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How do I compensate advisers and board members?
How do I compensate advisers and board members?
People who will contribute a great deal of know how, expertise, and guidance, but will do so by phone or weekly/monthly conversation, not by day to day participation?
How do I do that at a very early stage when I am very limited in terms of cash? Are these typically equity relationships, and if so, how much?
- mindcrime 16y agoI'm still working on that issue myself, but here's some stuff to look at for reference: http://www.quora.com/What-is-the-best-way-as-a-newly-started-business-to-build-an-advisory-board-without-spending-a-lot-of-money http://www.quora.com/What-is-the-best-way-as-a-newly-started... http://www.quora.com/Do-members-of-an-advisory-board-usually-get-paid http://www.quora.com/Do-members-of-an-advisory-board-usually... http://www.quora.com/What-is-common-compensation-for-sitting-on-an-advisory-board-of-a-self-funded-start-up http://www.quora.com/What-is-common-compensation-for-sitting... http://www.quora.com/In-lieu-of-cash-what-is-a-good-amount-of-equity-to-offer-advisors-helping-to-develop-the-business-case-for-a-pre-funding-just-incorporated-start-up http://www.quora.com/In-lieu-of-cash-what-is-a-good-amount-o... http://www.quora.com/Stock-options-or-shares-Whats-the-preferred-way-of-compensating-advisors-for-a-startup http://www.quora.com/Stock-options-or-shares-Whats-the-prefe... http://www.quora.com/What-are-compensation-systems-for-startup-advisors-advisory-board-members http://www.quora.com/What-are-compensation-systems-for-start... http://www.quora.com/Startup-Advisors-Board-Members http://www.quora.com/Startup-Advisors-Board-Members http://www.quora.com/Advisory-Boards http://www.quora.com/Advisory-Boards http://www.quora.com/Board-of-Advisors http://www.quora.com/Board-of-Advisors http://www.quora.com/Startup-Compensation/How-should-our-early-stage-pre-product-health-industry-startup-compensate-for-an-advisory-board-member-who-brings-industry-contacts-and-credibility http://www.quora.com/Startup-Compensation/How-should-our-ear...
- jerrya 16y agoThank you, that looks like a great place to start.
- SabrinaDent 16y agoAre these typically equity relationships, and if so, how much? While you have good links on how it can work when they are, they don't need to be. Good people are generally nice and want to help. The tech community can be very tight like that, in a good way. A lot of people will give you their time for the asking, with nothing in return except the satisfaction of paying it forward and helping to nurture a promising startup.