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Table of contents
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Summary
- Diversity of panelist background and experience is crucial for successful panel creation. Panelist archetypes (founders, investors, operators, service professionals) provide a framework for identifying the diversity of their strengths.
- A single experienced and strong panelist can significantly elevate the quality of a panel from good to great.
- Tapping into regional and global panelists can fill expertise gaps, add industry-specific knowledge, and bring LSP/ISP experience to a local panel.
- Panelist requests should follow appropriate channels, clearly specifying the expertise needed.
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ð€Â Using panelist archetypes to inform panelist selection
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â Panelist archetypes serve as a strategic framework to categorize, identify, and utilize the unique strengths of each panelist. â
This framework emphasizes the importance of diversity of skills and backgrounds on a selection panel. It also helps us place panelists in roles where they can have the most impact.
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ð§Â Deciding which panelists to invite to your LSP
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â While thereâs no one-size-fits-all formula for creating a successful panel, pattern recognition shows that diversity among panelists is a key driver of success. This diversity spans across industry expertise, regional knowledge, career backgrounds, and more. â
In an ideal world, we would handpick every panelist to curate the perfect panel. However, we must navigate challenges like busy schedules, conflicts of interest, and, at times, board requirements. While achieving a "perfect" panel may be rare, history has shown that having just one anchor panelist can transform a panel from good to great.* Please see the section on Panelist Rankings for more detail on what defines an anchor.*
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â The best panels are made up of a diverse mix of founders, investors, operators, and service professionals - indexing most heavily towards founders and investors. â
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Expanding your panelist pool
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â Sharing panelists as a resource across offices, both from Local Office to Local Office and from Global to Local, is highly encouraged. â
Many offices face challenges in expanding their LSP panelist rosters, often due to limited access to mentors with relevant experience, board requirements, and other constraints. Below, weâve outlined common situations where engaging a panelist from outside your office could prove advantageous.
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Local Office to Local Office
Endeavor is increasingly embracing a "One Endeavor" approach and moving towards greater regionalization. Strengthening connections between offices within the Selection process is a highly effective way to share value across the network.
- ð Industry Experts â If your LSP lacks specific industry expertise, like space tech, bring in mentors or panelists from another office. While most of the panel should stay local, outside industry insight is crucial for a well-rounded decision.
- ð Regional Perspective â Adding a panelist from another office can bring valuable regional insight. For example, if a candidate in the Philippines is expanding to Indonesia, an Indonesian panelist deepens the discussion and expands your panelist pool.
- ð¥ Board Diversification â Board-heavy LSPs can be challenging. To diversify, consider reserving a spot for a non-board member, like an Outlier Endeavor Entrepreneur (EE), to bring valuable entrepreneurial perspective.