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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