From Building to Built: A Step-by-Step Guide to Assembling Your First Advisory Board

For Entrepreneurs and Aspiring Advisors Alike

Whether you're a brand new founder ready to bring in expert support, or an experienced entrepreneur who has taken the time to reflect on the gaps in your company’s expertise, network, or strategy—this is your moment to take action. You’ve realized that you can’t grow alone, and now you’re ready to identify and engage the right people who can help you scale. Building an advisory board is one of the most strategic moves a founder can make. These experienced allies offer critical guidance, unlock opportunities through their networks, and challenge your thinking in ways that help you grow faster and smarter. But building an effective advisory board doesn’t happen by accident—it takes clarity, intention, and a well-structured plan.

This guide walks entrepreneurs through each step it takes to go from knowing you need help to building the advisory board team that can help you scale. From identifying your company’s gaps to officially welcoming new board members, you’ll find practical steps to take action and build momentum.

A Note to Prospective Advisors:If you’ve been approached by a founder or are considering joining an advisory board, this guide outlines a standard operating procedure for identifying, cultivating, and formally inviting board members. Founders who follow this process are demonstrating strategic leadership, respect for your time, and a clear understanding of the value you bring. This approach ensures that your role will be well-defined, your contributions appreciated, and your time well spent in helping a growing business succeed.

Step 1: Prepare Your “Advisory Board Overview” Document

This document is your single source of truth. It shows potential advisors you are serious, thoughtful, and organized about your ask. It gives clarity about your company’s mission and direction, and it respects the advisor’s time by answering questions up front. It also demonstrates professionalism, which builds trust from the first interaction.

How entrepreneurs should approach it:

Take your time with this document—it’s more than an introduction; it’s a commitment. It requires deep reflection on what you’re building and why you need outside expertise to do it better. Be honest, concise, and specific. If you’re unsure about some sections, talk to a mentor or coach for feedback. This document may evolve over time, but your first version should be strong enough to communicate your seriousness.

Why it matters to prospective advisors:

Advisors are busy professionals. If they’re going to invest their time and insights, they want to know what you stand for, what your vision is, what success looks like, and how they can help you get there. This overview sets the tone for what it will be like to work with you—and whether or not they can picture themselves being part of your journey.

Sample Overview

Before reaching out to anyone, you need a clear, concise document that outlines what your business is about and what you’re asking of your advisory board. Title this something like [Your Company Name] Advisory Board Overview and include the following:

• Mission/Purpose: What is the reason your company exists?

• The Problem: What problem are you solving?

• Your Solution: How are you uniquely addressing the problem?

• Target Market: Who are your customers? Where are they?

• Role of the Advisory Board: Why are you forming a board now, and what do you want to achieve with their help?

• Board Member Responsibilities: This may include:

  • Attending and preparing for scheduled meetings (monthly or quarterly)

  • Joining virtually via Zoom (camera on, tech checked)

  • Offering strategic feedback

  • Making introductions to investors, partners, or customers

  • Providing accountability and encouragement

• Term of Service: For example, a one-year renewable term.

• Meeting Schedule: Include dates for regular meetings and key events where their attendance is requested.

• What Board Members Can Expect from You:

  • Consistent communication and preparation

  • Respect for their time

  • Public recognition when appropriate

• Contact Information and Social Media Handles: Make it easy for them to find and share you.

• A Meaningful Thank You: Whether it's a handwritten note, spotlight on social, or a small gift, plan how you’ll show appreciation.

Step 2: Create Your Identification Strategy

Finding the right advisors is more important than finding impressive ones. The people you invite should align with your business needs, values, and culture. This step is about developing a proactive, intentional approach to finding those individuals—and not just waiting for someone to appear. It’s also an opportunity to test and grow your networking and storytelling skills.

