Why we do not mentor Start-ups
In the world of business support there are three basic stages:-
Thinking of starting a business, the first year, and ongoing
Each element is fundamentally different, and requires a different type of support.
Stage 1. When a person is thinking of starting a business it is a good idea to seek counsel to better understand the risk they may be about to take. Running a business is not a soft choice. It is difficult to make a decision on risk without knowing at least some of the roadblocks along the way. Motivation and tenacity are key elements here.
Stage 2. Once the decision is made, then it is useful to seek basic advice. How to prepare a business plan is perhaps the first thing because it is a real test of the clients understanding. The advisors job would be to challenge the plan. Further the client can gain an understanding generally on finance and marketing, for example how to do a cashflow, how to choose and accountant, what insurances are required, and market research, test marketing, know your competitors, know your USP.
Stage 3. After perhaps a year the client will have come to grips with the basics……and then the anxieties kick in. Have I made the best decisions? Should I have……? How can I build my customer base? How do I deal with staff? No one understands me!
The third stage is the realm of mentoring. All of our mentors have had years of experience of running a business which is an invaluable resource to those in the third stage.