Do you need a startup mentor?
The nature of being an entrepreneur often means that you are a "do-it-yourself" kind of person. While that kind of confidence and hustle is admirable, it can also get in the way of your startup's growth and success.
There are a couple of reasons why a loner attitude can cost you. First, if you are running a high-growth startup then it is unrealistic to think that you can manage every role. Secondly, it is also unrealistic to believe that you have every skill set necessary. Finally, investors tend to base a large amount of their decision to invest in the team. No team can equal no investment.
In some instances, a startup mentor can help fill some of the gaps. So, just in case you do have it all figured out, here are three reasons you don't need a startup mentor.
3 reasons you don't need a startup mentor
Reason #1 - You've "been there before"
If you are one of the few startup founders that already has a successful startup track record then you may not need a startup mentor. Notice that I say a successful track record. Being a "serial entrepreneur" doesn't count. Sure you can learn a lot from your failures. I know, because I have been there and even wrote about all the things I learned from my first startup experience. But if you plan to avoid taking on a mentor you had better have enough of your own successful experiences to pull from.
Reason #2 - You aren't coachable
I have seen plenty of entrepreneurs who will ask people for advice and then never bother heeding that advice. Even when the advice comes from a very credible source. So, if you are the type person who just doesn't take criticism and direction well, you may not need a mentor.
Reason #3 - You can't afford it
There is some good news about mentors. Often times they won't cost you a thing. Why would someone mentor you for free? Because they were once in your position and like helping people. But even if your mentor comes in the form of a paid coach, whether through cash or equity, it's worth the expense. Assuming you get the right mentor.
Now it's your turn. Have you had a startup mentor before? How did it go? How did you meet and select them? If don't plan to use a mentor, why not?