During my 1st startup, I was blessed with the generosity of talented, accomplished people who were willing to play the role of advisors. I've given a lot of thought to what worked and what didn't.
Earlier this year, Ross Mayfield wrote a great post on Advisorship that better captures my thinking than I can articulate:
"I liken the role of a BoA [Board of Advisors] as a group with strong ties to the company, playing a role in it's social network as the first degree. Initially, names alone provide credibility or thought leadership, but to really gain advantage, a structure such as above needs to ensure information flow and set expectations."Seems like Web 2.0 can apply toward Boards of Advisors as well. Anyway, I think the Board concept is a bit of a misnomer (makes me visualize the Apprentice boardroom or something). In my next start-up, I aim to build a "situated social network" built around the mission of the company.