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Habits Of Effectual Mentors
Bangalore: Mentors are essential for startup success. There are innumerable people hailing the benefits of mentors. Startup mentors just have a single goal ahead of them, to help the fledging startup reach the heights of success within a short span of time. The company can consider having a mentor on board who does not have a personal tie with the founder unless that mentor has a unique skill set. He has the right to make changes in the roadmap and communicates with the entrepreneur using some easy tools. Having a mentor who is experienced and who has started and built a profitable company from scratch is by far the most cost effective and sensible investment all start up entrepreneurs should be making.
Focus On Startup’s Biggest Risks
Getting the team to work on listing the biggest risk the startup can face would be a great start. Get to know their assumptions for each. The key is making sure the team is looking across all aspects of the business. Working from the business model canvas, you will identify the biggest risks in the plan; you should prioritize them and lay out a plan and timeline for de-risking them. When a perfect solution is put forth for the highlighted risk, consider to check the technical risks to creating the solution.
