We're Recruiting Advisors to Volunteer Four (4) Hours/Month to Counsel and Encourage Startups
Three groups are supporting prospective entrepreneurs and their teams…
- Entrepreneur Collaborators
- Biz, Tech & Engineering Advisors
- Seminar Moderators
The following discussion and signup is solely for Advisors.
Advisors are entrepreneurs, consultants, and retired and working professionals who want to provide advice and direction to startup teams. Communication is via the Gulf Coast Startup web site forum, email, Skype, telephone, personal meetings or an invitation to a Seminar session.
Advisors are asked to contribute about four hours a month to provide advice on a wide range of subjects including, but not limited to...
- Defining customer needs
- Conducting interviews
- Product specifications
- Identifying niche market opportunities
- Developing a strategic marketing plan
- Evaluating competition
- Sales forecasting
- Building pro-forma Profit and Loss and Cashflow Statements
- Building a startup team
- Internet strategy, site design and configuration
- Internet collaboration tools
- Programming languages
Remuneration
There is always a question as to whether a startup should provide remuneration to an advisor. Most times, cash remuneration is not possible initially because of a startup’s restricted cash position. An advisor should be remunerated if they are adding value and contributing to the business’s success, especially if they are contributing more than four hours per month. If the startups cashflow is sufficient, the advisor should receive a consulting fee. We also advised startups to provide some form of equity remuneration through a stock option pool or founders’ shares – typically 2 to 3% of total equity
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