All start-up teams need help. The good news is that there is no shortage of “startup mentors.” The bad news is that there is no shortage of “startup mentors.” The way you recruit and work with your consultants is crucial because the right consultants, managed properly, can really have a big impact on your business. The good news is that there are many people who are willing to give you advice. The challenge is to hire the consultants. If you`d like to get in touch with dozens of potential mentors and consultants to start your startup, you should apply to a local Founder Institute program. You can apply to the following link: You need to update your advisors (and investors) with a biweekly or monthly email: Explain the good, bad, ugly since the last email communication. At the end of the email, type in the question, or what you want your Advirosrs to look for or what you need from them. While your advisors can only go through updates when they arrive, on your next call, consultants can check these emails before the call and make the call more efficient. You don`t need to spend the first 10 minutes of the call informing the advisor of what happened last month. I love receiving these emails, it shows me that the companies I advise are organized and understand good time management.
Previously, we published guidelines on how to issue the right number of shares/options to employees and advisors. As we have seen in this article, sharing fairness with employees and advisors is often used as a motivational tool and as a way to develop a company`s relationship with that person. Their advisors are well-intentioned and want to help, but they are busy people. You need to set expectations in advance, the type of advice you`ll need, and how often you`ll ask for it. If you don`t have this conversation with your advisor, you run the risk that very misaligned expectations will lead to a bad experience for both parties. As a general rule, for the companies I advise, we usually have a call once a month or every six weeks. But when something appears for which I am particularly qualified, the frequency is higher. 13.2. Single Agreement. This Agreement, including the Annexes, constitutes the sole agreement of the parties and supersedes all prior oral proceedings and writings relating to the subject matter hereof.
Many of the startups I work with want to create as impressive a list of consultants as possible. When I talk to consultant founders, I usually focus on two things: the standard founder/advisor model (“FAST”) was developed by the Founder Institute to help budding entrepreneurs in the startup programs we run globally and interact with the mentors they interact with throughout the program. In 2011, the Founder Institute made the FAST agreement public, and since then we have made incremental updates to version 1 of the agreement. .