Aside from funding and external support, a lot of startups are now actively looking for mentorship programs and qualified mentors to assist them. Having experienced mentors by your side is a great way to boost your chances of succeeding on the market.
Having a mentor or mentors assisting you with your startup is an advantage that you don’t want to miss for many reasons. When you look deeper into the benefits your mentor brings, you will know that there are three ways mentors can help your startup scale better.
As you grow your operations and scale up, you will start facing challenges that you did not face in the previous stage of your business development. These new challenges are signs that you are on your way to reaching new heights.
Unfortunately, not all new challenges are as easy to solve as the ones you came across at the start of your company. They are naturally harder to solve, especially since you are relatively new to operating at this level.
This is where having an experienced mentor (or mentors) comes in handy. You can learn from the experience of your mentor for solutions. You can actually overcome new challenges you will face without the usual trials and errors with the help of a good mentor.
In an article titled “Mentoring: The Critical Role of a Mentor” on Menttium’s own website, Missy Chicre correctly says that one of the key skills that mentors bring to the table is better storytelling. With the wealth of experience that they have, mentors are great at telling stories of triumphs to mentees.
This storytelling capability is a great addition to the business too. Since mentors see things from a larger perspective, they can help you define better stories to tell the general audience and potential customers.
Instead of going with the same key messages you have been using in your marketing campaigns, you can work with your mentor in discovering new angles, new stories from within your operations, and new messages that the audience will love.
An Expanded Network.
Let’s not forget that mentors also bring their network of professionals and industry players to the table. A mentor with strong ties to key players in the industry is your most valuable asset. You can utilize the expanded network of your startup mentor in more ways than ever.
When developing a new product, for instance, you can turn to the network for manufacturing options, strategic partnerships, potential deals and business customers, and even testing channels. The network can also be useful for finding sources of funding, both short-term and long-term.
A simple referral to vendors that offer great prices to larger corporations can save your startup millions in raw material and manufacturing costs. One phone call can place your product in millions of offline and online stores around the world. Yes, a mentor can be that powerful. That is exactly why you need to be extra careful when choosing a mentor or mentors for your startup.
Find mentors that are passionate about helping your business and you can be the next big hit in the startup world.