How to Build a Startup Advisory Board
The following is a summary of my complete article. Related to this, I invite you to join me for a webinar on March 23, 2021, where we will unpack the subject of “Building your Startup Advisory Board in a Virtual World” along with a group of industry experts and thought leaders. I hope you will join us!
As a founder, you’ve likely sought outside guidance on building your business — and at some point thought about formalizing that advisory relationship.
But how do you find the right people? How do you align their incentives with your own? Structuring your advisory board often leads to a host of questions about sourcing, compensation, titles, and more.
In this article, I discuss in greater detail how to go about creating an advisory board and cover essential topics like:
- How to find advisors for your startup
- What a startup advisory agreement should contain
- How to approach startup advisory board compensation
I also take a deeper dive to offer additional insights on the issue of equity compensation and address what to do and what to avoid when creating equity compensation agreements.
