Why do you need a mentor for startup?

It’s necessary to find a mentor who can invest time to know your personal capabilities and business model.

-Nigel Davies, Founder of Claromentis

Why do you need mentor for startup?

I’m a huge believer in great mentors to help career development. Mentors can be invaluable whether you’re starting something new. Most people are generally very happy to help. It is important to find someone who is willing to help.

Finding a mentor isn’t easy. You must however start with the right type of mentor for your startup. While finding a mentor, don’t confuse them with an investor. Mentors have a specific purpose to provide advice and guidance. They don’t have to give you the answers but be able to support, challenge and nudge you in the right direction.

The most important thing to remember while finding a mentor is

• What is the value that you’re able to provide them? This need not be financial. Try to find ways to pay it forward. Keep them engaged and interested.
• How can you leverage your knowledge, passion and interest to gain benefit from mentorships?
• What opportunities are available for mentorship?

One of the easiest ways to find a startup mentor is through startup accelerators. Read more about what startup accelerators do, if you want to find out more about them.

Beware of certain types of mentors

• Wannabe mentors who don’t quite get what you’re trying to do or don’t invest enough time in understanding you

• Mentors who like to just talk rather than listen. you end up losing a lot of time trying to explain your idea rather than finding the best way ahead

• Impositions – some of them don’t respect the fact that it is your startup and decisions and they plan only an advisory role. They end up trying to take too much control over conversations which make them counterproductive

• One size fits all approach – mentors with the attitude that it’s either my way or no way. It’s best to steer clear of those types

There are a lot of wannabe mentors out there who have no clue of what being an entrepreneur means. They might end up wasting a lot of your time. Look at what they’ve done before taking their advice and always take these advises with a pinch of salt

They are doing you a favour but their role is limited. It is useful to look at their motivation in helping you. If you don’t find a clear one, it is always useful to know and ask. You don’t need to be driving down a blind path and wasting a lot of your time. The best route is always something which gives both of you something in return

Mentors do have an expiry date sometimes!

• Be very sure what you want out of them. So many startup’s have a long list of mentors but they’re not just an endorsement. In fact there’s no better endorsement than a paying customer. If you’re looking at a mentor for this, then you’re really wasting your time.

• It is perfectly fair and natural to have more than one mentor. They might help in different fields

• Don’t always listen to what they say, they must be able to challenge you and vice verse or else the concept of mentorship falls flat.

• Mentors do have an expiry date. This is a business relationship – sorry if it sounds harsh but you can’t be in a place where either of you are wasting someone’s time.