Very often, professional services suffer from the “feast and famine” phenomenon. Developing the company’s sales team helps to prevent this and grow the business, however several potential pitfalls also need to be considered.
Recently, we have announced three investments, in Futures Platform, Artist Exchange, and most recently, in PilviTM.
All of them are SaaS companies that we think have a promising future ahead of them, not only because of the skillful and experienced leaders in the companies but also because each company wants to actively bring in and utilize external advisory as help when reaching for their growth targets.
Which brings us to the tremendous value that a high quality Board and individual advisors can provide for a growing and internationalizing company. Take recruiting key personnel, for example. If one aims to grow, say, in the US market, one will likely need a local leader for the business over there. How to find the perfect person if not through reliable contacts and advisors? There’s little room for mistakes in the early recruitments of an ambitious startup.
Companies will only receive top notch advisory by actively asking for it
Well connected Board members and advisors may also be able to open doors with brand customers and bring in insights from both successful and, importantly, failed previous attempts to achieve something similar to what the company is trying to do.
The list of potential target areas where advisory comes in handy doesn’t end there, yet one thing is for sure: Companies will only receive top notch advisory by actively asking for it. This starts with asking someone to join in as an advisor or Board member in the first place. And don’t be shy: Aim high, and who knows if the name of your top notch advisor will win your company its next financing round - or a large client.