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Why Is A Mentor Important For Startups?

Harry Potter had Dumbledore. Aladdin has the Genie. Mark Zuckerberg had Steve Jobs, and Bill Gates had Warren Buffet.

The idea of mentorship is definitely not new.

As an early stage startup founder, you could have the most brilliant idea, but without the right guidance in your decision making process, your ideas might just be an idea.

This is where a mentor comes in. That one person to help you survive and thrive. Perhaps, you are wondering: Do you really need a mentor? Well, let’s find out below:What is a startup mentor?

What is a startup mentor?

A mentor is an experienced entrepreneur or industry expert willing to guide first-time founders by sharing lessons and advice from their own experience. Mentors will influence and direct you on ways to build and grow your early-stage startup, preventing you from making mistakes.  

However, mentorship is a two-way street. It is not just about having someone give you advice. It is also about being open to learning and being challenged. The best mentoring relationships are based on trust, mutual respect, and a shared commitment to each other’s success.

Why do early-stage startup founders need a mentor?

They’ll guide you in the right direction
A good mentor saves a lot of your time by helping you in the right direction from the very beginning of your startup. For example, if you are unsure of how to scale your idea or which goal to prioritize, your mentor can step in to help. They are well versed in thinking lean and will be able to share possible solutions and/or various approaches to reaching your goals.
They’ll challenge you

It is common for early-stage startup founders to live in their minds. You get emotionally attached to the idea and may not see things objectively. The best mentors are going to challenge your assumptions by asking you to think in new ways. All with the goal of building a resilient and entrepreneurial mindset in the early stages.

They’ll support and motivate you

Unlike most people in your life, mentors are aware of the challenges faced by you as an early-stage startup. Long working hours, sacrificing time with loved ones, and trying to make sense of each hurdle along the way can be discouraging. This is why you need a reliable person to motivate you and even push you forward when necessary.

They’ll open new doors to opportunities

As an early-stage startup founder, you’ll need to build as many professional networks as possible. This is easier to do with a mentor by your side. They’ll help you connect with like-minded people – who could be investors, customers, partners, or even potential employees.

Along the way, they will help you polish your interpersonal skills, which are essential during these networking opportunities. Just remember that you need to demonstrate your potential and your chances of success for your mentor to go above and beyond for you.

They’ll bring credibility and good reputation

Investors are more likely to work with those who have a credible and reputable mentor. Imagine if Richard Branson, the founder of Virgin Group, were your mentor. You’ll gain the trust of investors because there is a renowned entrepreneur who believes in your idea.

How do you find the right mentor for your early-stage startup?

From accelerators and incubator programs to networking events, industry conferences, and online communities, there are many ways to find potential mentors. You can also reach out to them on LinkedIn.

If you have an idea or are in the early stages of growing your startup, join our Alpha Startups™ Pre-Accelerator programme. The programme is explicitly designed to fuel your startup’s growth and help you achieve your dreams!

Applications for the next cohort are open. Pre-register now, https://1337.ventures/alpha-startups/pre-register/

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