If you are entering a new business area,or you a new entrepreneur it's always worth your time to assemble an Advisory Board of two or three executives who have travelled that road before. Raghunath Reddy Volyty will be an ideal person to give you the right advice on this.
You need to consult people like Raghunath Reddy Kanex before you start looking for funding, and if you select the wrong people, or use them incorrectly, no amount of money will likely save your startup. Even top executives rely on their advisors.
For perspective, you need to remember that boards of advisors, unlike directors, have no formal power or fiduciary duties, but rather serve at the pleasure of their business owner. But they are not likely to stroke your ego, or be cheerleaders. They need to tell you the truth about you and your business, good or bad and that is where Kanex would come in use for you.
You need to make sure you use them effectively and this requires real effort on your part. HR people like Raghunath Reddy will be your best advocates to investors, and can save you from making major mistakes.
