Mentorship Guide for Startup Founders
Starting a business can be an overwhelming experience, especially for first-time startup founders. There are so many things to consider, from developing a solid business plan to securing funding and navigating the challenges of entrepreneurship. It’s no wonder that many startup founders struggle to find their footing. That’s where having a mentor can be a game-changer.
Here’s a Mentorship Guide for Startup Founders — because mentoring is a critical factor in any startup’s success 💡🚀
You’ve probably never heard of Mike Markkula — but everyone knows Steve Jobs. Well, Mike was his mentor — and Apple’s success is at least partly due to Mike’s mentoring.
Startup mentor is a person that provides invaluable coaching and guidance to a startup. Founders in order to convert your ideas into a living, breathing business organism, you need to find the right mentors.
Every successful person wants to Send The Elevator Back Down — Startup Founders it's your job to help them that Why It Matters To Keep Doing It. Dear Startup Founders — you have to Establish yourself as a resourceful, likable & coachable person 👨💼👩💼in order to get maximum help from your mentor.
Let’s Prepare to Accelerate 🚀
🛗 10 second One-Sentence Pitch
🚀 30 second Elevator Pitch
📈 10 Slides Pitch Deck
👩🏫 One-Page Business Plan
📝 30–60–90 Days Plan
#NICAT is organizing the first Industrial Meetup Gala to bring 50+ Mentors to guide Cohort-1 Startups. It’s important for Startup Founders to establish themselves as a resourceful, likable & coachable person.
Here’s a Quick Guide for getting the best help from your mentors!
🛗 10 second One-Sentence Pitch
[Tip] use Why-What-How Framework or Golden Circle model by Simon Sinek to craft One-Sentence Pitch. Sell your Why first!
“My startup [company], is building [defined offering] to help [customer segment] [solve a problem] with [your innovation].”
🚀 30 second Elevator Pitch
[Tip] use Market Size-Innovation-Progress-Vision Framework
1️⃣ Problem/Market Size (Millions of $$ or Lives impacted)
2️⃣ Your Innovation (Ability to solve)
3️⃣ Your Progress (Demonstrate tangibles)
4️⃣ Where you want to be: Vision (Show your ambitions)
📈 10 Slides Pitch Deck
We recommend: Problem, Solution, Business Model, Market Size, GoTo Market, Competition, Team, Financials, Milestones & Funding Ask
Two resources to help with this:
1️⃣ https://jattala.medium.com/how-to-write-a-500-word-business-plan-6dfa8c319d79
2️⃣ https://mattybrownell.medium.com/pitch-decks-are-ugly-i-made-a-free-tool-to-make-yours-shine-6b0f6a20283b
👩🏫 One-Page Business Plan
10 Slides Pitch Deck will lead you to One-Page Business Plan: https://jattala.medium.com/how-to-write-a-500-word-business-plan-6dfa8c319d79
If you are new to Business Models, this 20mins 📺 can change your life.
Getting From Business Idea to Business Model: https://www.entrepreneurship.org/learning-paths/business-model-canvas/episode-1-getting-from-business-idea-to-business-model
📝 30–60–90 Days Plan
“How can you achieve your 10 year plan in the next 6 months?” — Peter Thiel
1️⃣ You can Set and Achieve Any Goal
2️⃣ Make a Plan: Set a Deadline & KPIs
3️⃣ Seek Mentorship for your Challenges
4️⃣ Deep Work: distraction-free concentration for #20XLife
Here’s my Ultimate Focus Cheat-Sheet for #20XLife
https://jattala.medium.com/the-ultimate-focus-cheat-sheet-for-20xlife-60f66a5d2eae
The Importance of Mentorship for Startup Success
In conclusion, mentorship can be a game-changer for startup founders. A mentor can provide invaluable insights, share their experiences, and offer guidance on everything from marketing strategies to hiring the right team. They can help you avoid common pitfalls and make better decisions. A mentor can also be a sounding board for your ideas and provide feedback on your progress.
With the right mentor, you can accelerate your learning curve, build your network, and navigate the ups and downs of entrepreneurship with confidence and support.
Join us and be part of largest Innovation Community in Pakistan:
🌐 www.NICAT.pk | 📧 info@NICAT.pk | 📱fb.com/NICATPakistan
📱 linkedin.com/company/NICATPakistan | 📱 twitter.com/NICATPakistan
About the Author: Imran Jattala is Project Director, National Incubation Center for Aerospace Technologies (NICAT). He tweets at: ImJattala
