Good mentors are a secret weapon propelling successful startups.
Many think success is the by-product of launching a startup, but that is not always the case.
You’d be surprised to know that most new businesses fail.
So, if you want your startup to succeed but are aware that chances are less, then your success potion must have passion, commitment, patience, and will to listen, observe and adjust.
The easiest way to get all this in one package – good mentors.
The advantages of mentorship are plenty – experience, knowledge, and the ability to refine the protégés’ performance.
Following are several other reasons why mentors’ input is vital for success.
1. Having somebody to rely on in the long run –
A mentor guiding your startup could become a long-term engagement, but you will gain a person who’ll support you and debate your ideas with.
For this to happen, you need trust and chemistry with the mentor.
Also, every mentor could prove to be precious at different stages.
2. Focus on critical business issues
You need to employ your mentors’ talents to the hilt! Founders need to use the time and skills of their mentors in the areas where they lack, and you know it’ll be good for your business.
3. Hearing the truth
A mentor will inspire and encourage you, but they shouldn’t be a yes man, as it won’t broaden your horizon. A mentor must be honest and comfortable enough.
But don’t be discouraged by a good mentor. They only amplify your flaws so that you fix them. A good mentor should see what others can’t.
4. Being challenged
When you have a mentor, you have another set of ears that will challenge your approaches and mould your opinions. This step is imperative; a virtuous mentor will always be honest with you by challenging your thoughts.
5. Developing a skill set
Don’t think of mentors as a guide – they are professionals with years of experience.
Their hands-on knowledge and unique approach to you will be more helpful than any theoretical one you can find online.
6. Amplify your network
Startup mentoring will open more networking opportunities for you as you may get to know more people and gain new connections. A mentor will help you find a worthy team member, an investor, or another mentor.
You can learn how to network with a mentor as they can teach and guide you where to look. But the onus of communicating with people will always be on you.
So, how to choose a startup mentor?
You have to prepare yourself to make the most of startup mentoring. Here’s how:
You should know what you want – Ensure that you have a rough idea of what you want to learn from a mentor, or else, you’ll waste your time and of the mentor.
Be open-minded: You should be open to having a mentor, as you’ll hear contrasting opinions.
Choose the right mentor – You need to have chemistry with your mentor. Go out for lunch and see how you can work together. They shouldn’t be a ‘yes’ person!
Never stick to one – A mentor isn’t for your whole life. You’d need to change your mentors based on the skills you need to learn.
To conclude
Having a mentor isn’t just limited to entrepreneurs. Startups get a significant boost from hiring mentors that provide indispensable knowledge that not even books can’t impart.
Recruiting mentors will expand a startup’s likelihood of success more than almost anything else.
With long-term support, startup mentoring provides skills and challenges that inspire and help you grow your network and acquire new skills.
It will also save you time, money, and effort.