Advisors fill knowledge gaps, open doors, and provide pattern recognition that first-time founders lack. But not all advisors are created equal, and poorly structured relationships can waste precious equity on people who contribute nothing.
When You Need an Advisor
Get an advisor when you face a critical decision in a domain where you lack expertise: regulatory compliance, enterprise sales, fundraising strategy, or technical architecture. Do not get an advisor for general business advice -- that is what your investors and co-founder are for.
Finding the Right Advisors
The best advisors have: specific domain expertise relevant to your immediate challenges, a track record of building or advising companies at your stage, a genuine interest in your space (not just the equity), and the time and willingness to be accessible when you need them.
Structuring the Relationship
Standard advisor equity: 0.25-1% vesting over 2 years with no cliff for regular advisors, and 0.5-2% for advisors with exceptional networks or expertise who commit significant time. Define expectations in writing: number of hours per month, specific deliverables, and how you will communicate.
Making the Relationship Work
Send your advisors the same monthly update you send investors. Come to meetings with specific questions, not open-ended conversations. Track the value they provide: introductions made, decisions influenced, problems solved. If an advisor is not providing value after 6 months, have an honest conversation or let the relationship wind down.
Red Flags in Advisor Relationships
Advisors who want more than 1% equity for general advice. Advisors who are too busy to respond within 48 hours. Advisors who give contradictory advice without context. Advisors who push their own agenda rather than supporting your vision.
