Ask HN: Should I form a Board of Advisers?

4 pointshansy3 comments

I was wondering what the HN community thinks of having a board of advisers?

Do I need to offer the board a percentage of equity in the company?

I was advised (heh) to get some "strategic" people on board as advisers, never got around doing it, and never had any regrets. YMMV, but I suspect you are overthinking the situation.

It depends on your business. Can you go into more detail?

Typically advisors get around .5%.

My business is a social network, but in the future it will rely heavily on crowd-funding elements to generate revenue.

I used to work for a financial firm directly under the CEO, so I established a great relationship with him. He was one of the smartest men I ever met and knew almost everything about SEC regulations, investment strategies, etc.

I was considering turning to him for expertise in the future.

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