What is Startup Advisor?

A startup advisor is a subject-matter expert who provides industry or subject matter guidance and mentoring. They are typically well connected to investors and other industry professionals, to whom they provide warm introductions.

Advisors are usually compensated for their efforts either monetarily or through equity grants—ranging from 0.05% up to 1%. The ideal time to bring on an advisor is when you’re hiring key staff, pursuing strategic partnerships or ramping your sales.

Avoid bringing on an advisor who has:

• No interest in your business or your mission
• Minimal free time because they are overcommitted to other startups
• A conflict of interest (i.e. advises a similar company in your industry)