The role of a mentor in the journey of an innovator and a start-up
At every stage of life, we find a person who walks with us through the journey, teaching us the correct way towards a harmonious and successful life. In a startup, founders need a person who can influence the decision making and provide proper guidance to make the business prosper.
One thing most successful entrepreneurs have in common: is their willingness to be guided by mentors. Even the most successful entrepreneurs like Jeff Bezos, Steve Jobs, and Larry Page accepted guidance and help from mentors. A reliable mentor will prove to be a benefit in business.
This mentor provides the startup with the knowledge to take the first steps and become better. This person is ready to devote their time and expertise to develop the business and the entrepreneur.
Having a mentor can benefit the founder of a startup in many ways. As mentioned, they can be the source of knowledge and wisdom to help make decisions.
A founder can be incredibly smart and start a great business from scratch with a brilliant concept, but to become better, they’ll need at least one good mentor.
This idea must have crossed someone’s mind earlier, and maybe their approach was different, but to become successful and overcome difficulties, some learning is required for the startup to head in the right direction.
Mentors act as a generator for a startup, and they are the manual that tells how to move forward and build the business.
How can this mentor help in growing a business with their experience?
- Their experience also brings a reputation to the business. They provide credibility.
- Provide resolutions to problems with strategic and functional inclination.
- They also might provide financial support.
- At times it becomes challenging to handle rough situations. They might provide the founders; its members with the necessary motivation.
- Help with professionalism while hiring talent and building the management culture in the startup.
The relationship between a mentor and the mentee (founder) greatly impacts how the mentorship will turn out. Both parties invest trust and effort. Having unrealistic expectations from the mentor (like they’ll remove all the obstacles magically) will only lead to disappointment. Expecting the mentor to remove all the obstacles is unrealistic. Their advice will be helpful if taken adequately and implemented correctly. The mentee should be willing to listen to their mentor and make sure to implement the necessary steps.
The founder must be honest about their expectations from the mentor. They should accept the negatives and positives of the business. They should be honest about their flaws and fears so the mentor will provide proper guidance to overcome them. They should also let the mentor know what they wish to achieve by growing the business. It’ll help the mentor to understand the expectations and what can be done to achieve them.
Finding the right mentor to escalate your business can be a difficult task. You might find it difficult when you look around for one. But do not worry, as BCOC is here to end your hunt for the right mentor.
The Big Idea Summit (TBIS) is an event organized by BCOC. This is India’s first non-profit platform connecting innovators and startups with subject matter experts, angel investors, and leading mentors globally.
The event will also have knowledge seminars, mentor support (pre & post event), and investor pitch sessions to secure funding to develop working prototypes of their innovative ideas/products and become a commercial success.
If you have an innovative idea but need mentorship support to turn it into a prototype, then register at https://www.bcoc.in.