For the purposes of this platform, a Mentor is somebody who is experienced in the startup ecosystem and is willing to provide their time to help, guide and support a Founder/Inventor. The main role of the Mentor is to steer the Founder/Inventors away from novice mistakes, one of which is looking for funding and investment before having validated a market-fit. Pre-orders is one of the best pieces of validation data. In most cases, investors will not invest in an idea, even if a product has been built until they see market-fit data. We strongly advise Mentors to focus the Founder/Inventors on market-fit and not investment pre-launch. Mentors are here to advise and steer, not to invest in a Founder/Inventors idea.
Mentors are expected to give their time and wisdom to Founder/Inventors of their choice. A little goodwill is required but if a Founder/Inventors requirements become onerous then a Mentor should either charge for the extra time needed, using the Credits System on this platform, exchange it for equity or let the Founder/Inventors know that they do not have any more available time and would like to terminate the mentorship.
Mentors benefit primarily from the societal impact of their goodwill in helping novice founders launch a business. We have put in place a mechanism for Mentors to charge Founder/Inventors using a Credits System we are trialing but the primary benefit for a Mentor is putting something back. Mentors are free to negotiate equity arrangements outside of this platform.
Mentors need a track record in either starting a businesses or in a particular aspect of starting a business such as marketing or finance. Common sense is as important as experience. If you need help with mentoring or would like to go on a Foundation Course, please contact us as we are here to support you in delivering successful startup launches.We also run a Mentoring for Startups Foundation Course to help mentors with this ecosystem and on completion provide them with a certification and access to our Mentors Community. For more information, contact firstname.lastname@example.org