Set Up Your AI Board of Advisors

Among the incubators in which I’m involved, and in conversations with founders, it’s evident that most need startup experienced advisors; the brightest of founders even asking for them in their ask at the end of a pitch (before asking for funding). Evident in 90% of startups is that they lack the CMO but don’t have a marketing advisor, that they are struggling with what and how to develop but depend on a local software developer for perspective, or they expect funding but aren’t talking to investors.

Let’s be honest, finding great advisors is difficult as there are only so many of us who have been through startups, work with startups, and aren’t selling a service.

While the world is fixated on the role AI can play in startups, in dawned on me that rather than just consulting AI, we can use it to consult different perspectives.

I used ChatGPT to set up a Board of Advisors, here’s how

I have an idea, seeking funding, and I can’t develop an MVP to get traction going with a viable solution. What should I do?

Here’s word-for-word what I got AI to advise:

• Focus on storytelling and market validation. Create a compelling narrative around your idea that clearly communicates its value proposition, the problem it solves, and the market demand. Use surveys, focus groups, or interviews to gather data that demonstrates interest in your concept. A strong market case can attract investors.
• Leverage no-code platforms. Use tools like Webflow, Airtable, Bubble, or Glide to create a functional prototype or landing page that demonstrates the core idea. This can help you validate the concept quickly and at a low cost.
• Build a waitlist. Drive traffic to a simple landing page that collects emails and explains your idea, signaling demand to investors. Use analytics to track engagement and interest.
• Use social proof. Create a presence on platforms like LinkedIn, Twitter, or niche forums to share your journey and build a community around your idea.
• Partner for execution. Identify a co-founder or technical expert who can help you develop the MVP. Pitch them on your vision and offer equity in exchange for their contributions.
• Bootstrap with early revenue. If possible, offer services or consulting related to your idea to generate initial revenue and demonstrate the need for your solution.
• Raise a small friends-and-family round. Pitch to people who trust you and believe in your vision, using funds to hire a freelance developer or agency to create the MVP.
• Look for non-dilutive funding. Consider grants, competitions, or accelerators to get the financial backing needed for an MVP without giving up equity.
• Engage a community. Start a discussion on Reddit, Quora, or niche communities to test your idea. This can attract attention, feedback, and even potential collaborators or investors.

Now, I’ve sat in hundreds of meetings with so-called advisors in startup hubs, and I can count as high as necessary, how many times founders have gotten such advice out of people. Never.

Better, as a Board of Advisors should, my AI team even worked together and summarized a focus, “By combining these approaches, you can build momentum around your idea, even without an MVP, and attract the resources or talent needed to make it a reality.”

Of course, you have heard such advice, I’m sure you’ve offered such advice, as have I; what struck me and what I am pushing you to do, right now, is set up the Board in such a way that it doesn’t just end there, it actually advises you.

I have before pushed founders to discount and even dismiss advice from investors not by ignoring it, but by having the confidence to push back and validate that advice by asking them how. With any advice you receive as a founder, validate if the person advising has any idea what they’re talking about by asking them to explain to you how to do what they’re advising (or at least, connecting you with someone who will do it for you). If the person advising can’t or won’t do that, you can bet they are merely parroting common advice, usually from good intentions, but always without actually knowing what you should do.

What we can do with AI is ensure this Board teaches you how.

Before I explain how I set up ChatGPT, let me clarify that compelling to us in a Board (be it a Board of Advisors or Board of Directors) is that it is not 2-3 individuals and it is not your friend, an investor who merely feels it important to have a seat, or best you can find. A Board is a set of experts with distinct experiences that fill the gaps in and complement your team, so that you avoid making mistakes by getting the best advice possible.

How to Instruct ChatGPT Projects to Create your Board of Advisors

Just weeks ago, OpenAI added Projects to ChatGPT, enabling us to bundle chats within a folder operated by a set of instructions. Those instructions guide AI in its replies to all of your chats therein.

