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

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!

3 Replies

Eric Wold
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Eric Wold Entrepreneur
CEO @ RingSeven • Web & Mobile Dev • Startups
Hi Ricardo,

I always use this fantastic template created by the community:

http://fi.co/contents/fast
Linda Marshall-Smith
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Linda Marshall-Smith Entrepreneur
Marketing Consultant, Ambassador, Silicon Beach at CoFoundersLab
I second Eric's suggestion. As a FI grad, I have used this template a number of times.
Rachel Zheng
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Rachel Zheng Entrepreneur • Advisor
Business Development Manager at Honyee Media
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!

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