Difference Between Advisors And Mentors In Startup Ecosystem
Advisers and Mentors in Startups:
Every new day brings a new person to me; there is demand outside where startup takes place. A startup is a Business relationship between finance, marketing, sales, and value-creation/delivery processes. A business relationship has mentors and advisors (field experience) moving focus on the difference between these confident personalities, where entrepreneurs should be mindful have benefited from each:
Who are these two different personas?
Mentors:
An auto-connected person who has his focus on you with your benefits thoroughly. Mentors are like people you turn to and they have their experiences. A mentor has achieved things that inspire you and you hope to achieve them someday yourself. As an entrepreneur you want to have them as people you turn to when you have to make massive life decisions like “Should I raise money?, Should I Start a company ? and more”.
The truth is you never ask a mentor to be a mentor. There are many people you meet with whom you find a connection, whenever you need to turn to them for kind of advice. Typically there is no need to pay a mentor, this mentorship is needed very occasionally, like two or three times a year whenever there is a critical decision.
Mentors are someone who offers their energy, bring out their vision, and gives their intuition to connected mentees. A mentor is a guide to a person who hires and they have to guide and support the mentee. In direct or indirect notion a mentor is an influencer to a mentee.
Advisors:
An advisor is somebody who has experience in an area that you aren’t sure about. For example, you are a stupendous marketer but you are not sure about the finance side, so you find an advisor who can help you with the financial aspects of the business. An advisor is a person who acts formally when it comes to working; typically these people have industrial knowledge that compensates their knowledge with the company’s equity by looking at the business growth that often happens.
They give their appointments for the reviews needed once or twice a month. They are somebody whom you can get help as investors, and business planners and to show other people that these are the advisors, and these people are supporting the vision.
An advisor has specific advice and feedback according to your exact question. A mind full of mess never gets correct advice from a professional advisor. Let the advisor get your exact question and then their feedback will be beneficial.
Why do we need the right advisor for growth?
As the business grows the requirements change, and we cannot expect to have all the skills and knowledge of the business.
And a growing business faces problems and new opportunities where the need for advice is a necessary part of it.
