Question
Im a co founder of a SAAS application and we found a good adviser, we just need to prioritize what we need help with and what they are comfortable advising on.
But what can we expect from the adviser? What is a typical agreement?
Is it as simple as - The adviser will offer X hours of time a month for Y? or is it more detailed than that?
Answer
It can be as simple or as complicated as you need it to be.
For my first startup we have a few board members, compensation was .5 to 1% equity for monthly meetings vested at 1 year.
They are advisors and as such you should ask them what they expect from you, you from them and provide a framework of the future together - let them know what to expect - don't waste their time and only bring them in for meetings when you are absolutely confused in your immediate path or long term goals and have them provide feedback & their network
