Start-Up Advisory Services have become ubiquitous, even if there remain a select universe of those that stand out among the crowd. Do a google search and you’ll find 20 million returns for that three word phrase and discover many of those link to firms that position Start-Up Advisory as their primary value proposition. The two word phrase Start-up Advisory returns 66 million pages; a boondoggle for so-called SEO experts who claim to deliver top-ranked page returns on Google and other search engines. The simple take-away from that data infers:
(i) there are lots of start-up companies, meaning there is a large market for which to sell a product/service
(ii) by virtue of the number of start-up businesses (let’s guess the number exceeds thousands per year), there is an inherent need for experienced advisors who “have been there and done that” to counsel Start-Up entrepreneurs. It is commonly-accepted knowledge that 90% of start-ups fail. According to a Harvard Business Review study, upwards of 75% of venture capital-backed startups fail for 7 primary reasons.
-Lack of Focus, Lack of motivation, commitment and passion
-Too much pride, resulting in an unwillingness to see or listen
-Taking advice from the wrong people
-Lacking good mentorship
-Lack of general and domain-specific business knowledge: finance, operations, and marketing
-Raising too much money too soon
-Not raising enough early enough
That’s just the top 7 reasons why start-ups tend to die on the vine. Add to those items:
-Inability to articulate the value proposition to investors.
-Failing to establish a reasonable enterprise value so that investors can wrap their arms around your opportunity.
-Overlooking the need to carefully analyze the competition in terms of product/service offerings, competitive positioning and customer acquisition strategies.
-Underestimating the resources required and costs associated with go-to-market strategies.
-Failing to prioritize goals and unable to delegate tasks. Executive Management Team is not versed in how to to connect the tag line to the bottom line.
-Start-Up Entrepreneur neglected to assemble a team of Advisors. We’re not alone in advocating this step (read this)
(iii) The easily-defensible logic is that Start-Up entrepreneurs, whether those in concept stage, pre-seed stage, nascent stage, pre-adolescent or puberty stage would all be well-served to enlist a consigliere who can provide the CEO and his team with seasoned, objective and thoughtful guidance; someone who can see the forest through the trees, because that someone has been to more rodeos than you have socks.
(iv) There are literally tens of thousands of people who promote their start-up advisory skills. If only one percent of those people were really as equipped and capable as they claim, the start-up failure rate would arguably be much lower than it is.
Start-Up Advisory Services | CEO Consigliere Services are a mainstay of The JLC Group. Our resident entrepreneurs are seasoned professionals with extensive and proven start-up experience across multiple industries.We’ve been there and done that–making us uniquely qualified to guide start-up enterprises across a broad spectrum of stages and industry silos.
The JLC Group positions its start-up advisory capabilities within the framework of a bespoke consultancy. We serve in the the role as “CEO consigliere” and act as a trusted source of experience-based wisdom, tapping into a deep knowledge base within the context of brand positioning. We frame your value proposition to constituents, customers and capital providers and help you set guidelines for business process management.
Our expertise addresses nearly every pain point that most entrepreneurs inevitably confront. Our Principal and Senior Entrepreneur-In-Residence was a partner of NYSE floor trading firm acquired by a global bank. He has since founded or c0-founded companies later acquired within the fintech sector, insurance claims administration industry and consumer product silos. Along the way, he was recruited by a Private Equity firm to serve as a turn-around CEO for a public company operating within the location-based entertainment industry. He has advised countless enterprises in a cross-section of industries, many of which have since been acquired and produced healthy financial returns for original stakeholders.
Currently, our EIR (Entrepreneur-In-Residence) is a captive business strategy advisor to the CEO of several enterprises, including a medtech start-up whose enterprise value of $100mil was ‘pegged’ by a Fortune 200 medical device company. He is also counsel to the CEO of a globally-positioned martech firm that delivered $25mil in 2017 top line revenue. He is an Advisory Board Member to a leading fintech merchant bank. He is also a capital formation advisor to a California-based cannabis industry concern and a corporate strategy advisor to a blockchain firm whose patent portfolio in the area of location proximity detection is viewed as the runway to establishing a new industry protocol.
In nearly every project we have taken on–which can range from minimum of 1 month to as many as 6 months (and several have been multi-year), The JLC Group has been revered for its ability to inform and transform. The fastest way to get to the next level is to reach out to us.
Start-Up Advisory Services – CEO Consigliere Services