Providing Mentorship to Startups

Angel groups are often asked to provide mentorship to startups.

Here are some best practices for engaging your angel investors into mentorships with startups:

Start by matching the investor with the startup based on the business model, sector, and stage of business.

Identify a specific challenge the company is facing and look for members who have experience in that area.

Introduce the investor and the startup and check to see if it’s a good match.

Is the startup ready for a mentor and interested in solving the problem?

Is the mentor able to help the startup?

Help define the mentor/mentee engagement, so it’s well defined and has an endpoint.

Identify a schedule and format. Is it a weekly call on Tuesday or a monthly lunch on the first Friday?

Track progress to make sure it’s working.

Relationship building is a key step to achieving progress.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Disclaimer:
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.