Over the past couple months, I've been getting lots of invites to virtual advisory boards (for topics, not companies) hosted by ConvetIt. Has anyone joined one, or avoided doing so for some reason?
I've been receiving a ton of stuff from Convetit as well and signed up for the platform. I went through their process for becoming a facilitator. Two different account managers have reached out to me about paid projects, and the calls quickly turned into sales pitches without a real project being available (to me at least). They were looking for me to sell their advisory board service to my clients. Given that they have pulled the exact same pretense twice with two different people, several months apart, I am not interested in working with them.
I was an early participant with Convetit and have had both facilitator and expert board member roles, some still active. The key for me was and is to find topics that I have deep experience with and care about. The time commitment for an expert role is small and the interaction with other experts with different backgrounds is often valuable. Although there is financial compensation for sponsored boards, it isn't enough to motivate alone, at least for me.
The facilitator role is larger and requires more of a time commitment that also has a larger financial compensation. If you are chosen to facilitate a board that is sourced by Convetit, they have a standard compensation rate (still not enough to justify the hours alone in my opinion). Scott S. mentions the other alternative, that a consultant can set up an advisory board for their own clients. Downside is you do the selling and relationship management, upside is you choose your own pricing/compensation and use Convetit as a platform for collaborating with subject mater experts.
Bottom line is this is not for everyone, but I have found it mostly fun and valuable for me and for those participating.
I actually was invited onto a closed Convetit board and found it both a good exchange and experience, though the pay was really very nominal.