A guy who's help our SaaS startup a lot in the 1st 2 month of its life has suggested that we form and he join our Board of Advisors. He's very helpful to us, a great guy and will definitely be an asset. He has some good contacts and lives in the same city as us. No money/shares has been mentioned, perhaps it will be over the coming weeks.
What I'm wondering is - How can an Advisor be rewarded if you can't imagine your company every being acquired or taking VC (there are various reasons why I can't imagine it). We hope to grow our startup into a real, profit earning business, but if we succeed how can we reward our advisor(s) who would definitely have played a major role?
I know we can reward him with dinners and lunches, thanks etc. but I'd really hope that he'd be financially rewarded in some way in the unlikely event that we start making large profits (not VC).