For startups, finding the right advisor can be a game-changer. Advisors not only bring expertise to the table, but can also help guide founders through key decisions that shape the future of the company. For ecoSPIRITS, bringing on Eric Tan–who’s held CIO and CSO roles at US tech companies–as an advisor and a board member proved to be a pivotal move. 

ecoSPIRITS is a circular economy startup that has developed the world’s first low-carbon, low-waste distribution technology for premium spirits and wine. Its closed-loop system nearly eliminates all packaging waste in the supply chain, reducing the industry’s costs and carbon footprint. Founded in Singapore in 2018, ecoSPIRITS tech is now available in around 25 countries across Asia-Pacific, Europe, and the Americas.

In this Q&A, we dive into how Eric’s guidance played a major role in building ecoSPIRITS’ tech function and hiring their CTO, helping them scale successfully.

Q: How did you two first start working together?

Anand Subramanian (ecoSPIRITS Co-founder): Having both hardware and software was key for us. We had a solid product team, but the tech side was all over the place. Paul (Gabie), the Founder and CEO, and I didn’t have a tech background, so we knew we needed someone who could guide us. We weren’t necessarily looking for an advisor—we were after a board member who could help us figure out the tech side, especially in hiring a CTO. Through Wavemaker, we met Eric, and his experience scaling tech businesses made him the perfect fit. 

Eric Tan: When I first met Paul and Anand, I wasn’t sure how much I could help. I didn’t know much about the spirits industry or their business model. But they really made an effort to show me what they were working on, even taking me to a bar. That hands-on experience made all the difference. 

Q: What were your expectations going in? Did anything surprise you along the way?

Anand:  We quickly realised Eric brought way more value than just helping with the CTO hire and general tech advice. He influenced things like the way we built our Customer Success and our international expansion strategy. I was surprised by Eric’s child-like passion for new things, considering his success in building companies. 

Eric: I wanted to have some fun along the way, and work alongside people I enjoy. It was an opportunity for me to learn something new, like a new language or instrument. 

After spending time with Paul and Anand, it became clear that they were passionate about solving the problem, and were curious individuals. They were willing to roll up their sleeves.

I was surprised at how my experience and knowledge transferred well to help them solve their challenges. I never dealt with their specific customers, but I’ve dealt with many enterprise customers and I could share about sales cycles and what it takes to win enterprise deals. 

Q: Anand, what value has Eric brought to ecoSPIRITS?

Anand: Since Paul and I aren’t technical and Eric perfectly understood our leadership style, we really relied on him to evaluate CTO candidates. More than that, he helped us look at the bigger picture and reflect on what we actually needed to build. 

He helped us structure our tech function and prioritise our product roadmap. Instead of trying to do everything at once, Eric helped us focus on the most important things for our customers. This kept us on track and saved us money by focusing resources more effectively. 

His advisory quickly cascaded to other areas of the business. For example, he introduced the OKRs (Objectives-Key Results) framework to our leadership team which we’ve been using. He helped us build the processes to drive accountability in our organisation and to become more results- and customer-oriented. 

Lastly, he brought a global perspective. His Silicon Valley experience, combined with his understanding of Southeast Asia, helped us think about how we could scale globally.

Q: Eric, what have you gained from working with ecoSPIRITS? What do you look for when working with startups?

Eric: I love working with founders who are passionate about their business, open to fresh ideas, and value my time and advice. With ecoSPIRITS, I learned a lot—about a new industry, sustainability challenges, and building a global company from Southeast Asia. As an advisor, I look for teams that have a bold vision and believe that they’re building something great. Advisors are not driven by compensation when working with startups. Often times, we’re looking for a place where we can feel like part of the team and be involved in building the future, beyond our day jobs. Money is just secondary. 

Q: What made this partnership so enjoyable and productive?

Anand: What really clicked with Eric was that he didn’t just want to be another board member—he wanted to be more of a mentor and guide. From the start, he came to the table with ideas and made it clear what we should and shouldn’t be doing, especially in the early stages. It felt like he was genuinely invested in our success and wanted to be actively involved. We’ve had multiple workshops with him, and he was always proactive, engaging beyond the usual board meetings. He didn’t just provide high-level advice; he also mentored our tech team and was deeply involved in helping us build a solid foundation.

Eric: What worked so well was their willingness to engage. They were always prepared with thoughtful questions, and they weren’t afraid to challenge their own thinking. They involved me in key decisions, which made me feel valued and the whole experience feels like a true partnership.

As an advisor, I have a different perspective than the founders since I’m not involved in the day-to-day operations. This allows me to see the big picture and point out the progress they’ve made, which they may not always recognise.

Q: How should founders work with an advisor?

