Whilst entrepreneurs know that mentors/advisors are vital to the growth of their companies, much confusion persists regarding what an advisory board is, which roles advisors can be expected to play, and how start-ups should secure mentors in the first place. “Once in a blue moon, everything might work out well but more often than not, your relationship will fizzle or be inconsistent at best if you don’t have an advisor agreement in place.” An advisor agreement is a legal document that briefly outlines the advisor’s commitment to your company and stipulates the amount of equity that he/she will receive in exchange for his/her services. The Founder Institute’s “FAST” template is a popular agreement form that is worth considering. Instead, not only must you «do your homework» by cultivating an understanding of why exactly you want these people on your board and how exactly you think they can help your company but you also must be able to present data about your start-up operations. Commit yourself to this mentality before taking any meetings with potential mentors/advisors.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath