What makes a great start-up advisor
Why Most Startup Advice Is Bad—And How to Get the Right One
Over the past two and a half years, I've spoken with more than 300 potential advisors for my portfolio companies, made over 100 introductions, and ultimately hired 40 advisors to support the growth initiatives of the companies we've invested in.
The results have been very different. Some advisors joined formal advisory boards, others became fractional team members, and in one remarkable case, an advisor launched a new business that became a customer of the startup they were advising.
But not every match was successful. Some advisors vanished after initial meetings, while in other cases, startups became discouraged after a few unproductive sessions. After seeing so many interactions, I've learned a lot about what makes an excellent advisor—and how to find them.
Note: My insights below relate to finding go-to-market, growth, marketing, or sales advisors at the pre-seed and seed stages.
Why consider hiring an advisor
We often hear, "There are so many playbooks out there; why would an early-stage founder hire an advisor? It's a waste of time and money, and founders already have a lot on their plate."
Well, that's because most startup advice is terribly wrong if applied in the wrong context. Every company is unique, and no universal growth playbook works for everyone. My favourite example is Sam Altman, who spent years telling YC founders to "launch fast, get feedback, and avoid stealth mode"—yet with OpenAI, he did precisely the opposite, keeping it secret for years, focusing on research, and only launching when they were far ahead of competitors.
The right growth advisor, however, can be transformative. Luc Levesque, Shopify's Chief Growth Officer, has advised major companies like Canva and Twitter. He shared an inspiring story in one of Lenny’s Podcast episodes - on his first day consulting for a company (now publicly traded), he quickly identified a critical flaw in their strategy. His simple adjustment led to significantly improved growth metrics in just three weeks.
This is why good advisors matter—they distil years of experience, help apply the right playbook to the right situation, speed up decision-making, expand networks, and ideally help founders avoid common (but painful) mistakes.
Timing matters
However, hiring an advisor isn't always the right move. It's usually better to build momentum internally before bringing in an advisor.
A good rule of thumb is to seek external support when it becomes critical to reaching your next milestone. Advisors are usually helpful before major events like raising funds, launching products, shifting your GTM strategy, or expanding into new markets. They can help refine the pitch, improve sales materials, and sharpen your overall strategy and execution plan.
Another key moment is when your company faces unfamiliar challenges. Suppose you're tackling something for the first time. In that case, whether it's scaling growth, navigating enterprise sales, improving activation rates, or launching a referral program—an advisor can bridge that knowledge gap and help you avoid costly or time-consuming mistakes.
Most importantly, only hire an advisor when you clearly define their role. If you're unsure what you need, you probably don't need an advisor (yet).
Must-haves of Solid Advisors
Relevant experience is non-negotiable. Early-stage startups face countless problems, and the fastest solution comes from someone who has repeatedly solved similar challenges.
But experience alone isn't enough. The best growth advisors have performed various experiments and learned a lot while running them. A proven track record in growth means that the advisor has driven measurable results, whether scaling from zero to millions in revenue, building repeatable growth engines, or mastering specific channels.
Strong communication skills are essential, too. Great advisors break down complex concepts into simple, digestible advice. This clarity demonstrates deep understanding.
Ideally, an advisor should have a relevant network and be able to open doors to investors, customers, and talent. However, introductions are not everything. The real value lies in guiding you through challenges after those doors open.
The Non-Obvious Qualities of Great Advisors
Ability to be tactical. Great advisors provide actionable insights. The best can distil years of experience into a sentence. They've seen enough experiments to know what works and what doesn't.
Willingness to challenge you. Valuable advisors aren't afraid of difficult conversations. They'll identify blind spots, question assumptions, and push you to think differently. If you struggle with being challenged by smart people you hire, that's a different problem 🙊.
Adaptability and curiosity. Growth constantly evolves, and the best advisors stay on top of new trends, tools, and tactics.
The best growth advisors don't try to solve every problem and know when to say no. They recognise their strengths and focus where they can make the most significant impact. If something falls outside their expertise, they'll admit it and direct you to someone who can help.
Maximising Advisory Relationships
Finding the right advisor is only half the battle. Many promising advisory arrangements don't work because founders skip essential groundwork. Here are a few things to consider that, in my experience, make all the difference.
1. Start Small: Run a small project or workshop with the advisor before committing. This helps you test chemistry and see the actual value of an advisor. Ask about past projects to understand their adaptability and insight.
2. Align Expectations: Clearly define what you expect. Agree upfront on specific challenges they'll address, meeting frequency, deliverables, and success metrics. A simple one-page "advisor agreement" can clarify expectations and prevent misunderstandings.
3. Structure incentives for a long-term partnership: You’re running a marathon, not a sprint, and your advisor arrangements should reflect this reality. Consider implementing vesting schedules for equity compensation that align the advisor's incentives with your company's growth and fundraising journey.
If you're considering giving up the equity to your advisor, Carta provides fantastic benchmarks and playbooks.
Red Flags 🚩
Oh, I have a lot to share here 🥲
Some advisors can do more harm than good, and I experienced it firsthand. The wrong advisor can waste time, give misleading guidance, or be more focused on building their own personal brand than actually helping startups. Here are some warning signs to watch out for:
Lots of consulting gigs, no real operator experience – Some advisors hop from one consulting role to another without ever implementing their own advice. If they can't share concrete examples of applying their insights in real situations, or the results of experiments they did - that's a red flag 🚩
No network in your space – Advisors should bring both knowledge and connections. Without industry-specific contacts, their impact will be limited.
Generalists – Avoid those who claim expertise in everything (product, marketing, sales, fundraising) and promote one-size-fits-all playbooks. True experts have a clear focus.
Excessive LinkedIn/X activity without substance – Advisors who flood social media with memes and generic startup advice are often more focused on personal brand-building than actual impact. They do it usually to get lots of consulting gigs - see #1.
Vague case studies or name-dropping – If an advisor references impressive companies but can't explain their specific contributions, their role was likely minimal.
(Controversial one) Charging only a fee/hourly rate – I get it, equity doesn't pay the bills. However, advisors who insist on cash-only compensation often operate more like full-time consultants or fractional leads. There's nothing wrong with that—just make sure it aligns with what you need.
Final thoughts
Startup advice is everywhere, but most of it is either too generic, outdated, or misapplied. The right set of advisors can make all the difference. The most valuable advisor-founder relationships are built on mutual respect, shared goals, and genuine commitment to your mission. These rare individuals are worth more than the equity you'll offer them.