Advisory Board remuneration

RichoRicho Posts: 3subscriber Member
I'm in the process of putting together an advisory board for my startup. I have a business partner...we already have some sweat equity but it is all very new. In order to boost our credibility etc, we're putting together an advisory board with probably 3 or 4 well connected and reputable people.

So my question is, when a person asks what they get in return for their participation on the advisory board, what is the normal arrangement people enter into? One person has said they are happy to do it for nothing. Another has asked specifically what the remuneration is.

I've been advised that if anyone asks for cash, then don't bother with them. Is that right?

If no cash, what type of equity would you offer someone who was well known, had good contacts, but didn't participate much, didn't invest and just let you leverage off their name to raise capital?

I know there's probably no definitive answer...but just interested in hearing the range of opinions.

Thanks in advance! 

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