Imagine, using this then for larger scale projects that need a vision, tone, or style: software development, cowriting a book, or conducting ongoing research.

Set up for Yourself a Project Called Board of Advisors

Within that project, we’re going to guide the AI with instructions about what we expect of our Board. I have 3 distinct sets of instructions I want you to use, so let me walk you through each step.

Our Board is a Team of People

Here is instruction #1

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Every response should have 6, only 6, and always 6, distinct answers from the following 6 perspectives:

1. That of a traditional Chief Marketing Officer
2. That of a digital marketing executive
3. That of an experience, startup oriented, Sales professional
4. That of an Angel and Venture Capital fundraising expert
5. That of a startup oriented Chief Technology and Chief Information officer
6. That of a social media influencer, PR professional, and storyteller

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Do notice the clarity in my list:

• Traditional marketing and online marketing are still fairly distinct skills and experiences, you want both on the team
• Even then, we know storytelling and media influence is increasingly paramount, so let’s add that 3rd marketing-like voice
• “It’s all about customers” (supposedly, I vehemently disagree with that but we do need the perspective on our board), so, Sales
• We want insight to fundraising, but I want to ensure it’s both for individuals (Angels) and funds (VCs)
• And we want technical advice but we want to make sure we’re considering data science and analytics as well as full stack
• Finally, notice I repeatedly clarify that our advisors need to have “startup experience” – I don’t want a corporate CTO perspective, and I really don’t want that of enterprise marketing.

Our Board Needs to Find Consensus

Here is instruction #2

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Following that list, provide a summary of the 6 perspectives that gives me a focus and why that focus is best.

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What we don’t benefit from are 6 disparate advisors giving us different directions, particularly since, as I’m sure you’ve experienced, often Sales, Marketing, and Engineers, disagree. What we need is the direction we should take when all advise is considered.

Our Board, a Good Board, Should Tell Us How

Here is instruction #3

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Finally, tell me what we should do and how.

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Rather simplistic, isn’t it? In my experience, we’re overwhelmed by the possibilities with AI and overlook how it’s simply a matter of how WE think and interact with it, rather than what *should* be done or how it needs to be scripted.

That’s why I’m telling you to just go do this, right now. It won’t be perfect, but I’ve asked a series of questions now, and it’s a far cry better than most advisors.

Let me show you so it’s clear… this is the complete instruction I put in our Project “Board of Advisors”

Every response should have 6, only 6, and always 6, distinct answers from the following 6 perspectives:

1. That of a traditional Chief Marketing Officer
2. That of a digital marketing executive
3. That of an experience, startup oriented, Sales professional
4. That of an Angel and Venture Capital fundraising expert
5. That of a startup oriented Chief Technology and Chief Information officer
6. That of a social media influencer, PR professional, and storyteller

Following that list, provide a summary of the 6 perspectives that gives me a focus and why that focus is best.

Finally, tell me what we should do and how.

Then we can start a single chat for each issue we’re considering. Here are some things I’ve asked:

• I’m struggling with getting my book published with an advance to get it published by a formal publisher rather than self-publishing or paying someone to help. What should I do?
• I’m uncertain of how to decide if I should build for Native mobile, Android, or iPhone first, and if I should outsource and how.
• We’re planning to roll out to students at our university to validate our idea and prove customer adoption, what concerns do you have with that approach?
• I have an idea, seeking funding, and I can’t develop an MVP to get traction going with a viable solution. What should I do?

Let me revisit that last question to share with you the entire reply, much more than what I included above. And before you drop off here (if you get it), let me encourage you skip ahead because there is one glaring oversight, or optimization, and I want to make sure you address that too.

I have an idea, seeking funding, and I can’t develop an MVP to get traction going with a viable solution. What should I do?

