Advisor

“We have the occasional advisor who departs and tests those things. And we always protect them because we need to protect the business.”

“Advisors are increasingly Showing a desire to let go of the investment side of it. Probably a little slower than the industry expected, but it is happening.”

“I would tell you come to the center, meaning come to the corporate teams, the home office, as opposed to trying to go out to a thousand advisors individually, which we still have managers trying to do that. That's just a hard road.”

“We work with some advisors that I think are more sophisticated than some of the big sovereign wealth funds and pension plans we work with. On the flip side, we work with some advisors that have never allocated to anything other than public equity and public fi…”

“I think the biggest thing that could go wrong is that these products are not sold appropriately. We saw a little bit of that in the past, but I think the biggest risk here is that advisors don't spend the time to fully understand the liquidity profile, the ris…”

“That mastery of how do you surround yourself with two or three people who can be your go-to advisors for certain topics. Now, I usually say that don't go to a Japanese restaurant and ask for fried rice because just because they have rice. Like they're, that's …”

“My rule of thumb is don't let anybody be an advisor who can otherwise be an investor.”

“These people, you're going to give them a teeny, teeny, little, teeny sliver of equity that's going to vest month over month for a short period of time, and these people are going to achieve these really important milestones for your company so that you can ge…”

“You don't want someone to sign up for a month. You want them to sign up for at least a year, because over that year you get to have the ability to really help them to make traction with what they're doing.”

“So I think any growth team that does not have an advisor is a growth team that is underperforming”

“I think that you should not hire an advisor until you do some sort of workshop with them on the problem that you're experiencing.”

“I have found a lot of people have, who have been successful in the past, they apply their roadmap for their success to everything else they do in the future, and there's just too many nuances to do that.”

“If your buyers don't value you as an advisor, I would question whether that buyer is a good fit customer and whether they will do everything they need to do to succeed with your plan.”

“They're better investors. Also not necessarily better board members, not necessarily better advisors, not necessarily a better bunch of things, but definitely better.”

“I think the things that matter most are one is like, did they develop the playbook or did they scale the playbook? I think you see a lot of split between somebody who scaled the playbook that was developed prior to them, or they developed the playbook from scr…”

“So think about it in terms of structure your vesting. Commensurate with the value you want, which is very much front-loaded. I'm also a big fan of three-month cliffs. Something I, I've done, I always do actually, is listen, in the first three months, you'll kn…”

“If this person wasn't a customer, would they make for a good advisor? And if the answer is yes, then make them an advisor as a customer and compensate them with that equity.”

“Anyone who's worth being an advisor probably should have 25 to 50,000 dollars to put into your company.”

“So even before choosing the partners that you want with you around the table, my number one advice would be to think what VC, what advisor, what angel, what operator has the network that I need to actually unlock some customers.”

“The playbook we did at Pigment is simple. We started to create some mini CRMs with all of our VC All of our advisor tracking all the P zero, P one, P two priorities of the companies we wanted to sign and making it a win-win, meaning that basically we would all…”

“If you are already 50 something or you know, more senior, I think the most important thing is to really show the others you your business have potential. And I think it's quite important to you have a really clear deal with that person. If you contribute this,…”

“If I put that filter of saying, I'm only going to work with people that are actually working and building their own business and really moving the needle in a significant way and what they are doing day to day in their own job. I kind of don't need to worry as…”

“Advisors tend to be able to answer questions with efficiency and coaches tend to be able to walk you through what sometimes is a more continuous journey that has you know different paths that you need to navigate and requires a little bit more intimacy than yo…”

“An advisor that asks for money is probably not an advisor you want on your team, because an advisor is trying to help you grow the business, right? They're trying to expand that share price. And if you pay them cash out of the balance sheet, it's actually decr…”

“The way that I've structured it is real simple. What would I pay this person as a consultant? You know, if I were to meet them at a party and say, Hey, I really have this problem. Can you help me to do this? How much would I pay them? Now, of course, this will…”

“Like you never give that percentage upfront. They earn that over, you know, a two year period.”

“In almost every case, you will know far less about whatever business you're talking about than the founders who's in it every day and fighting the fight every day.”

“And what's really great about a coach is that they're actually a safer place in a way than a board is. And it's not like, well, I have an advisor. That's not the same. An advisor will cancel a meeting with you. They have something else to do. They won't be con…”

“Advisors are investors who want stock for free, and that's kind of how I think about it. Like, you know, people should invest, ideally, instead of advising for free shares, and I know this is in like a one size, but some situations, like I was saying it's appr…”

“They might want to implement some of these insights from behavioral finance, but unless you control the technology, it's very hard for you to do that.”

“Actually, the algorithm that we have a patent on is called the Advisor.”

“There's a tremendous amount of knowledge required to be a successful entrepreneur. It is truly a mentorship sport. And if you don't have the right advisors around you, the right people to support you can fail for things that are very avoidable.”