How to create deep mentoring relationships
Chicago One of the most frequent queries raised by startup entrepreneurs at The Hatchery’s food company incubator is “Where do I begin?” It is difficult to answer this deceptively complex issue given the amount of information available to entrepreneurs. Asking the appropriate questions of the right people will help you find the answers. Establishing a reliable network of advisors at an early stage is crucial for this reason. Startups must first determine their needs before pursuing a focused and one-on-one approach to engaging with possible mentors in order to build a robust advising network.
New brands frequently approach advisors before realizing what kind of support they require. Instead, Jeni Britton Bauer, the creator and chief creative officer of, advised businesses to first define their brand’s goal and who they want to be.
“People will find the answers to ninety-nine percent of the questions they ask on their own,” the speaker stated.
Through self-guided growth, businesses may better articulate their difficulties and capabilities, gain the trust of mentors, and ask focused, focused questions.
Entrepreneurs with confidence should seek out advisors who provide frank comments in addition to idea validation. For new companies, looking for the stereotypical older, wiser mentor may not be the ideal option because peers at similar stages of development can offer more guidance and assistance. According to Ms. Britton Bauer, reaching too high above your level won’t result in engagement because established companies could not understand the needs of a startup.
Entrepreneurs must have faith in their advisors, regardless of where they receive their advice. Founders may find it difficult to make this mindset shift since they are wired to defend their idea.
CEO of Mush Overnight Oats Ashley Thompson stated, “A lot of entrepreneurs are highly skeptical of sharing information.”
To get precise advice, however, companies must provide all relevant information and the background surrounding their difficulties. Known investors and “Shark Tank” judge Mark Cuban, along with RXBAR co-founder Peter Rahal, are among Ms. Thompson’s advisors. They all provide distinct instruction, yet they all communicate in terms of the same values.
You may also like:
Food security in emerging nations: issues and remedies
Are drinks the secret to increasing cannabis use among consumers?
Managing the lack of labour for mushroom picking
Assistance should also be sought for in both directions. Lisa Curtis is the co-founder and CEO of the superfood brand Kuli Kuli. She advised bright entrepreneurs to approach people with something to offer rather than approaching possible mentors at trade fairs or sending out “I’d like to add you to my network” messages. For a company she respected, Ms. Curtis “performed pro bono consulting, competitive landscapes, and store audits”; in exchange, she was given insightful mentoring.
Industry leaders have more to offer in terms of resources because they have access to audiences, data, and retailers. “The gate to these resources shouldn’t only swing one way,” Ms. Curtis stated, in order to prevent entrepreneurs from becoming lost. Small brands ought to have autonomy but also have access to the resources of larger brands.
Being the first founder to receive money from 1894 Capital, Kellogg’s venture arm, Ms. Curtis is aware that mentors gain from offering advice to businesses.
Ms. Thompson said, “You can learn so much from the beginner’s mindset that you lose over time.”
All brands must adapt to the shifting needs and habits of consumers in our ever changing industry. In the end, a successful advisory relationship is dependent on a personal connection, calibrated guidance, and trust.
Ms. Britton Bauer advised, “You need to find someone who’s devoted to you,” whether it be a hired professional, a colleague, or leaders in other industries. However, excellent counsel and mentoring are inherently subjective. Startups should develop their sense of entrepreneurship and, most importantly, follow their instincts.