Luc Levesque: preference

Transcript context

…The point you just made about how one conversation can have a ton of impact is a reminder of why sometimes the price of an advisor feels absurd where like, "For one hour it's like thousands of dollars," but it's because obviously they spent a decade learning a thing and one conversation is all of that work they put into it crystallized for you in the moment. Exactly. It's something I've experienced several times in hindsight when you're like, "Okay, here's the needle in the haystack" and then it's implemented and you can see hundreds of percentages, sometimes over a thousand percent lift when you get it right. It's exhilarating. It's great. I have something I used to say, which is, you want your impact to be so big there's a slide in the next board deck on try to explain what happened. That can happen when you are advising companies because you're able to share a very quickly insights. But one way to drive alignment is not everybody can do this, not all advisors do it this way, but I personally love just when I do these, which is not that frequent, just purely doing equity because I love the alignment in outcomes where the founder will be successful and you will be successful. So the incentives are really good to drive the right performance and the right outcomes that you want as a founder. So if you can do it, I would definitely advise founders to bring advisors in for equity if you can. I think the same applies for your internal growth team. You want to make sure that the teams are incentivized not on activities, on doing stuff, because there's a lot of stuff to be done in growth, but really driving the outcomes that you want. And equity's just a great way of saying, "Hey, we're in this together. We're on the same side of the table. Let's go grow this company." I was actually about to ask you what kind of structure you recommend for an advisorship. Is there anything else you can share about just what you'd recommend a founder do in terms of compensation for an advisor?…

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