Erin Faverty, Operating Partner at PeopleTech Partners: All Advisers Aren't Created Equal. Here's How to Tell the Good Ones from the Bad
Aug 2, 2023
auto_awesome
Erin Faverty, Operating Partner at PeopleTech Partners, explains the role of venture capital platform teams and how they benefit startup founders. She shares tips on distinguishing good advisers from bad ones and insights on becoming an executive. A masterclass in executive success!
Advisors should have critical knowledge, skills, and relationships to add value to founders and teams during critical phases of growth.
Professional networks and communities play a vital role in professional growth, providing expertise and guidance for quick problem-solving and decision-making.
Deep dives
Summary of Main Ideas and Key Points
In this podcast episode, Erin Faverty, the VP of Platform at Semper Viren's venture capital, discusses her role in driving innovation and supporting tech founders in the future of work. She explains that her team focuses on unlocking opportunities and providing go-to-market support for innovators and employers in workforce tech, healthcare, and financial technology. Erin emphasizes the value of a community of executives, peers, and smart collaborators who can share insights and expertise to help make informed decisions. She also highlights the importance of having critical knowledge and skills that can add value to a founder's growth trajectory, and the significance of continuous learning and building a broad skill set. Lastly, Erin emphasizes the need to prioritize ruthlessly and have ongoing communication with team members to ensure alignment and support their professional development.
The Role of Advisors and Effective Advisory Relationships
Erin discusses what makes someone an effective advisor. She emphasizes the importance of advisors having critical knowledge, skills, and relationships that add value to a founder or team at a critical stage in their growth. It is crucial for founders to identify what they need to be successful in their next phase and find advisors who can provide that information and partner with them. Erin also suggests having discussions early on to map out the projects or ways in which advisors can deliver value and to ensure alignment between the advisor's expertise and the founder's goals. She highlights the importance of finding the right match and continuous communication to foster a successful advisory relationship.
The Value of Professional Networks and Communities
Erin explains how professional networks and communities play a vital role in professional growth. She shares that effective leaders often have a village of knowledgeable peers and community members who can provide expertise and guidance. These networks enable leaders to tap into the collective wisdom of others, gain insights, and solve problems more quickly and effectively. Erin emphasizes the value of community in elevating performance and decision-making, and encourages professionals to seek out networks that align with their goals and interests. She also highlights the importance of communication and having regular check-ins to understand the shared value each individual brings to the community.
Career Advancement and Skill Development
Erin shares her insights on advancing in one's career and preparing for more senior roles. She suggests focusing on continuous learning, developing a broad skill set, and seeking out diverse experiences. Erin advocates for intentional skill-building and understanding the expectations and outcomes of higher-level roles. She emphasizes the importance of effective prioritization, ruthless prioritization, and being comfortable with re-prioritization. Erin also highlights the significance of regular one-on-one meetings to understand what keeps team members up at night, their goals, and their growth trajectories. By understanding their asks and providing opportunities aligned with their aspirations, leaders can contribute to their team's professional development.
Erin Faverty, Operating Partner at PeopleTech Partners
Erin explains what venture capital firms mean when they say they have a platform team on-hand. We look into why investors even bother staffing marketers, recruiters, and even data scientists and how they help startup founders and early employees. Next, Erin gives us her top tips on how to tell the good, helpful advisers from the bad and what it might take to become an executive. Don't miss this masterclass in executive success!