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1. From the Traditional Chief Marketing Officer

• Focus on storytelling and market validation. Create a compelling narrative around your idea that clearly communicates its value proposition, the problem it solves, and the market demand. Use surveys, focus groups, or interviews to gather data that demonstrates interest in your concept. A strong market case can attract investors.
• Develop a pitch deck. Ensure it highlights the customer pain points, your solution, potential market size, and differentiation from competitors. Showcase how your brand will stand out.
• Pre-sell the solution. Use marketing tactics like pre-launch campaigns to gauge demand and collect deposits from potential customers.

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2. From the Digital Marketing Executive

• Leverage no-code platforms. Use tools like Webflow, Airtable, Bubble, or Glide to create a functional prototype or landing page that demonstrates the core idea. This can help you validate the concept quickly and at a low cost.
• Build a waitlist. Drive traffic to a simple landing page that collects emails and explains your idea, signaling demand to investors. Use analytics to track engagement and interest.
• Use social proof. Create a presence on platforms like LinkedIn, Twitter, or niche forums to share your journey and build a community around your idea.

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3. From the Experienced, Startup-Oriented Sales Professional

• Sell the vision. Approach potential customers directly to validate their interest and even secure letters of intent (LOIs) or advance commitments. This can prove demand without needing an MVP.
• Partner for execution. Identify a co-founder or technical expert who can help you develop the MVP. Pitch them on your vision and offer equity in exchange for their contributions.
• Bootstrap with early revenue. If possible, offer services or consulting related to your idea to generate initial revenue and demonstrate the need for your solution.

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4. From the Angel and Venture Capital Fundraising Expert

• Raise a small friends-and-family round. Pitch to people who trust you and believe in your vision, using funds to hire a freelance developer or agency to create the MVP.
• Focus on storytelling and pitching. Investors may back you if you articulate the problem-solution fit and demonstrate your expertise and commitment.
• Look for non-dilutive funding. Consider grants, competitions, or accelerators to get the financial backing needed for an MVP without giving up equity.

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5. From the Startup-Oriented Chief Technology and Chief Information Officer

• Start with a simplified prototype. Focus on building the smallest version of your idea that demonstrates core functionality. It doesn’t have to be perfect; it just needs to convey the concept.
• Explore outsourcing. Engage freelance developers or agencies who specialize in MVPs for startups. Platforms like Upwork, Toptal, or Fiverr can help you find talent within your budget.
• Leverage open-source tools. Check for existing frameworks or software that can be repurposed to speed up development.

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6. From the Social Media Influencer, PR Professional, and Storyteller

• Create buzz. Use platforms like TikTok, Twitter, or Instagram to tell the story of your idea. Share your vision and build a following around the problem you’re solving.
• Crowdfunding campaigns. Platforms like Kickstarter or Indiegogo allow you to showcase your concept and get funding from supporters in exchange for early access or perks.
• Engage a community. Start a discussion on Reddit, Quora, or niche communities to test your idea. This can attract attention, feedback, and even potential collaborators or investors.

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By combining these approaches, you can build momentum around your idea, even without an MVP, and attract the resources or talent needed to make it a reality.

To move forward effectively, focus on a phased approach that aligns your goals with achievable actions to build credibility, attract talent or funding, and ultimately bring your idea to life. Here’s a step-by-step plan:

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Phase 1: Validate and Create Demand

1. Market Research and Validation
   • Conduct surveys, interviews, or polls with your target audience to confirm that the problem you’re solving is real and that your idea resonates.
   • Use tools like Google Forms or Typeform for structured feedback, ensuring your insights are clear and actionable.
2. Build a Simple Landing Page
   • Use a no-code platform like Webflow, Carrd, or Unbounce to create a one-page website that explains your idea.
   • Include a clear value proposition, an email signup form, and a “coming soon” or pre-order option to gauge interest.
   • Run targeted ads (Google Ads or social media ads) to drive traffic and measure demand.
3. Leverage Social Media
   • Start documenting your journey publicly on platforms like LinkedIn, Twitter, or TikTok. Share insights, challenges, and your vision to build an engaged community.

