Every startup works on a list of activities critical to their business model like building products or services, building a customer base, assessing the competition or optimising the cost of sales. The business is then tested on a small customer base. If the results are positive then more money is given by investors to scale up the startup.
However, what may work on a small scale with less cost of sales and a small customer base may not work when scaled. More often than not, entrepreneurs fall short on the experience required to deal with all aspects of the operation of their business. In most cases founders lack the experience needed to make complete plans and sail their ship through unchartered waters.
Most entrepreneurs do have access to a pool of advisors through informal channels but one must ask if the advice is backed by concrete ‘on the ground’ experience. It is necessary to have access to a pool of mentors with expertise in complimentary domains. Here the main challenge is that effective mentors are usually very busy individuals meaning its upto the founders on how they are onboarded and engaged on a regular basis.
Venture Gurukool solves this by providing a platform for startups to engage with a range of high impact mentors. These gurus have more than 10 years of experience in a particular domain. This provides the startup with an inspiring environment, a support structure and quality mentoring. All of this resulting in a greater chance of success.
Undeniably the Indian startup ecosystem is at an early stage and needs to be encouraged, promoted and hailed. A high impact mentor can provide deep insight and pivotal strategic guidance across the lifecycle of a business. This, along with the required amount of oversight, helps realise the dream of setting up a successful startup.