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It’s tough to suss out, so start with these three questions to find out if a particular person is right for you: Remember, these questions should only be asked once a candidate meets the minimum requirement of embracing the same core values as you do. Then, whittle down your pool of potential candidates using a methodology that includes these three questions.
We believe that a co-founder is an asset, but we also know there are risks and dangers to having a co-founder, too.
That means signing an advisor agreement: a legal document that briefly outlines the advisor’s commitment to your company and gives him or her a small amount of equity.
You don't need to find a lawyer to do a new one for you.
Related: Advisory Board 101: How to Get Advisors to Say Yes Why is an advisor agreement so important?
Sure, Mark Zuckerberg of Facebook went for it alone, but founders like him are few and far between. Remember that nasty lawsuit by those brawny Harvard students?
Here’s why a co-founder may be a crucial factor in the success of your company: Face it—there are some things you’re great at and really enjoy doing, while there are others you feel so-so about. If you’ve started and grown your own business before, you know that as time progresses, different management styles work better than others. Advisors, board members, and mentors are great, but there is nothing like being able to talk to someone that is going through the exact same process as you are, facing the same risks, the same problems, and the same potential rewards. We all have those days when we’re tired, grumpy, and we just want to go sit on the couch and mope.The following is the second in the series "Advisory Board 101" in which Jessica Alter, the CEO and entrepreneur behind Founder Dating -- a people network for entrepreneurs -- provides insight and shares advice pertaining to the intersection of advisory boards and startups.Two months ago we expanded Founder Dating -- a people network for entrepreneurs -- to connect entrepreneurs and advisors.Don’t try to recreate the wheel with this agreement.