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I had s...I certainly can relate to your experience. I had similar experience in my early career as an entrepreneur. However, more recently, I have taken the role of advisor or BoD.,myself. I make it a point to express my beliefs based on the pitch I'm presented it, and if I can not help - I just say No, and may also redirect them to somebody in my network who might be able to help the founders. There have been numerous instances, where in I have turned down an advisor role, just because I didnt "gel" with the founder(s) vision. It has saved me lots of time, effort and sour relationships! I'm sure it did the same for the founders. Best part is, being open helps create a relationship based on trust, and I usually, end up being the unofficial sounding board- for healthy debates. I just love discussions with a "fired up" mind. <br /><br />As a matter of fact, one of the start-ups I'm working with is based on just a "hand-shake". I took me just 1 email,a 30min phone conversation and 1pg/3paragraphs of business plan (yup! its 1pg/3paragraphs) to believe the technology/product of the said founder of the start up. And knowing the founder does not have enough funds to pay me, I accepted the role..Now, we have a very health business relationship thats based on trust and shared mission & vision. I sure can afford to wait for the business to grow before I expect compensation.<br /><br />Secondly, you try to avoid advisors with Ego issues ("I seen it all kind!). Find, somebody who is willing to step back and advice or let the founders bring in another expert when the business needs change. A good way to recognize this type of advisors - is if and when you suggest to bring others on board - the tone of advice change. There will be a renewed debate of compensation! One who was available all the time, is suddenly very busy...etc<br /><br />I sure would like to caution all entrepreneurs/starts up that "hand-shake deals" dont happen all the time. There will be disappointments, meeting wrong people who end up wasting your time -however dont give up! its like the sales process - you will get 20 No's before you get one Yes!venkyhttps://www.blogger.com/profile/17869441909972930685noreply@blogger.comtag:blogger.com,1999:blog-12748226.post-31782948213237240112008-06-24T03:37:00.000-07:002008-06-24T03:37:00.000-07:00Hi Sudha,Stumbled upon this post via a google sear...Hi Sudha,<BR/><BR/>Stumbled upon this post via a google search for "startup advisors" and it had just what i was searching for.<BR/><BR/>I particularly like the idea of identifying one's need for startup advisors and clearing expectations upfront. While network and experience are one of the most common reasons to have an advisor its not wise to have someone as an advisor just because of their brand name or network. <BR/><BR/>Advisors investing in the company is a win-win for both sides involved and ensures better resultsAnonymousnoreply@blogger.com