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Why is a Mentor Important for a Startup?

  • 22nd Jun'21

The world is ripe with entrepreneurs. Every year hundreds of youngsters join the growing startup ecosystem. Many greenlight their startups with new ideas for products and services and with investors no longer an issue. Still, despite brilliant products and good ideas, only a few survive to post their beginning year of the startup.

Any idea why that happened? Why do most startups fail irrespective of the quality of their product? The answer is Experience.

 

Startups Need Experience

You see, most startups are run by young and relatively inexperienced young men and women. The startup promoters usually focus on the ideas or the product behind them. However, running a company needs Experience.

It takes someone with the ability and bits of knowledge to deal with government issues related to the business. Also, it takes Experience to handle the ups and downs properly and tell the right from wrongs. And this is where having a business mentor is essential.

 

Why a Mentor is Important?

Mentors are experienced people who are well aware of the ebbs and flows of the business world. They are capable individuals who can support and guide the youngsters. They help them establish a balanced ecosystem for startups to survive without dealing with lots of issues. They further help solidify a startup's success path by setting up a goal and providing timely feedback.

Mentors can even help with critical issues such as getting approval from the required government authorities and handling legalities. In addition, they can even help with recruiting individuals with specific skills that may benefit your startup. Besides, you can always look up to them for motivation and challenges whenever required. And more importantly, you can focus more on developing your ideas without getting distracted now and then. So, understand the value of mentorship.

Today, there are even mentorship programs. Therefore, a young entrepreneur can join it and gain the needed experiences from the different mentors, as explained in this article.

 

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Shellye Archambeau is determined to help you with all possible strategies to climb the ladder of success. She values your feedback. Do mention them in the comment section below.

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