In today's fast-paced and highly complex financial landscape, a key element of success for any company is an effective Board of Advisors. However, as a seasoned executive and board member, I can tell you that an internal board alone isn't always enough to navigate this challenging landscape effectively. Today, I want to talk about the importance of seeking outside help for your Board of Advisors, and the unparalleled value this can bring to your organization.
Every entrepreneur starts with a vision, but executing that vision often becomes a Herculean task, especially when it comes to finance. For Veteran entrepreneurs, this problem can be even more pronounced. According to this article I wrote for Forbes What Happens When Veterans Get The Funding And Support That They Need, Veteran entrepreneurs face unique challenges when trying to secure the necessary funding and support. This is where outside help becomes an invaluable asset. By leveraging the right expertise, your board can guide you through capital markets, helping you optimize your financial structure and scale your operations.
As the CEO of Wealth Stack and the founder of the Veteran Capital Access Platform (VetCAP), my mission has always been to provide that necessary expertise and support. Through my journey in the financial sector, I have realized that there is power in the combination of knowledge, experience, and networking. This is why VetCAP was created: to offer a comprehensive, user-friendly digital platform aimed at helping Veteran CEOs solve their financial challenges and grow their businesses.
In my role as a board member for NASDAQ:NCMI and NASDAQ:MDIA, I've been able to bring innovative solutions to complex financial matters, often with social issues at the heart. NASDAQ:NCMI, a $450 million annual revenue advertising business, paid me a sum of approximately $400k for four annual board meetings. Why? Because they found value in my unique insights, innovative solutions, and decades of experience in the financial markets. This experience directly informed the creation of VetCAP’s Advisory Tier, which offers companies the same level of expertise at a fraction of the cost.
One of the significant advantages of seeking outside help is gaining a fresh perspective on problem-solving. This perspective was invaluable in the recent $75 million asset sale for a publicly traded company I served on the board of. This transaction was no small feat and required expert navigation of capital markets, valuation, and negotiation strategies.
Furthermore, the necessity for veteran CEOs to secure funding without diluting their ownership stake is critical. With a detailed guide published on our blog, '10 Ways to Fund without VC, I discussed how companies could obtain funding without compromising their equity.
It is evident that the right external advisor can bring invaluable benefits to your company's board. From fresh perspectives to extensive networking opportunities, strategic insights, and improved financial structures, these benefits are tangible and can significantly impact your organization's growth trajectory. Moreover, with platforms like VetCAP, these benefits are more accessible than ever before.
An empowered Board of Advisors with access to expert external advice can lighten the load on your shoulders, giving you peace of mind and allowing you to focus on what you do best – leading and growing your business. Let's bring a fresh perspective to your Board of Advisors today and make every financial decision an informed and strategic one.