Fri, 12 November 2021
Providing Mentorship to Startups
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Angel groups are often asked to provide mentorship to startups.
Here are some best practices for engaging your angel investors into mentorships with startups.
Start by matching the investor with the startup based on the business model, sector, and stage of business.
Identify a specific challenge the company is facing and look for members who have experience in that area.
Introduce the investor and the startup and check to see if it’s a good match.
Is the startup ready for a mentor and interested in solving the problem?
Is the mentor able to help the startup?
Help define the mentor/mentee engagement, so it’s well defined and has an endpoint.
Identify a schedule and format. Is it a weekly call on Tuesday or a monthly lunch on the first Friday?
Track progress to make sure it’s working.
Relationship building is a key step to achieving progress.
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