Hello, We are trying to determine a fair equitable offer for our initial advisory board. We have had two separate investors and a third private investor tell us we have a Billion Dollar idea. So the question is what should an unpaid offer to the initial advisers look like. IE, equity or other creative packages.
Thank you all for the continued support during this rapid speed startup process.
It depends largely on what you expect from them and how much value they can bring to your company. It is a long, hard, brutal road from billion dollar idea to billion dollar company.
 Assuming the US. When you say "unpaid", does that mean that you're giving them stock for free? If advisors don't pay FMV for their stock, they will have tax problems if your company is successful. Advisors who don't know this are not knowledgeable about startups. If you don't know this, you need startup-knowledgeable advisors.
 Different advisors get different amounts of stock based on what they value they add. 0.25% is about right for most. Exceptional cases are 1%, and you probably don't have any who qualify. You likely have (at most) 1-2 who is worth 0.5%. If anyone wants more, s\he should invest.
When tried to form a advisory board for my 3rd startup years ago, my lawyer told me to do 0.25%-0.5% range based on the contribution to the company, but I will definitely pay 1% or more to someone can get me through round B. I had encountered one people asking 7%, but I refused. and I had encountered people asking for 0.1% BUT wanted a priority to invest in round A/B. I am still sticking with 0.25%-0.5% rule.
Dane, I think it was best said by Elon, "I will have to be dead or incapacitated before I give up." Thank you for all your insightful reply's, please keep them coming, it is so valuable on this site.