Five reasons why a mentor is necessary for an entrepreneur

Many individuals perceive that only passion can drive them to become successful entrepreneurs, which is true but not sufficient. An aspiring entrepreneur is unaware of the problems ahead and does not know how to dodge them effectively, which is why we need mentors. 

Helps you accomplish your goals 

The mentor can help an aspiring entrepreneur stay focussed on the goals and makes one accountable for the vision of your business. A mentor guides an entrepreneur in making new strategies in achieving new targets and helps in developing a business or marketing plan. Neeraj under former coach Klaus- a bio-mechanic expert trained him to maintain the right body form and technique. Be it shot put, discus, or hammer throw, knowing bio-mechanics is crucial, without which an athlete might injure oneself.  

Gain experience from mentor’s challenges

A mentor who has made mistakes or countered challenges, but was not able to avoid or overcome them due to lack of skills adds to the experience and learning. Now, that the person is a mentor, can provide guidance to the individual for devising out strategies and plans to avoid such mistakes in the first place itself and if faced, the individual will now be well-equipped and moulded to tackle it. This is something that cannot be taught from books. 

Networking opportunities 

Start-ups and small businesses for early-stage funding become easier when they are recommended by their mentor as they gain the trust of investors. A good mentor has unlimited network contacts of investors and venture capitalists. Since mentors are already investing their time and energy in training you, they can help your business make in-roads in the investor’s community. This is an opportunity one cannot tap into if one does not have a mentor.

Fuels positivity and encouragement 

Failure is part and parcel of both sports and business. Lack of proper encouragement and a positive mindset tend to impede productivity. A mentor who has experienced the same highs and lows in running a business can fuel positivity and soothe your mind with words of motivation. In Mahabharata, when Arjuna was required to battle with his teacher, grandfather, and cousins, Krishna became his mentor to guide him about fulfilling his duties. 

Helps to build a stronger emotional quotient 

In sports, coaches guide their players to regulate their emotions during critical stages of the game by employing strategies to remain in control. Similarly, a mentor for an aspiring entrepreneur helps build high emotional intelligence leveraging which they develop qualities of empathy, problem-solving, and social skills to come up with solutions, create strong relationships, and win people over.

What does Sequoia Spark Fellowship Entail? 

Upon selection, the entrepreneurs will be mentored by Sequoia India specialists on a 1:1 interaction basis on diverse domains of marketing, product, technology, hiring, etc. The duration of the mentorship programme is of 12 months where entrepreneurs will also receive guidance on improving the product and business model. At the end of 12 months, participants can stay connected to the Sequoia Spark network to attend events, and benefit from peer learning.

The Spark fellowship programme will consist of below sessions and events: 

• Spark Talks: Conducting monthly series of webinars with inspiring women in leadership roles across the globe. 

• Spark Studios: Women entrepreneurs will have small-group sessions with Sequoia India specialists who will offer practical advice across hiring, legal, finance, product, technology, finance, and marketing.

• Spark Coffee Chats: Team members of Sequoia India and Southeast Asia investment advisory will spend over 250 hours per year for one-on-one ‘coffee chat’ sessions with female founders on crucial business issues. These sessions will be conducted over Zoom. 

Application process for the fellowship 

The interested participants need to fill up a form that will take approximately 20 min to complete. The first Spark Fellowship program launches in November 2021. The last date of submitting applications is 15 September 2021.

What lies ahead for the women entrepreneurial community with such programmes?

In the current times of the pandemic, where MSMEs and start-ups are already reeling under lack of funds and revenues, nurturing the environment for female entrepreneurship is the need of the hour. According to the joint report of Google and Bain &Company, female entrepreneurship has the potential to create 150-170 million jobs in India by 2030 if more supportive schemes are launched.