How do you evaluate the value of your startup mentorship?

1 Define your goals

Before you seek mentorship, you need to have a clear idea of what you want to achieve with your startup and how you plan to get there. Your goals should be specific, measurable, achievable, relevant, and time-bound (SMART). This will help you identify the gaps in your knowledge, skills, and network that you need to fill with mentorship. It will also help you communicate your expectations and needs to your potential mentors and align them with your vision.

2 Choose your mentors wisely

Not all mentors are created equal. You need to find mentors who have relevant experience, expertise, and connections in your industry, market, and stage of development. You also need to find mentors who have a genuine interest in your startup, who can offer honest and constructive feedback, and who can challenge and inspire you. You can use various platforms and programs to connect with potential mentors, such as accelerators, incubators, online communities, events, and referrals. But don't rely on one source or one mentor. Seek multiple perspectives and opinions from different mentors who can complement each other and provide different insights.

3 Establish a relationship

Once you have identified your mentors, you need to build a trust-based and mutually beneficial relationship with them. You need to respect their time and availability, and set clear expectations and boundaries for the mentorship. You also need to communicate regularly and effectively, and share your progress, challenges, and feedback. You need to listen actively and attentively to their advice, and ask relevant and thoughtful questions. You also need to show appreciation and gratitude for their support, and reciprocate by offering your own value and expertise when possible.

5 Adapt and improve

Mentorship is not a one-time or static process. It is a dynamic and ongoing learning journey that requires constant adaptation and improvement. You need to review and update your goals and strategies as your startup evolves and faces new challenges and opportunities. You also need to seek new mentors or adjust your existing relationships as your needs and expectations change. You need to be open to feedback and criticism, and willing to experiment and test new ideas and approaches. You also need to learn from your mistakes and failures, and use them as opportunities to grow and improve.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?