Everything Darryl Hicks said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Hicks: Engage startup advisors on demand rather than on recurring cadences
“And every single one of my advisors, this is key, said, I can do this, but I cannot commit to like monthly meetings or quarterly meetings or anything like that. Like call me anytime, email me anytime, ad hoc, you're stuck. Great. I know a lot of people, and Da…”
Hicks: Building advisory board pre-revenue was smartest Flexpay decision
“Smartest thing I ever did in Flex Bay was building an advisory board before I even had a dollar of revenue.”
Hicks: Advisory boards should provide strategy and connections, not operational execution
“And then how you interact with these people is really around three things. It's conversations, strategy, and connections. So conversations, not action. Strategy, not execution. And connections is really the biggest part, right? What do you need to do and who d…”
Hicks: Flexpay added an advisor purely for network and brand credibility
“One of the people that I added onto my board was kind of purely for that reason. Really the only value I knew this person was going to bring was their connections. How many people they know and how many people know them. And just to be able to go around and sa…”
Hicks: Recruiting active operators as advisors simplifies vetting for depth
“If I put that filter of saying, I'm only going to work with people that are actually working and building their own business and really moving the needle in a significant way and what they are doing day to day in their own job. I kind of don't need to worry as…”
Hicks: Never ask prospective advisors to join on the first call
“The first conversation, when you reach out to these people, you're never asking them to be on the advisory board. That's almost a surefire way to have a blow up in your face.”
Hicks used Dan Martell's own framework to recruit Martell as an advisor
“Actually, one of my advisors and mentors and friends, Dan Martell, walked me through a framework of how to build a world-class advisory board, which I then used that framework to get him on my advisory board, which is a fun little hack.”
Hicks: Flexpay reserved its eighth advisory board slot for M&A
“And in full transparency, I only filled seven of the boxes at the beginning, because I was like, I need to keep one free. For the stuff that I don't know yet. Like, I don't know what I don't know as I'm going to discover things as I scale this business. Right.…”
Hicks: Flexpay advisor secured a 14-executive meeting at Visa Canada HQ
“Like I called up one of my advisors, next thing you know, I'm sitting in Toronto at Visa Canada headquarters with 14 executives talking about What it is that Flexbay is doing and how we can better integrate into Visa's ecosystem.”
Hicks: Most Flexpay advisors received around 0.2% equity
“Most of my people ended up coming in around 0.2%. And then of course that gets diluted down when you bring in future investment rounds and stuff like that.”
Hicks: Flexpay built its initial product for internal company use
“We built the initial version of Flexpay for ourselves, so we had a lot of, like, boxes already checked off as far as, you know product market fit and, you know basic, you know, functional tech stack that really gave everything we need to do, reporting and stuf…”