An often discussed topic within our entrepreneur community is the difference between a Board Member and an Advisor in terms of the purposes they serve.
Today, I had an opportunity to meet with Kris Gopalakrishnan, and he offered some great advice on this topic.
“Board members safeguard the company and not the entrepreneur.”
Founders often get a chance to select board members and should really know the distinction when making selections. The role of a board member is to make sure that the company will succeed, and the role of an advisor is to make sure an entrepreneur succeeds. An advisor can be partial to the entrepreneur but a board member cannot be. Once you pick the board member, you have to understand that he is only going to represent the company and not you as an individual.
Thank you, Kris.