Anand: The key is to treat them like part of the team. Don’t just rely on occasional check-ins—get them involved in your product, invite them to important meetings, and keep them in the loop on major developments. But founders also need to come prepared. Advisors aren’t your employees—they’re there to provide insight, not to solve every problem. The best relationships happen when founders bring specific challenges and questions, rather than expecting the advisor to come up with solutions from scratch. The value of an advisor is in challenging and refining your thinking, but that only happens if they’re engaged with a clear purpose.

Eric: Advisors aren’t there to solve problems for you; they’re there to help you structure your thinking. The most effective engagements happen when founders bring clear challenges and potential solutions to discuss, not just broad, open-ended questions.

I find where I often add the most value is when founders present Option A and Option B to me, and I can critique or analyse those options. Or I can say, have you thought about Option C? 

And importantly, founders don’t have to follow every piece of advice an advisor gives. Ultimately, the founder knows their business best, and a good advisor will never be upset if a founder chooses a different path than what they suggested. 

Q: When’s the best time to bring on an advisor?

Anand: For us, it was when we had some market traction but needed the technical leadership to scale. Founders should bring on advisors when they’re making big decisions—like hiring leadership, entering new markets, or scaling up.

Eric: The best time is when you see a gap in your knowledge or experience that’s critical for your next growth phase. Usually, that’s around Series A—when you’ve got some momentum, early customers, and some clarity on what you need, but still have plenty of challenges ahead where an advisor can really make a difference.

Q: How should startups think about advisor compensation?

Anand: Of course, startups should compensate advisors reasonably, but also not overcommit. The ideal advisor is genuinely invested in your business’s success and wants to mentor. They should be more than just a paid consultant; if that’s all you need, hire a consulting firm. Advisors are not employees; they offer guidance, not labour. While their time and expertise should be compensated, respect their time by not overwhelming them with constant requests or expecting deliverables. 

Eric: I’m not a fan of cash-based compensation for advisors, because startups are cash-strapped. I’ve seen advisor compensation vary, and it can range from US$50,000 to US$300,000 in equity. You can do some back-of-the-napkin math when calculating compensation for advisors. Let’s say they value the advisor’s time at US$1,000 per hour for simplicity’s sake. If they assume they’ll meet eight hours per quarter, that’s US$8,000 per quarter—meaning US$32,000 per year. 

Having said that, this is just a simplistic way of calculating compensation. A true advisor will be open to communicating with founders outside of the eight hours per quarter. If an advisor is in it just for the money, they’re probably not the right fit. 

Advisors need enough equity to make it worth their while. If you can’t offer much equity right now, consider paying them for their time to build a relationship. Or, you don’t always have to pay; just reach out via email or message whenever you need help, and I’ll respond when I can. This helps me prioritise how to best use my time to help founders.

Also consider the duration of the agreement and vesting periods. You might make some mistakes when choosing advisors, or your business might change. A shorter initial agreement lets both sides see if the relationship works and if they want to keep going.

Q: What should startups look for when picking an advisor?

Anand: Look for someone who fills a gap in your expertise and truly cares about your business. Find someone who genuinely believes in your company and is in for the ride with you, instead of being motivated by monetary terms. 

While it’s valuable to have advisors like Eric on our board, not every advisor needs to hold a board seat. We’ve benefited greatly from just informal coffee chats with members of Wavemaker’s advisor network. 

Eric: Find an advisor who will challenge your assumptions and push you to think differently. Someone who can be a fresh set of eyes. A good advisor isn’t there to just validate what you’re doing—they’ll tell you when you’re off track and help you course-correct. 

Consider an advisor that might even be in a different industry. Paul and Anand know the spirits industry well, so they don’t need someone else from that space to tell them what to do. Chemistry and compatibility matter too, a lot. You need to have a natural rapport and work well together.

Q: Any final advice for founders on working with advisors?

Anand: Startups have limited resources, so it’s important to ask for help and use those resources wisely. Many founders hesitate to reach out to advisors because they feel like they should have all the answers, especially after raising funds. But the truth is, no one expects you to have everything figured out. If it was easy, someone else would have done it already. Investors and advisors want to see that you’re resourceful and willing to seek out the right expertise when needed. Don’t struggle alone when the right guidance is out there. My opinion is that if people are putting money into my company, it’s my prerogative to make best use of it.

Eric: Founders should also feel comfortable letting go of an advisor when the relationship isn’t working anymore. Sometimes, the business needs change, or the advisor’s involvement isn’t as relevant. It’s better to be clear about that than to drag out an unproductive relationship. A good advisor will understand—it’s all about using time and expertise in the best way possible.

*This interview was edited for length and clarity.

Edited by Jum Balea