Following through from my previous column on mentorship for startups, here are a few more things a founder should keep in mind before finalising a mentor:
Sounding board: A key responsibility of a mentor is to be a good sounding board. Entrepreneurs will keep coming up with ideas, some brilliant and some wild. The mentor should be able to objectively dissect each idea, discuss the pros and cons, and make honest recommendations for the founder to think about and decide.
Alignment of values: A founder’s personal values drive and build the culture of a startup. A good mentor must be able to carefully nudge the culture and values in the right direction, especially because several early-stage but well-funded startups are known to have toxic cultures, thanks to hyper-aggressive founders.
Personal growth: Great mentors should be able to play a dual role — helping a founder with strategy; and becoming a personal coach to help the founder grow as a person and a leader. Most first-generation entrepreneurs are young folks and need help in this area.
High integrity: This is my personal favourite. Entrepreneurs, under severe peer and investor pressure, may tend to look for shortcuts on their way to success. The mentor must necessarily hold high standards of personal integrity. When a founder is trying to stray from the straight and honest path, a mentor must step in and firmly point out that ‘winning at any cost’ is not a real win.
Emotional rock: In early-stage startups, 360 out of 365 days in a year will suck. Entrepreneurship is hard work and tough times can pull a founder down mentally. At such times, a mentor must be the emotional rock to help the entrepreneur navigate stressful moments and pull through safely.
Long-term perspective: Building a solid, sustainable venture from scratch is like playing a Test match. Several founders launch their venture with the objective of creating some quick wealth, as if entrepreneurship is a T20 game. Mentors must guide founders to focus on the long-term perspective even at the cost of short-term gains.
Enthusiasm for mentorship: Last, but certainly not the least, make sure the mentor is keen on helping. For many experienced folks, mentorship is a fad. Founders must make sure their mentors are truly enthusiastic about the role, rather than doing it because it is the in-thing.
The relationship with a mentor is crucial; so it is important for founders to invest time to find the right fit. It’s not just about finding someone successful — it’s about finding someone who’s truly committed to helping you grow as a person and succeed with the business.
(The writer is a serial entrepreneur and best-selling author of the book ‘Failing to Succeed’; posts on X @vaitheek)
Rewrite this news article and keep the same structure, information and length.
