Startup Mentoring & Why We’ve Launched Our New Service
As we’ve just launched our new Startup Mentoring service I wanted to share a few thoughts on why we’ve been working on it and who we think could benefit from mentoring.
At Hired By Startups we’ve always been driven by a passion for connecting brilliantly talented people with really exciting startups and watching them succeed together.
We’re great at it and we love doing it. However, we always found ourselves asking “what can we do to help startups and their teams do more, do better and scale faster after they hire through us?”
To answer that question, we’ve just launched our new startup mentoring service and we couldn’t be more excited!
Why Startup Mentoring?
In my opinion, professional mentoring is THE best form of learning and development.
I’m a real believer in life-long learning and Mentoring has without doubt had the greatest positive impact on me professionally.
So if I benefit from mentoring so much, why doesn’t everyone use it? The answer it seems, is simply access to good mentors.
The problem is, most startups just don’t have the network or time to find and engage Mentors who would be the best fit for their team.
This means Founders and startups either don’t use mentoring at all or they do use mentoring but with Mentors who perhaps are not a great fit for their objectives.
From our research it also became clear that most startups are committed to learning and development and give each employee an annual L&D budget.
However, when we asked Founders was their ROI on that budget was, we didn’t get a single clear answer and when I asked myself the same question, I couldn’t answer it either.
So we set out to create a solution whereby startups and their teams could access the best Mentors for their specific objectives and operate it in a way whereby results could be measured to ensure constant progress.
Our Mentoring Solution
Rather than building a standalone solution, a platform with bells and whistles, we’ve focused on the core of the problem with a simple solution.
We work with startups to understand the problems they want to solve with mentoring and then use our skills and network as a recruiter to find, engage and connect them with the most suitable mentors with all the skills and experience they’re looking for.
This means we’re always finding the best Mentor for each challenge, rather than simply picking from a very limited pool of ‘professional’ mentors as we’ve found elsewhere.
It also means a single startup can work with a variety of mentors to help solve a variety of challenges, swapping mentors in and out as they scale.
How Startup Mentoring Works
The process of assigning mentors is very similar to a standard hiring process.
We first explore your reasons behind mentoring, high level objectives and what you’re looking for in a Mentor.
This will define whether your startup is best suited to Peer Mentoring or Leadership Mentoring.
Peer Mentoring is when your team is mentored by someone in the same role but with more experience. E.g. An experienced SDR mentoring less experienced or underperforming SDR’s on your team.
Leadership Mentoring is when your team is mentored by someone in a leadership position. E.g. A Founder being mentored by a VP Sales on sales strategy or by another Founder on fundraising.
We then engage with our network to source a Mentor who we think will be a great fit for you with the experience of solving similar challenges.
Once everyone is confident there is a Mentor and Mentee match we start mentoring, with the first session dedicated to setting objectives and building a roadmap.
We usually suggest 2 hours of mentoring per month on a scheduled as 1-hour bi-weekly. This is long enough to be insightful and short enough to be actionable.
We then report feedback from both Mentor and Mentee after each session to the assigned reporting lead (Head of L&D, Team Manager, Co-Founder etc) so they can track progress.
How Much Does Mentoring Cost?
The great thing about mentoring is that you get a tremendous amount of value with very little cost. Peer Mentoring is generally £250 + vat per mentee, per month and Leadership Mentoring is generally £500 + vat per mentee, per month. There’s nothing to pay until mentoring starts and you can cancel anytime.
Find Out More
If you’re interested in exploring how mentoring could benefit you and your startup then please get in touch.
At Hired By Startups we’re a leading startup recruitment agency, specialising in helping post-Seed & Series A startups hire the best Sales, Marketing, Operations & Customer Experience talent. Find out more about how we can help your startup hire or get in touch.
About the author
Hi, I’m Tom – Founder & CEO at Hired By Startups. You can connect with me on LinkedIn here.