The point of advising is to have fun but it's also to align with the upside of the business. So the things to consider / ensure are. - Are they venture backeable ... if they don't plan (or you don't see them being able to) raise venture capital, then being a formal advisor (with equity) won't mat...
Ask, Ask, Ask, then Ask again. Bonus: Here is $10,000 worth of information for free and in a nutshell. Concentrate on the 3 M's. There are actually 7, but 3 will do for now. These are Market, Message, and Media. They come in that order. Who is your target market (customer, clients, buyers, us...
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!
It can be as simple or as complicated as you need it to be. For my first startup we have a few board members, compensation was .5 to 1% equity for monthly meetings vested at 1 year. They are advisors and as such you should ask them what they expect from you, you from them and provide a framewor...
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)...
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...
Standard here is 1% with a 12 month vest, assuming the kind of involvement you're describing. message me your email on Clarity and I'll send you the standard docs which also spell out involvement. I've answered this exact question before so I would suggest to all new Clarity members that you ...
Best to explain why you're asking + provide a URL explaining your purpose/business. Many times successful prefer to remain anonymous. You're asking for highly private information to be posted in a public forum.
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...