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Advisors
Advisor Billing Guidelines
Discovery
As outlined in Schedule A of your Advisor Agreement, VOLTA allows advisors 10 hours each month to work with VOLTA Residents to conduct discovery. The purpose of this discovery is to collect the information needed to define the scope of support needed by VOLTA Residents.
Support Engagements
Once discovery has been completed with the startup and you have collected enough information to define the scope of a support engagement please update the support task in Asana using the .
Objective: Qualitative description of the goal of the support.
Key Results: An objective outcome or metric that will be measured that defines the success of the support engagement.
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Objective: Optimize pricing to maximize revenue for the targetted ideal customer profile.
Key Result #1 - Develop and document the recommended pricing strategy by Aug 31, 2022
Key Result #2 - Increase average contract value from $1800 to $2400 by Dec 31, 2022.
Objective: Develop an employee onboarding playbook to improve new employee productivity and engagement.
Key Result #1 - Define and document the ideal employee onboarding process by June 15, 2022.
Key Result #2 - The team has successfully onboarded a new hire using the developed playbook by Nov 30, 2022.
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Estimated Hours: The estimated hours needed to support the startup in achieving the objective are measured by the successful completion of the key results.
Support Engagement Approval
Once this information has been added to the Asana Task, the VOLTA team will review the provided information and ask any clarifying questions needed before providing approval for the estimated hours.
The “Approved Hours” field will be used to record the number of hours that VOLTA has approved for delivery and invoicing.
NOTE: When submitting invoices for approved work, invoice hourly totals must not exceed the number of approved hours plus the 10 discovery hours allowed each month.
Support Engagement Change Requests
VOLTA encourages advisors to explore potential opportunities to help the Startup they are supporting address problems that may negatively impact growth.
As support is being provided to VOLTA residents, and additional scope is identified by the advisor, the change must be updated in Asana and approved by VOLTA before Advisors will be able to bill for this additional support.
VOLTA’s goal is to make changes to the scope as efficient as possible. For auditing reasons, however, these changes must be approved before the hours can be billed. If additional support is provided without prior approval, VOLTA will not be able to compensate the Advisor for this support.
Billing Detail
When submitting monthly invoices for the approved support provided to VOLTA residents Advisors must provide the following detail so VOLTA staff can ensure timely billing.
Example Invoice Detail
Alpha Startup - Discovery - Jun 22 2 Hours $X.XX
Alpha Startup - Pricing Strategy support 6 Hours $X.XX
Beta Startup - Discovery Jul 5 1 Hour $X.XX
Beta Startup - Employee Onboarding Support 8 Hours $X.XX
Discovery Hours
When including this time on monthly invoices, please ensure that the line item makes note of discovery hours for each startup discovery that was conducted.
Example Invoice Line Item:
Startup Name - Discovery - Date 2 Hours $X.XX
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