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!

Eric Wold

March 9th, 2015

Hi Ricardo,

I always use this fantastic template created by the community: 

http://fi.co/contents/fast

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!