Having a spectacular idea and a zeal to achieve success are the perfect ingredients to build a successful startup. But, often sometimes during the process we lose track and need expert help to guide us through the troubling times.
Most of the startups nowadays have big names from the industry as their official mentors as they understand the need of a sound and experienced mind in the initial years of building their businesses. But, the catch that most of the startups face is finding these mentors who will hold their hands from the setting up stage to the traction stage and finally, the funding stage.
Currently holding the third largest startup hub position in the world, the Indian startup industry is churning unique startups at an unprecedented rate, the only problem being, only a few of them are able to survive the initial litmus test and go all the way to become a success. This failure rate is mainly high among startups lacking any expert backing whatsoever.
Startups are now preferring successful people for mentoring rather than mere consultants. Those training include National Entrepreneurship Network (NEN), TiE, and Nasscom.
This high rise in the demand for mentorship in the startup industry has also given birth to private mentoring firms like AskMentor and Instaura Consulting etc.
The mentors are known to actively help the entrepreneurs with various tasks like planning, getting traction and also getting in touch with various investors for funding purposes. Some of them even help the entrepreneurs in getting the perfect co-founder for their startups.