I'M BEING ASKED TO JOIN A STARTUP'S BOARD OF DIRECTORS. COMPENSATION MODEL?
There is a two-year old startup in the restaurant industry that I have started working with, and they have asked me to participate in their board and to serve as an advisor. They have a clever, scalable thesis, and I expect them to do well if they can achieve traction quickly. Does anyone here have experience in a similar situation, and guidance on what to ask for from a cash and/or equity standpoint? They currently have two employees, and are just starting to collect any revenue.