Tuesday, March 12, 2013

What is a startup mentor?

A startup mentor is a person that gives their time and knowledge to a startup with the sole purpose of improving the startup community and the greater entrepreneurial ecosystem.  A startup mentor doesn't have a contractual obligation to the startup to provide the service and has every right to end the relationship if the value proposition is not significant.  

I don't think there is a shortage of potential or prospective startup mentors.  I do believe there is a shortage of active mentors.  I believe much is lost for want of asking.  I believe many successful business people would be eager to serve as startup mentors if they were simply asked.  There is a way to create events within a startup community that would increase participation from experienced entrepreneurs and help them learn how their expertise is a critical need for economic development.  

People sometimes consider the lines between mentors, advisors, and investors to be blurry.  I think anyone with money and connections can become an investor.  Anyone with connections can become an advisor.  But the real value proposition needed to build a thriving startup community is found in bringing a large number of startup mentors to the table.  These are people that aren't asking for an equity stake in exchange for money or knowledge.  These are people eager to give back to the community.  People that take pride in their town and want to see others succeed.  A great startup mentor answers the call and aligns themselves with entrepreneurs that see a ton of value in the mentor's past experiences.  A great mentorship doesn't need to take up a lot of time and will put the shared knowledge to practical use.  

We can do a lot in this world and most of us know we can't do it alone.  

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