Advisory boards · Advisors

What is the typical offer to an Advisor of a pre money startup and what you get in return?

Ricardo Narvaja Co-Founder & CEO at tuQuejaSuma

March 9th, 2015

Hi, I have been in contact with a fellow but more experienced Entrepreneur for a while now and I believe he can add a lot of value to our product as a formal Advisor. 

As we haven't had previous experience on this, I would like to ask you what should I offer him as "compensation" taking into account that we are a pre money startup and also what should I ask in return (e.g. Call every two weeks plus x) for our relationship to be accountable and successful.

Thanks in advance for your help!

L. Marshall-Smith

March 9th, 2015

I second Eric's suggestion. As a FI grad, I have used this template a number of times. 

Rachel Zheng Business Development Manager at Honyee Media

March 9th, 2015

Hi Ricardo:

Thanks for your note, here is a advisor template from the FD's network: http://members.founderdating.com/resources/templates And just fyi, there have been a lot of similar topics been discussed at FD discussion/advisor: http://members.founderdating.com/discuss/topic/Advisors
And questions like: http://members.founderdating.com/discuss/1106/Advice-on-managing-and-compensating-advisors Please do a quick search on the site before you post, thanks!

Eric Wold

March 9th, 2015

Hi Ricardo,

I always use this fantastic template created by the community: 

http://fi.co/contents/fast