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Why Mentorship?
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Why Mentorship ?

Entrepreneurs take advantage of experience of Business Mentors.

Most leading entrepreneurs have had mentors which helped them remain innovative and ahead. Mark Zuckerberg had Steve Jobs, Warren Buffett had Benjamin Graham, and there are many more such examples.

Why do entrepreneurs need a mentor?

Entrepreneurs would always set out to traverse the path untrodden. However even they need direction and advise during challenging times. If there are no visible paths then it is best to ask someone who has taken a similar path.

In the internet era all information is supposedly available on the internet. A lot is written down in books, however not all knowledge is documented and mentors when building their companies simply did not have time to document their experiences.

“The credit belongs to the man who is actually in the arena; whose face is marred with dust and sweat; who strives valiantly, who errs and may fall again and again, because there is no effort without error or shortcoming.”

…..”Theodore Roosevelt:

Mentors would have years of experience tackling and overcoming hundreds of situations and have learnt from costly mistakes, which is what you get from a Mentor.

Each of these mistakes and timely advise can save you from situations viz years of wrong product development, entry into a wrong geography or an untimely hire,all of which can either stunt growth or reduce profitability

In the early stages of a company when there is nil or lesserpresence of senior management in the team, the entrepreneur feels the need of a partner to have an uncompromised business conversation. Someone who is not an insider and thereby prejudiced by the constraints of the organization, and yet understands the operating boundaries like an insider. That is where the mentor comes in.

Situations when seeking Mentorships

Entrepreneurship is about a lot of decision making. There often comes time during the journey, when every path at the cross roads seems the best. These are times when the presence of an experienced mentor is welcome for brainstorming.

Mentors are always a bouncing board, in many situations. Mentors are beneficial in strategy discussions, goal setting, reviews and adherence etc, Some pointers to situations where Mentor can be useful are listed below.

Business Mentors are beneficial in strategy discussions, goal setting, reviews and adherence etc…

Co-founder related :

Do you need a co – founder ? Why not take a professional instead ? Will the co-founder to be, resonate your ideas? Or would you end up squabbling. And after a decision to take a co-founder is taken, how to start the search, how to short list, and once shortlisted brushing past an experienced entrepreneur mentor would be helpful. Co-founder stocks/compensation if not already decided is always a matter of dilemma. Can someone negotiate on behalf of the founder or at least can he be a non-partisan dispassionate referee such that the founder and co-founder sign off on a win-win deal

Hire :

related :Is this is the right time to hire for a strategic/senior position and if so, what is the right compensation. How does one attract good professionals when cash is always so short. How to position the company to attract good talent. How to setup a good ESOP policy, or should we give stocks and if yes how much ? Is there a thumb rule ?

Milestones &Reviews :

Although entrepreneurs are self driven, since they hold so many projects in their head, some projects can suck up all the time and some other very important projects/activities may get sidelined. As a working professional there was always the boss and the monthly reviews which helps in auto-aligning oneself. Entrepreneurs do need assistance in goal setting and be reviewed regularly

Shoulder :

There comes a time, when you need someone to share it. The success, the sorrow, someone who can understand the significance of the event that led to the success or sorrow. There are times, when there is a particular problem, be it team , product, pricing, competition, board, cashflow of any kind that pushes the entrepreneur to sleepless nights and that is when there is need for an immediate bouncing board to conclude on a solution.

Investments & Finance :

Financial prudence is extremely important towards success in an entrepreneurial journey which also includes right timing for investing into a new product/feature/service/geography, right time hire, cashflow prediction etc.

There is a lot of preparation before fund raise, Mentor helps in shaping the company before fund raise.

Hey Founder! Do you need a Business Mentor!

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We work alongside the founder in navigating the crossroads of a startup’s journey and help catapult beyond it’s escape velocity

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