
Advisors Stop Screwing Startups - dwynings
http://learntoduck.net/advisors-stop-screwing-startups
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casca
TL;DR - Some people are bad advisors. Avoid them somehow.

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gavanwoolery
Advisors are bullshit. The only _real_ reason you would attach one's name to
your company is the same reason Porsche puts the logo on its cars. Porsche
does not have the best performing cars, but because of their name they can
sell their models for more.

If you actually need another person's advice...that is free. Believe it or
not, there are people way smarter than your average VC who will answer your
questions for free. But really, god help you if you can't figure out the
majority of your problems on your own.

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tbundy
We've had a few people introduced to be "advisors". Very hard to get the right
balance of value for both parties. We bailed both times and decided to just
back ourselves.

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dm8
Sorry, I didn't get it completely. Does the author imply that you should not
have advisors? Or have advisors that add real value rather than some sort of
name dropping?

~~~
tdr

         - focus is more important than anything
         - every relationship is a business relationship before all else
         - not all advisers are great (you want their expertise before the money)
    

In summary: stay focused, do your due diligence!

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draggnar
"as soon as you accept money, its no longer a favor, its a job"

If an advisor is getting a small amount of equity they are not being paid and
it is not a job. Giving 1% of nothing to someone who can open the right doors,
offer a unique perspective, and possibly contribute significantly later is a
great thing. The longer term intentions of the advisor and potential roles
need to be flushed out first.

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ironchef
Surprise. Like any one receiving equity (employees, VCs, etc.) you need to
perform due dilligence to make sure you're getting value out of the
relationship.

You wouldn't just accept the first VC offer you received would you? You also
very carefully pick which VCs you approach (as the network they have is very
important as well).

Why wouldn't you do the same thing with advisors?

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michaelochurch
The purpose of advisory roles (in large and small companies) is age. No one
wants to answer to someone significantly younger than him, so how does a
30-year-old CEO leverage the experience and skill of people in their 50s and
60s? The answer is advisory positions.

The idea behind an advisory position is that it's usually part-time and not
entirely subordinate. The CEO can terminate the relationship, of course, but
it's assumed that the advisor has a full-time job already (or is retired) and
won't be hurt much if this happens.

When the role works, the advisor can speak candidly and as an equal, because
he's not entangled in the office politics and he's not afraid of losing his
job.

