shopping hacker who enjoys a little mystery? You don’t want to miss NPR’s visit to Scottsboro to uncover the fate of lost luggage.

1. It’s a Win/ Win: Becoming an Equity Stake Advisor

Picture this: You just met an awesome startup CEO. You think their business is going to be big.

One way you could help them is to join their startup’s advisory board to steer the success. 

And it’s also good for you.

A strategic advisor builds your credibility. It also lets you have a real impact on founders and their businesses. 

This is your role as a board member:

  1. Strategize for Growth: Guide long-term planning. Use your experience to provide structure and find opportunities for growth.

  2. Expand the Network: Connections are crucial for funding and development. Introduce them to potential partners, customers, and investors in your network. 

  3. Mentor the Core Team: Be a sounding board for the leadership team. Guide them through challenges and turn them into effective leaders.

  4. Improve Overall Efficiency: Advise on best practices to optimize operations. 

  5. Guide Risk Management: Share risk management insights. Identify potential legal and regulatory pitfalls so they can manage risks more effectively.

Looking to join a board? Use this Advisory Equity Stake Agreement Template to formalize your agreement.

2. Can Procrastination Drive Success?

We’re giving you the answer right up front. 

Yes. Yes, it can. 

Delaying decisions and tasks is worth the wait. After all, you think of better solutions when you have all the right information.

Enjoy this curious insight from Rolling Out about the benefit of procrastination.

3. The Fate of Lost Luggage

It’s happened to us all. For me, it was arriving at 11pm in Bloomington for an 8am with my client and no attire.

Lost luggage is a fact of travel.

But what happens to all those bags that are never reacquainted with their owners? 

Turns out, there’s a guy in rural Alabama who sells this stuff. Take a look. Maybe you’ll find something you lost.

Remember, the path to success is paved with continuous learning and embracing fresh perspectives.

Let's stay connected, share ideas, and elevate your consulting business.

Stay curious, friends.

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