Saint Leo University Strategic Thinking for Entrepreneurs Building Brain Trust Essay

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Saint Leo University

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Building a Brain Trust

In a three to four page paper (excluding cover and reference pages), discuss the following:
  • How you would build a “brain trust” of the right mentors and advisors?
  • In selecting outside advisors, what are the most important criteria, and why?
  • How would you structure governance in your entrepreneurial venture?
  • Would you have a Board of Directors, a Board of Advisors, or both? Why?

The Building a Brain Trust paper

  • Must be three to four double-spaced pages in length (not including title and references pages), in 12 point font, and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.).
  • Must include a separate title page with the following:
    • Title of paper
    • Student’s name
    • Course name and number
    • Instructor’s name
    • Date submitted
  • Must use two scholarly sources in addition to the course text.
    • The Scholarly, Peer Reviewed, and Other Credible Sourcestable offers additional guidance on appropriate source types.
    • Must document all sources in APA style as outlined in the Ashford Writing Center.
    • Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.

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Explanation & Answer

Attached. Please let me know if you have any questions or need revisions.

BUSINESS

1

Brain Trust
Student Name
Course name and number
Instructor’s name
Date submitted

BUSINESS

2
Introduction

Brain trust was first used by president Roosevelt to have a group of advisors to help him
in rebuilding the economy and to have different opinions on matters concerning the state.
Traditionally, leaders, state leaders have needed a group of advisors to help them view a situation
from different perspective. The purpose of a brain trust is to have people you can rely on, who
can help you in solving problems and gaining insights on matters that would have otherwise
taken years to establish or recognize. A brain trust is very useful when one wants to explore a
business venture. Although one can learn a lot from doing research before starting a business,
having a group of people who have experience in running businesses or building their own
entrepreneurial ventures, helps one to gain some valuable information about things they might
have overlooked. In addition, having a brain trust helps in having people to share with business
ideas and having people who share the same ideologies. Additionally, it helps to know if the
business ventures viable before going for a trial and error method.
The first step to having a brain trust is ensuring that one has a business idea they wish to
explore. The next stage involves selecting mentors. Mentors are people who will help or guide in
the business venture that one wishes to explore. Mentors can be family members or people from
the industry that one wishes to engage in. additionally, when choosing mentors, one should focus
on diversity. Having a group of diverse individuals helps in bringing different ideas to the table
and provides unique perspective on an idea. Additionally, mentors can also be family members.
However, it is important to avoid people with negativity and people who don’t share the same
passion in a business. This means that mentors can range from family members, to friends or
people in the industry one wants to venture in. additionally, it is important to find people who are
successful so that one can be motivated and find insights.

BUSINESS

3
Mentors & Advisors

In choosing mentors, my brain trust will include people who know me. Having people
who know me in my group of mentors, will help in finding fair and critical judgement on my
business venture. In addition to providing a fair judgement, people who know me have some
adequate knowledge of my strengths and weaknesses. This will help them guide me in a
direction that need be. Additionally, they also know some of my skills and abil...


Anonymous
Really useful study material!

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