(ps - we're a bootstrapped business, $2m turnover, doing OK) Main concern - the advisory term lasts for 2 years - is that right to stipulate now? (he knows I'd love to sell in 3/4, so is this just a play for higher stakes later or normal?) other terms... - no cliff (but we've had 4 good meetings - could settle for 3 months as working with another investor too) 2 yr vest (happy with this) 2 hours per month engagement (feel very tight, but he agrees this has some flexibility) He has a lot of weight in the industry and some good advice so far - although most so far has just been around working together and business process, though v helpful. Think it's hard to tie down much more to agreement, but concerned that want someone 'in for the journey' not limiting timeframe / commitment so much - even at this stage. Any thoughts would be hugely appreciated - thanks!
I have served as an advisor to well over 100 companies and have hired dozens of directors and advisors as a principal. Nothing of what you are saying is out of the ordinary. The most important thing is for you to understand what you want, exactly, from the advisor, and to communicate it to the advisor clearly. Im available if you still need any ideas or feedback. Good luck
Answered 9 years ago
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