Compensate your advisors appropriately

Good advisors can be the difference between success and failure of a start-up.  Seek out advisors who have expert knowledge of your company's business and market (or some aspect of it).  And when you find one, make sure you make it worth his/her time to give you dedicated time.  If you're just starting up your business and know you still need to raise lots of money, don't offer your advisor 0.25% of the company vested over four years...there's just not enough upside for the advisor to justify spending any time with you, especially after one considers all of the dilution that is still to occur as subsequent financing rounds occur.  Two percent vested over two years is more appropriate.  Now, if you've already raised all the money you need to for a while and little or no dilution is foreseen, and you're close to revenue, then 0.25-0.50% over two years is more appropriate.  There are other factors that play into this as well, like what is the total projected upside for the company, etc.  Bottom line:  If you find an advisor who can provide great value, work with him/her to achieve a reasonable compensation package.