I am in the early stages of a start-up, going through the FFF round to raise $30k. I have a friend that has started his own company ($14M+ - Tier 1 VC funded). He is very interested in my business concept and has mentioned that
1. he is interested in investing, and
2. he would like to be an advisor.
I can really use his assistance on both; he would definitely add value.
I'm willing to offer him the standard .25% to act as an advisory, but I'm concerned that if I do this, he won't be interested in investing. Am I wrong with thinking this?
I just don't know how I should best move forward -
- get his investment first, then ask him to be an advisor
- combine the investment and acting as an advisor into the same conversation
- ask him to be an advisor, then see if he will invest
Obviously I can use his money, so (without sounding greedy) I don't want to lose that piece of this.
Any thoughts/advice is appreciated!!! Thanks in advance for the help!