Mentoring Women Founders in the 21st Century
AVF Principal Gauri Kuchhal sheds light on the importance of suitable mentorship
Reminiscing her start in the year 2008, Gauri speaks that, When I started my career in investment banking, it was a male-dominated industry. As the only female analyst in the firm, I did receive guidance from some quarters, but I struggled to find a really good mentor for that constant support. Many times, I yearned for that ace advice & guidance that would help me get better at my job, and in turn, grow and succeed as a professional.
On the plus side, my thoughts grew more independent by researching other people’s opinions and ideas. Leveraging a network of old-school friends was also an invaluable addition. Even though they were in completely different industries like fashion or teaching, but they were also experiencing similar difficulties. Connecting with those schoolmates to discuss and ideate on professional advancements was a real boost, and it helped me reach where I am today.
In later years, I realised that I was not alone, and things haven’t changed much for women. They were struggling with the problems I had experienced earlier in my career. So I decided to give something back to the community. I started helping women in general and specifically female founders in the startup space. This is how I got involved in mentoring women across several ecosystems.
What Mentoring Means to Me
Mentoring is not a methodical process, and a mentor is not someone who has all the answers. They are someone who can help others find the correct path to get the answers. It is more about support, and often, all that’s required is a gentle push in the right direction. Mentoring is a two-way process as I constantly learn so much from the startups I interact with daily.
For like-minded women wanting to make progress in male-dominated industries, I would recommend seeking out individuals, teams and environments where you can develop your projects and where your mistakes (there will be plenty!) are positive learning experiences. We need safe spaces because, let’s face it — the glass ceiling is for real and — Indian women across industries are constantly compared with their male colleagues. This can be tiring at best and, at worst, derail career ambitions.
Challenges Faced by Female Entrepreneurs
A common question by women entrepreneurs I interact with is whether they will get discounted as a female founder during an investment pitch and whether corporates prefer male founders. I tell them they should be themselves and remain confident; and that a great value proposition, market fit, business plan and passion, is what ultimately will sell you and your company. Also, do not over-apologise — I see that a lot. For example, when an investor spots a shortcoming in your pitch deck, it is no big deal — apologise and move on. Contrition could be interpreted as a sign of weakness — which it is not — and it is something many male founders would never dream of doing, so you shouldn’t either.
I’m so glad when the female founders I encounter remain motivated and persevere. It is how they continue to think big — something I encourage more women to do.
We, at Artha Venture Fund, are gender-agnostic when it comes to funding and capital. We’ve invested in nine companies to date, four of which have female founders or co-founders. That goes for our hiring policy too. We are recruiting analysts at the moment, and ideally, I’d like to see a 50:50 split between the sexes — such a change from my investment banking days! However, our selection is solely based on merit and what the incumbent brings to the table that will add value.
Startups Thrive On Feedback
The fledgeling companies I meet are often young, just out of university, and need lots of coaching on the basics like product-market fit, business planning, revenue/cost assumptions and their company’s trajectory. Even if we choose not to invest, we always give feedback. As an industry, we owe startups that. Who else can they approach for funding? How can they perfect their presentations? And most importantly, how can they handle rejection? Maybe that is not something they learn after a typical pitch, but I encounter their disappointments frequently in my mentoring capacity. As a startup, there is a lot of rejection. 99 out of 100 potential investors will say no. So, get feedback at every opportunity — from anyone and everyone you present to. Use the feedback to refine your value proposition, your funding approach, your business plan, or your pitch.
Source: Barclays.
