Article · 12 min read

7 Tactics to Get the Most Out of Your Startup's Advisors

Phin Barnes (First Round Capital) · First Round Review Free Intermediate

Tactic 7 is the exact conversation you need: you will outgrow advisors, so anticipate it by several months, tell them plainly what is changing and why, thank them specifically, and do not just start dodging calls. It reframes ending the relationship as a normal, professional transition rather than a firing, which is what keeps the person warm in a small ecosystem where you will cross paths again.

  • Outgrowing an advisor (for example shifting from an engineering focus to sales) is expected, not a failure of the relationship
  • Signal the wind-down months ahead and be direct about the why instead of quietly fading out
  • Ghosting an advisor is the one move that actually costs you reputation; a direct, grateful conversation preserves it

The question it answers

  1. How do I know when an advisor or mentor relationship has run its course, and how do I gracefully end it?

Read with it

  1. This is the canonical, industry-standard answer to 'how much equity for an advisor', a free, ready-to-sign template used by... Founder Institute (fi.co) Tool · short The FAST Agreement (Founder / Advisor Standard Template) Founder Institute
  2. Where FAST is the one-pager, this spells out the exit mechanics in plain clause language you can lift: either party terminates... Promise Legal Template · copy-paste template + notes Startup Advisor Agreement Template (FAST-Style, 2025) Promise Legal
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