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How to Get Advisory Board Positions as a Doctor

Many physicians see products that are being launched in the healthcare space and have thoughts about how to improve those products, go to market strategies, and spread the word about those products. They may use a tool regularly and feel they would be a great advocate for the company or brand. As such, we often receive questions on our online physician communities how to get advisory board positions. We’ve previously covered this briefly in our article about being a physician startup advisor, but wanted to take a deeper dive into more concrete things doctors can do to maximize their chances of success in applying for or being asked to be a startup advisor. Below, we’ll cover tips for building your presence in the space, networking intentionally, and signaling your interest specifically as it pertains to landing advisory board positions with companies in the healthcare space.


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Steps physicians can take to find advisory board positions as a side gig opportunity


What are the benefits to being on the advisory board of a company as a doctor?


There are many different reasons why doctors may want to be on advisory boards, and they’re not mutually exclusive. For the purposes of this article, we’ll assume you have already decided you want to be on an advisory board, but briefly, here are some compelling reasons why physicians seek these positions. 


  • You love what a company is doing and want to be a part of their journey.

  • You want to be able to influence innovation in the healthcare space and make sure it helps clinicians and patients, practically integrates into existing systems, etc.

  • You feel you have a unique perspective on how they could improve a product or do things differently to make it better, or feel that they would benefit from having stronger input from the clinical side (so many healthcare startups have no practical experience or background on the ground floor of healthcare).

  • You love the team that’s building a product and believe in them, and want to work alongside them.

  • You believe a company is going to do very well, and you want the opportunity to help them achieve their goals as well as have some of the financial upside from doing so (many ways of getting this via equity, advisory shares, or consulting fees).

  • You are a lifelong learner and would enjoy learning about and being part of the healthcare innovation space.

  • You’ll be able to expand your network, build your resume, and/or eventually transition into a non-clinical role.  

  • You feel it will help you build your brand and set you up for future job opportunities, speaking or consulting gigs, or other advisory roles.


Note that they are not mutually exclusive (i.e. you can want the opportunity to enjoy the upside of the growth of a company and also want to see it succeed as you believe it’s a great product).



How do I find and get advisory board positions with healthcare companies or startups as a physician?


While it can happen, advisory board positions are typically not positions that just land in your lap or that you can apply for. Usually, subconsciously or consciously, landing these roles requires intentional strategy, networking, branding, and showcasing of your expertise - or is a result of you doing those things. Let’s dig into what that means:



Establishing a brand that you want to be known for


Many times, companies aren’t going to be able to find you (or if they do, consider you a valuable asset to their advisory board) unless you offer them a competitive advantage of some sort. Simply being a physician who knows something about the space in which they’re building is usually not enough unless a company is very early stage (in which case, you should know that most startups fail, and decide how much it’s worth the opportunity cost of getting involved and how likely you think they are to succeed). Like it or not, this will likely involve bringing out the extrovert in you, even if you’re a natural introvert. We’ll allude to how to do this in the following points.



Carving out an area of thought leadership, or a unique niche and value proposition


While healthcare companies may want you for your specialty and clinical knowledge, they’re also going to want experience as it relates to what they’re building. This may include being a key opinion leader in your field, having done relevant research, a unique experience or perspective that you are distinctly knowledgeable about, or a personal or professional network that you have developed that would be a strategic asset/advantage for them.


Some examples of things that support your brand as a leader in your field which you should leverage in your branding include:


  • Having a pedigree at well known institutions (undergraduate, med school, residency, fellowship, or as an attending)

  • Having published relevant research or thought leadership

  • Holding prominent positions within your specialty society, a related nonprofit, or patient advocacy group

  • Participation in certification programs or having an additional relevant degree

  • A large number of followers on various social media platforms or a popular blog or newsletter



Gaining visibility


These days, there are many ways to do this, and they don’t all require being a TikTok star (though that could help!). Different methods include:


  • Being active on LinkedIn, where so many founders, investors, and corporate higher ups spend their time (learn more about building a presence on LinkedIn) - share your opinions and expertise on popular threads and create engaging content to build your follower base

  • Publish articles relevant to your desired area of niche expertise, either on a personal newsletter, blog, or popular resource often referenced by others in your niche

  • Create a social media presence on any of the various popular social media platforms

  • Apply to speak at conferences such as HLTH or other industry conferences or events

  • Become a media personality or medical journalist

  • Getting invited to events where others in the field tend to go


How physicians can gain visibility for potential advisory board positions


Intentional and strategic networking


There is a saying that your net work is your net worth. Whether that net worth is measured in dollar signs or simply your ability to have a seat at the table in important rooms, who you know very much matters in this space. This is because:


  • Many advisory board positions arise from word of mouth, so you have to “be in the room where it happens” to hear about them. 

  • A network is a valuable asset that companies look for when deciding that somebody will provide them a strategic advantage, because when you join their company, you give them a foot in the door to your network. 


