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CANVASSING THE ROLE OF MENTORS IN STARTUPS

1622 Views | By Eyna | December 03, 2018
Canvassing the role of mentors in startups Canvassing the role of mentors in startups

The market for driving schools might have never existed if having a car enabled you to take it for a drive. There are a lot of young and enthusiastic minds coming down to the field with ideas that have the potential to generate revenue and change lives. Inexperienced young minds keep their foot in the door to run the chariot wheel of the business as a disruption. Thus, as much as companies succeed, failure rates follow suit.

Unless the tactician holds the fort, the incessant phase of making mistakes weighs over the future of a healthy startup. Businesses require a deep understanding of elements that transcend the components of building products and services. As part of this function, vendors and teams are managed, recruiting is conducted, financial management is handled, etc. In a business ecosystem, entrepreneurs become part of a network that only ceases to exist if the venture fails.

As appealing as it is to run your own business and be your own boss, it can also be daunting. Mentors have made a special appearance in the modern startup story and are as crucial as investors. The lion’s share of new entrepreneurs is making a run toward business consulting for startups because they seek to find wisdom and some much-needed perspectives from the people who have Been there and done that.

No matter how big of a unicorn you become, a little help and excellent advice at the right place during the right time can turn the tables. And that’s why mentors are the talk of the startup town. As a matter of fact, business consultants are now swiftly transitioning to the role of mentors. Even during the blockbuster years, their practical strategies act as a fail-proof method to succeed.

Mentorship that comes with innate leverage

The concept of ‘Mentor’ began to surface in the late 20th century when advocates for workplace equity introduced career mentorship. The idea became more prevailed by the mid-1990s. In this post-modern and post-pandemic eon, it is an indispensable factor behind a startup’s success, and there are reasons to back the claim.

A startup is a budding entrepreneur’s baby that nurtures into a distinct and separate identity called a brand when it has a pillar reinforcing its growth in the right dimensions and jumping over the pitfalls to eventually place the startup on the finishing line to become a unicorn and move over to play the level of Decacorn. Startups are like a slow-burn non-fictional accounts, where the beginning chapters point towards a predictable journey that seems innocuous. But as the story progresses, mistakes are made, and businesses hit a snag.

During those times, an advisor, consultant, or mentor navigates the ship back on track through a personalized set of the internal day-to-day mechanism to finally have a holistic impact on the larger picture. These advisors who assume the role of mentors may or may not choose to keep their stake in your potential idea. However, they strive and place assessments to accelerate the investments by optimizing the business model, the nuances of the product/service, and the finances.

A startup is a rigorous process of learning by doing, and the doing feels relatively easy when a mentor steady the focus and forms the core of a business before it is ready to take flight. Building a business is more than bringing your creative genius to the table or brilliant-technical capabilities. It knows the fundamentals even in the digital age, and that is precisely the job of a mentor. They fuel the business and teach the ways of forming a brand culture that becomes the brand sustenance factor at a later stage.

Mentors fill the void and bridge the gap between entrepreneurs and their marketplace. Once they enter, following the right lane comes instinctively.

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