What should I offer a startup advisor?
I've searching for advisors in NYC area.I have no idea what kind of deals are being offered to advisors. I need someone to help me to clear it up for me. I don't want to offer a deal that maybe disrespectful.
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**Related answer:** [Allocating Ownership Fairly](http://www.brightjourney.com/q/forming-new-software-startup-allocate-ownership-fairly) -- "Anyone who holds on to their day job gets a cash or IOUs, but not equity." – Blunders . 11 years ago
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@blunders: different issue - we're talking about advisors, not staff members. – Jim Galley 11 years ago
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@jimg: Independent contractors, which is legally what advisors are, should not have equity in the company in my opinion. – Blunders . 11 years ago
1 Answer
You may want to consider using the Founders Institutes Founder Advisor Standard Template (FAST) (Link to .doc file ) - as a starting point.
Also - techcrunch did a how much for advisors? article late 2011 - still relevant. I esp. like the way the article defines company maturity level, expected time commitment and ranges. Everyone will argue about whether the numbers are valid, but at least there is a reference to go from.
Also: I would say that the initial contact is important - there are lots of newco's looking for free advice, so indicating up front the company maturity level, what type of commitment the newco is looking for, and what remuneration options are available (equity, advisory fees) will help separate the "looking for free advice" from "looking for a partnership" requests.
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Awesome, thanks. – Zapoo 11 years ago