How entrepreneurs should approach it:

Start with your warm network. You’ll be surprised how willing people are to help if they understand what you need. Then expand strategically—use LinkedIn searches and attend targeted events. Be sure to define what types of expertise, experience, or connections are essential to your startup's next phase of growth. Organize your outreach in a spreadsheet and assign weekly goals. This will keep you focused, consistent, and confident.

Why it matters to prospective advisors:

The more thoughtful your approach to finding them, the more valued they’ll feel. Advisors don’t want to be approached because they’re “famous” or a placeholder. They want to be chosen because they are the right fit for what you need. Your clarity and process show them that you’re looking for a real relationship, not just a title.

Entrepreneur takeaway:

Through this process, you’ll sharpen your own ability to articulate your company’s needs, deepen your understanding of your industry landscape, and develop more confidence in asking for support.

Outreach Strategy

With your advisory board overview complete, it’s time to find the right people. Begin with this ordered approach:

1 - Start with Your Network

Make a list of people you know who have relevant experience—or know people who do.

2 - Ask for Warm Intros

Reach out to trusted mentors, friends, or colleagues and ask if they’d be willing to connect you.

3 - Search Strategically 

Use LinkedIn to look for professionals with expertise in your industry, technology, operations, finance, or sales—whatever gaps you’ve identified.

4 - Join Industry Groups on Social 

Visit LinkedIn and Facebook groups, attend industry-specific networking events, and post your interest in connecting with potential advisors.

5 - Organize Your Outreach

Track conversations and responses in a spreadsheet and assign yourself weekly goals for outreach.

6 - Set a Timeline

Give yourself 4–6 weeks to complete outreach and hold initial conversations.

Step 3: Send the First Email

Your outreach sets the tone. A thoughtful, well-written message can open the door to a meaningful relationship. Poorly written, vague, or overly casual emails will likely be ignored—no matter how great your business is. This step helps you practice pitching yourself and your company with clarity and enthusiasm.

How entrepreneurs should approach it:

Customize every email. Read the person’s background. Use their name. Reference where you met or how you found them. Keep it short, direct, and respectful. Attach your overview, and be gracious regardless of their response. Don’t mass-send your request—this is about quality over quantity.

Why it matters to prospective advisors:

A concise, personalized email shows that the founder respects the advisor’s time and reputation. It also gives them a clear snapshot of what they’re being asked to consider, helping them make an informed and timely decision.

Entrepreneur takeaway:

Writing and sending these emails teaches you how to communicate with professionalism, humility, and clarity. You'll also develop stronger communication habits for future partnerships, investors, and customers.

Email Samples

Craft two types of emails—one for someone who can introduce you to someone in their network, and another for someone you don’t know yet but want to connect with directly.

---> Sample Email #1: Request for Introduction

Subject: Quick Favor – Advisory Board Introduction

Hi [Name],

I hope you're doing well! I'm building an advisory board for my company, [Company Name], and I'm looking to connect with professionals who have experience in [industry or role]. I remember you mentioned your colleague [Their Contact’s Name] had deep experience in this space. Would you be open to making an introduction?

I’ve attached a brief overview of the company and the advisory role. Either way, I appreciate your time and support!

Thanks so much,

[Your Name]

---> Sample Email #2: Direct Outreach

Subject: Exploring a Strategic Opportunity

Hi [Name],

I came across your work on [platform or event] and was impressed by your experience in [industry/role]. I’m the founder of [Company Name], and I’m in the process of building an advisory board to help scale our impact. I’d love the opportunity to introduce myself and share a bit about the company, as well as learn more about your work.

Would you be open to a 20–30 minute Zoom call in the coming weeks to become acquainted and learn more?

I’ve attached a brief overview and would be honored to speak with you.

Warm regards,

[Your Name]

Step 4: What to Talk About in the Meeting

The initial conversation is about more than recruiting—it’s about relationship-building. You’re evaluating them, and they’re evaluating you. A clear, two-way conversation builds trust, provides room for mutual discovery, and sets a solid foundation for collaboration.

