Ask YC: Finding advisers | Hacker News Reader

Ask YC: Finding advisers

6 pointswhite2 comments

Hi everyone,

We're bootstrapping two startups and we've met the tipping point when we very depend on the Advisers Board. We haven't incorporated, yet, so we can't propose anything in cash or on paper. We're about to look for seed and angel money. However, I'd be happy to start looking for investment having a good advisers on board. I see two key persons on the board - the marketing (product placement) guy and investors-linked one.

I'd be glad if you'll share your thoughts with me. 1. Whom do you think a young startup company should have as advisers? 2. Where can a young startup company find them? 3. How motivated should advisers be to help the company? Cash? Stock? Anything else? What if the company isn't incorporated, yet?

Thanks!

Most of your questions are answered here: http://news.ycombinator.com/item?id=105144

PG has a response to advisory boards. Don't give them any compensation unless you're setting up a formal board of directors. If you're doing that, Guy Kawasaki in his book describes a board as having these types of people:

1) Customer- someone who understands your target market 2) Geek- Reality check guy for dev, and the tech expert 3) Dad- calming influence on the board, experience and maturity 4) Tight-Ass= The person who pushes for totally legal and ethical practices. 5) Jerry Maguire- Mr. Connections who can help you with whatever problem you have.

As always, as long as your products are taking off, everything else will fall into place.

Having a good lawyer or law firm that you trust is fairly essential. They will be able to prepare your essential documents and steer you clear of landmines (especially the ones you know nothing about). If you are truly a cash strapped startup then a quick way to do this is to find the nearest law school (state or private), head to the library, and ask about the relevant area (IP, incorporation, etc.) and find the professor who teaches the subject.

This same principal applies for your financial adviser. Its better to head to your local MBA school and drop in to a professor who can guide you then try to fumble around yourself.

In sum, two essentials: lawyer + CFO

p.s. what is it that you are building?

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