The four circles of founder support. When and how should you reach out?

Startup founders have different types of groups that they can consult with and each has advantages or disadvantages. These groups make up a critical support network for entrepreneurs but you need to know when it’s the best time to leverage each one.

Ori Schnitzer, Executive Director, Zell Entrepreneurship Program, discusses the importance of seeking support and advice as a founder and who specifically to ask. He highlights the benefits of confiding in a supportive spouse or best friend who can offer objective perspectives and emotional support. Additionally, he mentions the value of belonging to professional networks such as EO or YPO, where individuals can share experiences and receive both emotional and professional support from peers.

Schnitzer also emphasizes the need for founders to engage with advisors who can provide specific solutions to problems and stresses the importance of clear communication in seeking assistance from advisors, board members, and investors. This means founders should be transparent and prepared when communicating challenges to their board of directors and management to maintain a positive perception.