Introduction: Mastering Your Advisory Board Setup
Every SEIS/EIS startup faces blind spots. You might ace product-market fit but fumble regulatory hurdles. Or you can nail fundraising but trip over hiring. A solid advisory board setup fills those gaps. Simple as that.
In this guide, you’ll find a step-by-step path to your perfect advisory board setup: pinpoint expertise needs, source advisors, draft airtight agreements and align incentives. Plus, see how Oriel IPO’s commission-free network lets you connect with seasoned SEIS/EIS advisors without losing equity. Ready to transform your funding journey? Build your advisory board setup and revolutionise investment opportunities in the UK with Oriel IPO
Why Your SEIS/EIS Startup Needs an Advisory Board
Startups often operate lean. Founders juggle product, marketing, finance. But government-backed SEIS/EIS schemes demand specific tax and compliance know-how. Enter the advisory board.
An advisory board is a panel of experienced professionals who give non-binding strategic advice. They don’t hold fiduciary power like a board of directors. Instead, they act as a tight circle you can trust when tough calls arise. Think of them as your personal think tank—on call for quick questions or deep dives.
Key benefits:
– Fill knowledge gaps in hiring, regulatory affairs or growth strategy.
– Gain third-party perspective to validate big decisions.
– Tap industry connections to unlock partnerships and talent.
Mapping Your Advisory Board Setup Needs
Before you hunt for advisors, get clear on what you need.
-
Identify skill gaps
• Hiring expertise
• Regulatory navigation for SEIS/EIS compliance
• Industry know-how (healthcare, fintech, etc.)
• Fundraising and investor relations -
Rank priorities
• Score each gap by impact vs. difficulty
• Focus on must-have skills first -
Define commitment levels
• How many hours per quarter?
• Expected deliverables or milestones
When your priorities are set, your advisory board setup becomes a targeted search rather than a shotgun approach.
Finding and Screening Advisors
Tapping Your Network
Start with mentors, past colleagues or investors. Angel investors you meet might even suggest advisors—whether they invest or not. Each intro reveals who’s genuinely keen to roll up their sleeves.
Conducting a Hiring-Style Screen
Treat advisors like key hires.
– Interview rigorously.
– Check references.
– Confirm no conflicts of interest (especially if they advise a competitor).
A high-profile name might sound great on paper, but if they’re always too busy, they won’t deliver value. Sometimes a less famous but more engaged advisor is worth their weight in gold.
Structuring Advisor Agreements and Compensation
A clear agreement sets expectations and protects your startup.
Key Agreement Elements
- Confidentiality and non-disclosure clauses
- Clearly defined duties and time commitment
- Agreement duration (e.g., one year, renewable)
- Exit terms (how to part ways if priorities shift)
Equity, Vesting Schedules and Cliffs
Most advisors are compensated with equity, typically between 0.25% and 1% of shares. To align incentives:
– Use a two-year vesting schedule with a six-month cliff.
– Tie performance to benchmarks (e.g., securing X partnerships).
– Reserve enough equity for future hires—you don’t want your advisor pool to cannibalise your option plan.
A smart advisory board setup balances generosity with flexibility, letting you replace underperformers without losing control.
At this point, if you’re ready to streamline your process and tap into a curated network of SEIS/EIS experts, Explore Oriel IPO’s advisory board setup to connect with top SEIS/EIS advisors
How Oriel IPO Supports Your Advisory Board Setup
Oriel IPO is more than just an investment marketplace—it’s your hub for assembling a high-impact advisory board.
- Commission-free model: Startups keep more funding.
- Curated advisor network: Handpicked experts in SEIS/EIS, regulatory affairs, and key industries.
- Educational resources: Guides, webinars and insights on SEIS/EIS tax reliefs.
- Transparent subscription fees: No surprises, all access.
With these tools, your advisory board setup becomes smoother. You focus on strategy; Oriel IPO handles introductions and compliance checks.
Best Practices for Your Advisory Board Setup
- Set clear objectives
• Milestones, KPIs and expected outputs. - Schedule regular check-ins
• Quick calls or face-to-face sessions each quarter. - Rotate roles as needed
• Audit your advisory board every six months.
• Cycle out under-utilized advisors. - Keep communication open
• Treat advisors as part of the team—share progress, thank them often.
By following these best practices, your advisory board setup remains agile and aligned with your growing needs.
Beyond Advisory: Evolving Roles
Sometimes an advisor proves so valuable they become a full-time hire. When that happens:
– Realign on job responsibilities and compensation.
– Transition equity vesting schedules to an employee option plan.
– Ensure mutual commitment before making the switch.
Your advisory board setup is not static. It should evolve alongside your startup, turning strategic allies into core team members when the time is right.
What Founders Say
“Oriel IPO’s network connected us with a regulatory wizard who saved months of paperwork. Our advisory board setup has never been this smooth.”
— Priya Sharma, CEO of GreenTech Labs“The commission-free model meant we kept every penny of our SEIS funding. Building our advisory board through Oriel IPO was a no-brainer.”
— Daniel Lee, Co-founder of HealthWave“Clear agreements and vetted experts—this is exactly what early-stage founders need. Our advisory board setup has driven real growth.”
— Emily Carter, COO of FinVest Innovations
Conclusion
An effective advisory board setup can be the difference between stumbling through SEIS/EIS processes and sailing past regulatory hurdles. With a clear roadmap—identifying gaps, rigorous screening, solid agreements—and the right platform by your side, you’ll build a board that truly accelerates your startup.
Ready to get started? Start your advisory board setup journey today with Oriel IPO
