Why Advisors Are Worth Your Equity (and How to Find a Good One)
In today’s landscape–where startups are sexy–founders can sometimes become hoarders. They might hoard capital because they don’t want to spend it unwisely or give it away foolishly (which makes sense). Or they may tend to hoard equity to keep control of their company.
This can be a big mistake. Handing out equity early to qualified advisors might be one of the smartest things you do. Strategic advisors can provide a wealth of value right from the start. They exist to provide the expertise that your startup needs but doesn’t have the money to acquire.
Think of these advisors as business sherpas: people more experienced than you who help you navigate and climb the startup mountain. …
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