Advisory boards · Board member

Should one pay "experts" or offer them equity in the company to keep them on board and engaged?

Once a startup assembles a team of experts - let's say in the medical profession - what is the best way to keep them on board and engaged? Offer them a bit of the seed or first-round funding? Offer equity in the company? Or just hope they stay focused? My logic tells me they will feel more obliged to review content, give advice, and offer their contacts if they are compensated somehow. Any advice welcome. 

Jessica Alter Entrepreneur & Advisor

June 4th, 2015

Advisors? never never, pay advisors as a startup - you're cash poor and equity rich. People you pay are called consultants, not advisors. Equity aligns incentives long term - not on hrly work.
Agreement templates and equity table here

Thank you! The table is extremely helpful.