In this episode of Mission One: The Executive Edge, Gerard Miles and Dan Hampton welcome back Nick Button-Brown, Chair of the UK Video Games Council, to unpack what it really takes to serve as a board adviser or non-executive director, especially at early-stage startups.
What You’ll Learn
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FAQs
Q: How much equity should a startup adviser expect?
A: Around 0.5% of share capital for a pure early-stage startup where there’s no cash compensation. Once a company has raised £10M+, a director's fee for your time is more appropriate.
Q: What's the biggest mistake new advisers make?
A: Taking on action items. The moment you own a task, you become the bottleneck. Your job is to review, guide, and give frameworks. The founders execute. If you leave a board meeting with a to-do, something went wrong.
Q: How do you give a founder tough feedback without destroying their confidence?
A: Use the 5-to-1 ratio: five positives for every negative. When you do need to challenge something, don’t declare it wrong. Ask questions instead. If they can't explain it after several attempts, they'll usually reach the conclusion themselves.
Q: When should a startup formalize its board?
A: When you take your first institutional money. Angel round? A casual advisory setup is fine. But the moment VC money comes in, you need proper records, formal decision-making, and a small board.
Q: What's the best way to break into board work?
A: Angel investing. Put a small check into a company in a space you’re curious about, then show up and be useful. Over 12 months, you'll build a real relationship with the founders, learn the sector, and naturally earn the conversation about a formal role.
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