How a startup can grow using a powerful tool Mentoring?

Photo by Olena Sergienko on Unsplash

Are you facing challenges in getting funding? Do you face difficulty in pitching? Then this is the time to consider the most powerful tool for growth i.e. Mentoring.

To understand this let us first understand why most of the startups fail. Solving customer’s problems gives birth to a startup but what if there is a solution but the problem is not there, this happens when startups create a product but there is no need for the product in the market. Similarly, if a startup creates a product that is not useful for the current market or may be useful in the future as there is no market for the product is also a reason why startups fail.

Some reasons for the failure of Startups:

For overcoming all the issues and difficulties Mentoring can be really helpful. Studies have shown that mentoring can lead to greater career success, including promotions, raises, and increased opportunities. Organizations that embrace mentoring are rewarded with higher levels of employee engagement, retention, and knowledge sharing. In fact, mentoring has proved so beneficial than 71% of Fortune 500 companies offer mentoring programs to their employees.

While these statistics look pleasing and encouraging, it’s important to remember that mentoring is not a magic wand that automatically creates success. The truth is that effective mentoring takes effort, and creating successful mentoring relationships requires specific skills, sensibilities, and structure from both the mentor and the mentee. Success happens when both parties take responsibility for making it work.

We know that the Microsoft founder Bill Gates has often said famed investor Warren Buffet is his adviser when it comes to ideas and investments, apart from being a close friend. Gates has said Buffett asked him a number of tough questions in the early years of Microsoft, which helped him build the company into the tech giant it became.

Apart from strategy building, a mentor can help you in the following ways:

Do you have one? Are you struggling? Need one to boost your startup?

Then we are here for you.

EdifyAccelerators is a Management Consulting firm. We provide Management Consulting, Business Consulting, Business Strategy, and Growth for MSMEs, SEMs, and Startups.

Our Services Include:

For Further Information You can contact:

Edify Accelerators

+91–9742204653

References:

Written this blog as an intern for Edify Accelerators.

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Himanshu Sharma

I write about my learnings in the field of Data Science, Visualization, Artificial Intelligence, etc.| Linkedin: https://www.linkedin.com/in/himanshusharmads/