13 Sep 2019
Questions around Mentorship & Fund raising for First Time Entrepreneurs
Becoming an entrepreneur is not an easy decision so through this blog I would to address some basic questions that many first time entrepreneurs have asked me over the years.
How do I find Angel investors to start my business?
There are several angel investor networks, accelerator programs and individual angel investors that one can approach today. But the first thing you need to think about is, what type of angel investor do I need for my business? Would my business be best served by bringing on board an industry veteran or domain expert? Or would it be better to engage with an angel network where I can have the network bring value to me? Maybe I need an accelerator program to help me develop my business plan further? Answering some of these questions will help you get clarity on the type of angel investor you need for your business and then you can then find one accordingly.
Why Every Entrepreneur Needs a Business Mentor?
As an entrepreneur you may face many decisions and situations that seems challenging and a business mentor who has faced a similar situation in his journey, can help guide you in managing these better. He can also serve as an excellent sounding board to brainstorm your strategy and ideas with, by bringing a different perspective evolved through years of experience and depth of knowledge.
How to find a business mentor?
You can find a business mentor through various networks and forums, but it is valuable to understand the importance of choosing the right mentor. Meet a potential business mentor a couple of times to understand them better before you decide to embark on a mentor-mentee relationship. Also be very clear on what you want from them. The more specific you are on what you need from them, the more you will make your interaction with them effective and impactful.
What are the best ways to get start-up funding in India?
There are many ways to get funding today from angels to seed stage & venture capital funds. However knowing which channel is best for your company is more important. So, understand the pros and cons of each type of investor and then choose the one that works the best for your entrepreneurial venture.