An article we liked from Thought Leader Halle Tecco of Cofertility:

On Being a Startup Advisor

Usually I invest in startups, but occasionally — due to timing or valuation of a round — I become an advisor instead.

Since 2014, I have joined the cap table of six companies as a startup advisor. Two were acquired and four are still active. Of the two acquired, one did not pay out a penny (it was an acqui-hire) and the other netted me ~$100,000 (the only startup not in healthcare).

I would say I have had six very different experiences. Some founders want a quarterly call, some want access to my rolodex, and others just want to put KOL names on their pitch deck or website. Let’s dive into all the questions you may have about being a startup advisor.

What does a startup advisor do?

What a startup advisor does depends on the startup’s needs... and how well the founder puts their advisors to work. Here are some examples of how I’ve seen startups utilize advisors:

• Quarterly calls to get feedback on strategic direction

• Providing ad hoc expert advice (legal, medical, design, market, etc.)

• Introductions to potential investors, employees, or customers

• Providing product feedback, and helping refine product-market fit

• Acting as a brand ambassador

• Creating expert content for social media

• Using likeness on marketing materials, like pitch decks and website

Depending on the founder’s receptiveness and the time at hand, an advisor's involvement can…

Read the rest of this article at STARTUPEVENTS.ORG…

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