what do you need to pay for the board of advisors in a startup? Do the advisors generally ask for equity share ? if so, what would be the average percentage we need to give?
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I guess there's not a "true" answer to this question, it mainly dependes what's the stage of your startup (pre-seed, seed-funded, VC-funded). In general, advisors get something between 0.1% - 1% of the company, vested monthly over 2 years. The important thing here is that advisors must bring something to the table. Make that clear before engaging them, writing down what you need: a few hours per month of their time (f.i. with technical advisors or "coaches"), or introduction with X potential customers per year, or introduction with 2-3 key investors. Advisors need to be accountable, and need to deliver, as any other person in the startup. Also, have a look at VentureHacks articles on this topic here and here |
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Options- the post prior to mine (below) is correct, and the 0.1-1% number is good. |
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