“We make a living by what we get, but we make a life by what we give." Winston Churchill
Nine out of 10 startups will fail. Inc. states that 70% of the mentored business survive more than five years, whereas non-mentored small businesses have half success rate over that same period. Given the circumstances, efficient mentoring might actually contribute to your startup’s success more than anything else.
What is professional mentoring?
A mentor provides unbiased guidance for you and your team members. Thanks to years of experience, they’ll offer you support with strategic planning and pinpoint the critical issues to be addressed. If you’re looking for someone to pat you on the back, telling you how wonderful your idea is, try again! A mentor is someone who sees beyond words; who actually acknowledges your potential and trusts that you and only you, as a team, have the capacity to move things forward.
Mentoring comes with another important perk: the opportunity to build and grow your network. Mingling, getting yourself out there, sharing your idea and making your product visible is your top priority as a fresh startup founder.
“My job is not to be easy on people. My job is to take these great people we have and to push them and make them even better,” Steve Jobs
6 Reasons to Choose Mentoring @ Fabrica de Startups with Stewart Noakes
A seasoned entrepreneur Stewart enjoys working with entrepreneurs in the early stages of their startup journey. In his words, he “loves to help people find the opportunity to live their dreams." Interested in working with Stewart? Book your place and come by! Here’s what you’re in for when joining @FabStart mentoring program:
1. Obtain funding
When you ask founders what they need, most everyone will say “Money.” Being mentored comes with lots of benefits in that direction. Firstly, Stewart has been in the startup business for quite a while so he’ll coach you to get the insights about being investor-friendly. Secondly, you’ll meet @FabStart investors who are looking for startups to invest into. Searching for funding is one of those deals: you keep doing it until you make it. And your mentor will be there to make sure you integrate all pieces of feedback you get along the way
2. Get your product/service ready for the market
Making your product fit for the market might seem like a challenge. Just like finding financing. If you’re a startup founder you might already be accustomed to the “ordeals” of applying for funding. Good news! This process doesn’t have to be as difficult. On Mondays Stewart facilitates workshops designed for startups in early stages of development. Want to know more? Give it a read here (link article workshop).
3. Identify the weaknesses & critical aspects of your business model
Growth takes place there where your comfort zone ends. For a business to be successful it doesn’t have to be perfect. It just has to be based on a coherent story. Through mentoring, you get to explore the ins and outs of setting up a new business and “selling” it to your targets, be it possible investors, customers, media, etc. Get ready to answer some intriguing questions in an attempt to get you ready for playing big.
4. Gain ownership over your business
Mentoring is a process aimed to grow you personally so that you can better manage your startup. 90% of investors will not invest their money in a project, but in a person. If they trust you and resonate with what you have to say, that will make them decide to support you financially. While being mentored, you gather the idea that despite all the assistance that you get, you still need to put in the work. You are still the captain of your ship and you are fully responsible for sailing it there where you want it to be. Challenging? Might be! Exhilarating? Absolutely!
5. Attend FabStart events & expand your network
At Fabrica de Startups you will not only be accompanied by Stewart, you will also integrate a big and well-rounded community. Every week, there’s something happening @FabStart. Remember the opportunity of getting your feet into the water? This is it! Every single day you’ll have the possibility to put into practice what you got from your mentoring hours.
6. Motivate & help you keep focused
Last but not least, a mentor is a great source of inspiration and motivation. If you’ve ever started or created something, you know that you’ll have kicks of enthusiasm and also moments of disbelief. A mentor is also there to remind you of the reason why you chose to start this process in the first place and put you back on track.
If this sounds like something you’d be keen on doing, book your pack now or come for a free visit of Fábrica de Startups on Tuesdays.
Instead of good bye, see you later. Come cowork with us!