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Phase 2: Build a Prototype or MVP

4. Explore No-Code/Low-Code Options
   • Identify the simplest form of your idea that demonstrates its core value. Use no-code tools like Bubble, Adalo, or Glide to create a basic version.
   • Focus on delivering one key function that validates the solution (e.g., scheduling, matching, or booking).
5. Collaborate with Talent
   • If no-code doesn’t suit your needs, seek a co-founder or developer. Attend startup events, hackathons, or use platforms like AngelList or CoFoundersLab to find talent.
   • Pitch them on your vision and offer equity or future revenue-sharing for their technical contributions.
6. Outsource Development
   • If you have a small budget, hire a freelance developer or agency through platforms like Upwork or Toptal. Provide them with a clear specification document to ensure alignment.

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Phase 3: Secure Funding

7. Leverage Traction Metrics
   • Present data from your pre-orders, email signups, or community engagement to demonstrate demand to investors or stakeholders.
   • Secure letters of intent (LOIs) from interested customers or partners as proof of market readiness.
8. Pursue Funding Sources
   • Start with non-dilutive funding: apply for startup grants, pitch at competitions, or join accelerators like Y Combinator or Techstars.
   • If you need external capital, develop a compelling pitch deck and approach angel investors or VC firms. Focus on how your idea aligns with their portfolio interests.

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Phase 4: Create Momentum

9. Pre-Sell Your Product
   • Launch a crowdfunding campaign on Kickstarter or Indiegogo, offering early access or exclusive benefits for backers.
   • Use your MVP and community as proof points to attract backers.
10. Iterate Based on Feedback
    • Once the MVP is live, gather feedback from early users to refine the product. Show that you can adapt to market needs, which builds investor confidence.

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Execution: Tactics for Success

• Set Clear Milestones: Define actionable steps like “Collect 1,000 email signups” or “Secure 5 LOIs” within 30-60 days.
• Leverage Partnerships: Approach organizations or influencers in your niche to amplify visibility.
• Iterate Rapidly: Use feedback loops to improve your MVP or pitch materials as new insights emerge.

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Not bad, eh?

Last Tip: Clarify Sector, Industry, and Stage

What I left out for the sake of simplicity and direction is that you must (you want to) ensure your AI Board of Advisors has experience in your sector. Hopefully evident, a CMO from a video game startup isn’t ideal to your beverage supply chain platform. I’m great when it comes to advising early-stage startups, fundraising, and cities/governments developing ecosystems, but I can’t be much help to your pharmaceutical startup (beyond the conventional wisdom); and that’s my point in criticizing most advisors, you don’t want conventional wisdom. Conventional wisdom is readily available if you know where to look and so you want and need a team who has experience most applicable to what you are doing.

Most disregard Industry: don’t do this, too many of you want to disregard industry out of some pipedream that what you’re doing could be applicable to everyone. As a startup, you must focus, though broadly.

• Sector: B2B, consumer, brick and mortar, AI, or decentralized…
• Industry: energy, video games, banking, advertising, government, or education…
• Stage: pre-seed, idea, growth, series C…

Add to your instructions, at the end of Step 1, this clarification, for example, “Perspectives should have experience and draw from what’s ideal to decentralized AI technology for education at a seed stage.”

You will grow and change, and in doing so become applicable to other stages, sectors, and industries, but for now, focus.

Not sure how to focus? Start with our generic AI Board of Advisors and ask it. The beauty of having this resource freely available to you is that we can return to our Instructions and update them, change them, or improve them, at any time. Don’t like the advice you’re getting? After keeping in mind that it might be right and you’re wrong, go optimize the instructions.

Leaving me with this, readers, by no means should you even consider my advice here right. My direction might be improved, and my instructions could be missing something. Let us know! Comment below, I’ll try everything suggested and your experience will help others.