Startup Funding Espresso -- How to Find the Right Startup to Advise

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

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.
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