Most Advisory Boards Are Wasted Potential
You recruited impressive advisors. They agreed to help. Then nothing happened. Occasional emails go unanswered, quarterly calls get rescheduled, and the advisory board becomes a list of names on your website that provides no actual value.
The problem isn't your advisors — it's how you communicate with them. Advisors are busy people donating their time. If you want valuable input, you need to make it easy to give, specific enough to be useful, and structured enough to respect their expertise.
These templates help you extract real strategic value from your advisory relationships.
Recruiting an Advisor
Subject: Advisory role — [your company name]
'Hi [Name], I'm [your name], founder of [company — one sentence description]. I've followed your work on [specific thing — not vague flattery] and I believe your expertise in [specific domain] would be invaluable as we navigate [specific challenge]. What I'm asking: [frequency — quarterly calls, async input on specific questions, introductions]. What I'm offering: [equity amount — typically 0.25-1%, cash stipend if applicable, access to your network/product/market insights]. Time commitment: realistically [X hours per quarter]. I'm not looking for a name on a website. I want genuine strategic input on [2-3 specific areas]. Would you be open to a conversation about this?'
Be honest about time commitment and specific about what you need. Advisors who say yes to vague asks give vague advice. Advisors who say yes to specific asks give transformative input.
The Advisory Update Email
Subject: [Company] advisory update — [quarter/month] — specific input needed
'Hi [Advisor], here's your quarterly update, followed by specific questions where I need your expertise. Company status: [3-5 bullet points on key metrics, milestones, challenges]. Where I need your input: Question 1: [specific, answerable question with context — not 'any thoughts on our strategy?']. Question 2: [specific question]. Question 3: [specific question]. For each question, even a 2-3 sentence response would be enormously helpful. And if any of these spark a longer conversation, I'd welcome a call at your convenience.'
Specific questions get specific answers. 'What do you think?' gets ignored. 'Should we pursue enterprise sales given our current team size and product maturity, or focus on self-serve growth until we hit $X MRR?' gets a thoughtful response.
Requesting an Introduction
'Hi [Advisor], I'd like to ask for a specific introduction. Who: [person name and title, or type of person — 'a VP of Engineering at a Series B SaaS company']. Why: [specific reason — not networking, but a concrete goal]. Context you can share: [a brief they can forward — saves them writing an intro email from scratch]. The forwardable blurb: [2-3 sentences about your company and the specific reason for the connection that they can copy-paste into an intro email].'
Making the introduction easy is the key. Write the forwardable blurb so your advisor can literally copy, paste, and send. The easier you make it, the more likely they'll do it.
Re-Engaging a Silent Advisor
'Hi [Advisor], I realize I haven't been doing a good job of keeping you engaged, and I want to fix that. Here's a quick update: [company status in 3 bullets]. I have one specific question where your expertise would make a real difference: [single, important question]. If the advisory arrangement isn't working for you — whether due to time, interest, or anything else — I completely understand and I'd rather know honestly than keep sending unanswered emails. Either way, I value the relationship.'
The 'permission to exit' paradoxically increases engagement. Advisors who feel trapped disengage. Advisors who feel free to leave often choose to stay and re-engage.
Transitioning an Advisor Out
'Hi [Advisor], as our company has evolved, our advisory needs have shifted toward [new area]. I want to be respectful of your time and honest about the fit. I'd like to transition our formal advisory arrangement, effective [date]. For equity/compensation: [terms — vesting status, any acceleration provisions]. What I'd like to maintain: an informal relationship where we can occasionally connect. Your contributions to [specific things they helped with] made a real difference, and I'm grateful.'
End advisory relationships as gracefully as you start them. The advisor community is small, and how you handle transitions affects your ability to recruit future advisors.
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