Like anything to do with a startup, it's about proactive outreach. AngelList is a great way to research what people have done before. You want to optimize for relevant experience. AngelList however is very ineffective for making cold connections. Instead, I use LinkedIn and ensure to always write a personalized introduction with my connection request explaining why my company is something they would be interested in.

After the connection is accepted, I then follow-up with a personalized email thanking them for accepting the request and then asking to buy them a coffee or schedule a meeting.

I have built a great network of both formal and informal advisors and investors through this process.

Formal advisors really should be limited to just a few. In these cases, granting options to purchase equity between 0.5 - 1% is standard for great advisors. But reimbursing expenses is far less standard. I'll always offer to pick-up the tab as a sign of respect for their time, but other than that, advisors (myself included) are generally happy to pay out-of-pocket unless for travel.

Just like any relationship, be sure that you want to make a long-term commitment in equity before formalizing the relationship. Often, good advisors where there is a mutual chemistry will be happy to do many meetings without anything committed.

Lastly, I would caution you to be wary of people who approach you to act as an advisor and/or people who are actively operational and also on many advisory boards. I limit myself to a handful of formal advisory relationships at a time and it's usually owing to a longstanding friendship that I am an advisor. You want your advisors that you're paying equity to to really be engaged.

Happy to talk any of this with you in a call.