As an investor in a startup, you may want to provide additional value and sign up as an advisor.
Here are some key points to consider:
– Choose startups that you can help.
– Make clear the work you plan to do such as introductions, networking, advising on the domain, or just sharing business experience.
– Define the duration of the advisor work – one to two years is a common timeframe.
– Determine the frequency and type of meetings – by phone, in person, or in a group meeting.
– Set aside time to do the work.
– Negotiate compensation based on the work to be done.
– Compensation consists of a half percent to one percent of equity vested over time.
– Be prepared to sign a non-disclosure and non-compete agreement.
– Have informal reviews with the company throughout the process to make sure you are meeting expectations.
– Add your name to the team as an advisor to help with fundraising activities.
– Join sales meetings where you can add value.
Advising can be rewarding but comes at a cost in time and effort.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.