Board of Directors
If a new venture organizes as a corporation it is required to have a board of directors. If handled properly, a company's board of directors can be an important part of its new venture team. The two ways a board helps a company get off to a new start is to provide guidance and lend legitimacy. In regard to lending legitimacy, well-known and respected board members bring instant credibility to a new company. BEGIN will help you in your decision on how to make up your Board.
Board of Advisors
An advisory board is a panel of experts who are asked by a firm's managers to provide counsel and advice. Unlike a board of directors, an advisory board possesses no legal responsibility for the company and gives non-binding advice. Advisory boards provide guidance and lend legitimacy to a company. Some advisory boards meet several times ayear at the company's headquarters, while others never meet formally, but instead interact on an individual basis with the company's management. BEGIN can provide the necessary guidance in helping you decide who, if anyone, should be part of your Advisory Board.