How entrepreneurs should approach it:

Prepare for this meeting as you would for a pitch. Practice what you want to say, be prepared to answer questions, and don’t dominate the conversation. Listen. Ask about their story. Be genuine in your curiosity about their experiences. Share your company’s goals, where you’re stuck, and how they could help. Keep the conversation open-ended, and always leave room for a follow-up.

Why it matters to prospective advisors:

Potential advisors want to know that the founder values their time, perspective, and potential impact. They want to feel like they are entering into a collaborative, respectful relationship—not a transactional one. When you lead a well-structured, respectful meeting, you demonstrate leadership and build confidence in your ability to follow through.

Entrepreneur takeaway:

You’ll become more skilled in active listening, identifying synergies, and confidently talking about your business. Even if someone doesn’t join the board, these conversations will improve your storytelling, pitch skills, and industry insights.

Meeting Agenda

Once you’ve got a meeting booked, use this simple agenda:

1 - Start with Gratitude: Thank them for their time.

2 - Share About Yourself and Your Company:

• Your background and what inspired you to launch your company.

• The problem your company solves and how.

• Why now is the right time for an advisory board.

  
  

3 - Ask About Them:

• Their professional background

• Experience serving on boards (if any)

• Their interest in advising startups

4 - Walk Through the Board Overview:

• Highlight key responsibilities, time commitment, and expectations.

5 - Ask for Next Steps:

• “Would you be open to reviewing the board overview?”

• “If this isn’t the right time, is there someone you’d recommend I speak with?”

Note: Be conversational and flexible. Even if they don’t join the board, they may become a great advocate.

Step 5: Onboard New Board Members

Once someone says “yes,” how you bring them in matters. Onboarding sets expectations, makes new board members feel welcome, and establishes a structure for engagement. A smooth onboarding experience reflects well on your leadership—and sets the tone for how the board will operate moving forward.

How entrepreneurs should approach it:

Plan ahead. Prepare your welcome email, Zoom introduction, and meeting invites. Make sure you provide tools or information that help them get started right away. If there’s a confidentiality agreement or file-sharing system, introduce that early. Help them meet the other members so they feel like part of a team.

Why it matters to prospective advisors:

Advisors want to know what to expect and how they fit into the group. An organized onboarding process demonstrates that you’re serious, that you respect their time, and that you’ll lead with intention. This reassures them that they’ll be able to contribute meaningfully without unnecessary confusion.

Entrepreneur takeaway:

This is a critical leadership moment. You'll learn how to guide people through new systems, create alignment among collaborators, and build a high-functioning team of trusted advisors.

Checklist

Once someone says “yes,” it’s time to make it official. Your onboarding process should be simple, professional, and welcoming.

____ Send a Welcome Email 

• A personalized note of gratitude

• The final Board Overview document

• Meeting schedule calendar invite links

____ Make Introductions

Create a short email or Zoom meet-and-greet to introduce them to other board members.

____ Confidentiality Agreement (if needed)

Send this early so there’s no confusion about sensitive information.

____ Add Them to Communications

Include them in relevant Slack channels, email lists, and CRM platforms if applicable.

____ Provide a Small Welcome Gift: 

This can be a branded item, local treat, or book relevant to your work.

Mindset

Building an advisory board isn’t about filling seats—it’s about forming relationships that elevate your business. With clear materials, a thoughtful outreach strategy, and a welcoming onboarding process, you’ll be well on your way from building to built.

For prospective advisors reading this: founders aren’t looking for perfection—they’re looking for people who are generous with their insights, curious about innovation, and eager to be part of a company’s growth story. Your voice could be the difference between a great idea and a scalable success.

Ready to build together? Let’s start now.

*This process article was designed for Project Boardup, a training program created for entrepreneurs and executives to create high-impact advisory boards that accelerate growth for startups and small businesses. If you are interested in learning more, please CLICK HERE. To speak with someone about the possibility of applying for the next cohort, please email Info@TheStartupLadies.org.