Networking strategically and intentionally involves:


  • Going out of your way to meet others in this space via meetings, conferences, healthcare innovation meetups, pitch events, hackathons, and other places where people in your intended niche hang out. Our Physicians @ HLTH program is a great place to jumpstart this, with so much exposure to companies and individuals in the space!

  • Reaching out to people that you admire in the space and establishing a relationship. You’ll find that many in this space are also looking to network, so just be intentional about why you’re reaching out and what your value proposition to them may be. Don’t be discouraged if you don’t get a response - many in this space are busy, and if you are proactive, you’ll get enough responses eventually.

  • Join entrepreneurship networks (like ours at Physician Side Gigs!)

  • If you’re at an academic institution or an employer that has an innovation arm, get involved with committees, attend relevant events, and try and find ways to add value to initiatives

  • Sign up for expert networks such as our side gig matching services on Physician Side Gigs 



Apply for published advisory board positions


We say this somewhat hesitantly, because based on our own experience and that of our members’ stories on our online physician communities, it’s been rare that somebody has posted that this is how they got their advisory position. Most advisory positions with companies you want to advise for likely aren’t advertised on Indeed. However, there are entire companies that have been built on trying to connect people to board positions. Just be careful about paying for this access, because the chances that you’ll make a connection (and the chances that they’re with a company where the shares end up being valuable) are statistically improbable enough that paying to be on them is not likely to give you significant ROI. 


Also, be very, very wary of companies that solicit you to make an investment in order to be on their advisory board. There are several players in this space that have been doing this for years. Ask yourself whether a company that ask yourself if any company that was performing well and had shares of value would so willingly give them away for a little bit of time on the phone. While they may reach out to you to talk about an advisory position, they may just be trying to get your money. 



Let people know that you’re seeking advisory board positions


If people don’t know this is an area of interest to you, they may not have you top of mind when they hear about a role that could be great for you! Some ways to signal interest include:


  • Just telling people you’re interested in getting involved in advisory board work! Reach out to trusted members in your network and let them know what positions you’d be a good fit for.

  • Updating your LinkedIn profile in the headline or summary section to let people know you are an advisor or that you’re seeking these roles

  • Putting it on your personal brand website as an offering or role that you do

  • Posting about it on social media

  • Working with a recruiter (again, be wary of anybody that charges upfront fees, as this is a hard space to reliably get matched to anything)

  • Signing up for our free consulting database and weekly newsletter for when companies let us know that they’re interested in finding advisors


Additionally, you may want to create a resume or CV that specifically emphasizes your value as a startup advisor. It should highlight not just your clinical experience, but things like your social media presence if applicable, prominent positions you hold (leadership or otherwise), research or published papers, organizations you’re a part of, relevant speaking or writing, etc. Definitely also create a website that showcases your personal brand that people searching for people with your expertise can land upon.


Learn more about:


Related PSG resources & perks:

  • Artillery designs and builds attractive websites optimized for SEO that are pretty reasonably priced (usually 2-5k depending on complexity). Mention PSG when you reach out through their website for $200 off.

  • GMR Web Team provides our members with a comprehensive suite of digital marketing solutions for physicians, including SEO, content creation, website design/management, and more. GMR can help you build a strong online presence, cultivate patient loyalty, and achieve sustainable growth for your practice. PSG members receive 20% off blog writing services, website design, and website hosting when they sign up through our affiliate link.

  • Squarespace is a really easy way to create websites with stylish templates yourself. Mention code PARTNER10 for 10% off through our affiliate link.



Offer to help out for free


In general, we are fans of physicians knowing their worth and not doing work for free. We hold true to this, but recognize that sometimes you just need a foot in the door. While you shouldn’t let yourself get taken advantage of, offering a time and scope limited project where you can showcase your value and leave them wanting more may be a good approach, particularly if you really want a specific position. 


When you reach out, have a very specific pitch in mind - and have it be concise. Most startup founders don’t have a ton of time and won’t spend forever researching you, so you should have an elevator pitch ready that efficiently displays the value you could add. 


This can be a great route to a longer term relationship if done effectively (but again, lay boundaries and ask for compensation when appropriate).




Conclusion


Being on the advisory board of a company, whether established or in startup mode, can be a really fun, exciting, and rewarding endeavor. A lot of physicians love the idea of adding this on to their professional plate, but aren’t sure where to start. We hope this guide gives you some tangible steps you can take towards securing an advisory board position!



Additional resources for doctors interested in advisory roles & the startup world


Explore related PSG resources:


Sign up for our PSG weekly newsletter for alerts on potential side gigs opportunities, including advisory roles. We may also run our consulting side gig matching database (physician only) for related opportunities.


Sign up for our free entrepreneurship and health tech educational events for alerts on related free webinars. Event notices also go out in our PSG weekly newsletter.


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