First make sure you are vetting your advisor as much as he/she is vetting you. I would have a personal conversation with other teams that the advisor has worked with in the past. Get to a level of granularity on what worked and what did not. You don't disclose terms here which I appreciate b...
I have been approached to advise companies with this arrangement. In the arrangement I was considering, the options simply turned to ownership but there was an end date by which the distribution had to be paid. Hope that helps!
Mark is correct that the best advisors should have skin in the game but that advice is applicable only when you and your business are obviously investable. I've engaged advisors at times when I knew I wasn't ready to ask for their money and I've often begun advisory relationships in the earliest...
Great advisors are driven by 3 primary variables: the industry/sector of your product, your existing network, and where you are physically located. Industry - Your industry may or may not be network driven, in the sense that industry members regularly come together organically (venture capital)...
There are two parts to your question: finding and convincing. Finding influencers within your industry verticals should not be difficult as there are numerous influencer search engines as one method. To start, try: https://intellifluence.com/ https://thecirqle.com/ https://influencity.com/en/se...
Having been in the position as an advisor, this is what I think an advisor expects: a. Equity Ownership. This depends upon how much involved an advisor into the start-up. b. A flat fee and a percentage pie on every transaction the stat-up makes(Not the profit margin) c. At my early stage, all I ...
Experience is the key. Never hire a guru who doesn't have at least some grey hair. Don't take this statement literally, but look for experience when choosing a coach. Not experience as a coach, but experience as a person, a business person, marketer, or related to any topic for which you are seek...
The best advisors are those with real world experience-not just academic credentials-someone who has been there, done that. Also important, industry or company type experience (e.g., service company, software, manufacturing...). Look for someone who compliments your strengths and offsets your wea...
Most advisors get between .25% to 1%. 1% assumed they are VERY important and will be active in either recruiting or raising capital (2 of the most important areas). Advisors don't do it for the equity - at least they shouldn't - what they want more than anything is recognition from you publicly...