Starting a company? Find your mentors.
Whether you’re just entering the industry or breaking into a new market, mentors can make all the difference.
Last week, I visited The Port coworking space in downtown Oakland to talk to JD Margulici from Infinite Uptime about his experiences as a founder at Cal. In the half-hour conversation we talked about finding cofounders, startup accelerators, and how ideas change as companies grow. But one of the last things we talked about left an impression on me — mentors and advisers.
In the startup world, we have a tendency to learn the things that successful founders do, and emulate them in our work, from methodologies to metrics to management tricks. But when it comes to finding great mentors and advisors, for some reason, first-time founders seem to think less of it than they should. I think, especially for first-time founders and technical founders, having experienced mentors that can guide you through a startup’s industry and progress can be a key to success.
Who do I look for?
When I asked Infinite Uptime’s JD about mentors he found most helpful, he pointed to mentors’ ability to help you navigate a new industry.
Especially for technical founders, if you’re starting on a new idea, then you’re going to be selling to a new market. You need to acquaint yourself with the market and find your mentors there; that’s probably the biggest help you can get. — JD
Specifically for founders, this is one solid benefit you can get from mentors and advisers. Like a lot of technical founders, you may come from a computer science or engineering background, but the problem domains that you as a founder enter with your product is going to be completely new to your past experiences. And finding a mentor who has experience in that field, and is willing to give you pointers that help navigate a new industry, is a substantial benefit.
Of course, mentors can be helpful at a more general level, to help you navigate your careers or make challenging decisions. Growing a startup is a cascade of important decisions — decisions on what to prioritize and what to shelve for later, decisions on where to invest more time, decisions on which customers to sell to, and decisions on contracts and partnerships. And having someone willing to guide you through the process of decision-making with the hindsight of been-there-done-that is immensely helpful. Whether your mentor is a veteran in the industry or an experienced entrepreneur from a different domain, they bring valuable hindsight and insight into these decision-making moments.
And lastly, even if mentors can’t directly give you actionable advice based on experience or knowledge in the industry, many of them can direct you to founders, engineers, or investors they know who have gone through situations and problems you may be facing. Being able to find and connect with new people in your field isn’t a benefit exclusive to mentors, but because mentors and advisers have already formed relationships through their previous ventures and work, they’re a great place to see if you can find new faces that you’d want to talk to.
There’s plenty of experienced industry people that are very excited to provide a little bit of time for mentoring or advising startups.
How do I reach out?
Having tried to built a partner-finding site myself, it really does seem like half the battle is asking. Especially around universities like Cal with lots of researchers and entrepreneurs with industry experience, there are experienced entrepreneurs seeking out opportunities to help students gain experience or help founders enter new industries. Just on BearX, there are almost 100 Cal students and alumni looking to mentor and advise startups!
You pick up your phone, go to conferences, go to BearX… People are excited about new projects, ideas, innovation. There’s plenty of experienced industry people that are very excited to provide a little bit of time for mentoring or advising startups. — JD
Another tip to keep in mind when talking to potential mentors is to give before you ask. Read up on what they’re doing today and what they’ve worked on, and see if there’s anything you can do or anyone you know that might be helpful to them. Be interested in what they’re thinking about and what they’ve done, and see how their interests might fit into problems you’re solving or challenges you’re facing. A little golden rule goes a long way towards making these relationships last for more than a one-time coffee chat.
Are you working on a new company or just looking for a mentor to help you enter a new industry? Find events on Facebook and Eventbrite. Join some local organizations. See if you can find people with experience in the things you want to pursue, and go talk to them. Send them an email (and follow up!) and see who you can help, and who you can learn from.
Mentors are all around you. It’s not necessarily your boss or even someone in your business. Mentoring is a nonhierarchical activity that transcends careers and can cross all organizational levels. — Keith Ferrazzi
And if you’re a Cal student, founder, or alum, come join us at BearX to connect with almost 100 mentors and advisers and 2000 students and entrepreneurs on campus. We make it simple and straightforward — search through people on BearX to find mentors in your industry or field, and send them a quick message! It’s free to use, and we’re here at BearX to help you move forward, no matter your next idea.
