What Is A Startup?
Not every new business is a startup. We speak of a startup only if it meets the following criteria:
- attends a so far unattended customer need or attempts do so in a genuinely new way
- has the potential to disrupt an existing industry
- leverages its assets in a way that enables exponential growth.
Why Reaching Out For A Mentor?
Some early stage entrepreneurs are shy to share their business idea with others because they fear that someone might steal it. They oversee the far greater (and much more realistic) danger of spending time and money on paths that lead to dead ends. Trying out something genuinely new unavoidably comes with much greater business risk than following others on a beaten track. Startup founders are usually very enthusiastic about their business ideas. And rightly so: That enthusiasm keeps them pushing through all the trials and errors that it takes until their business becomes a commercial break through. Wise entrepreneurs, however, don’t venture on this journey alone. They are conscious about their own bias and avoid common pitfalls by asking experienced mentors for critical feedback and advice.
Growth stage entrepreneurs have already gone through the phase of testing and adaption and have identified a viable business model that taps into a voracious market demand. Their challenge is to keep pace with breathtaking growth rates and set an infrastructure of systems, people and processes into place that enables them to scale their business profitably. At this point, the finance function becomes of greater importance as founders with a commercial or technical background need to raise external capital and explain their business performance and financial results to investors. A mentor with a finance background can help disseminate knowledge or even assume the role of the CFO on a staff-on-demand basis.
How We Can Help
Sounding Board
- Up to 3 Interactions via web conference
- Feedback on idea, business plan, processes and economics
- Definition of MVP, marketing and fund-raising strategy
- Signing of NDA if desired
- 100% free of charge
Mentor
- Regular interactions on a monthly basis
- Definition of MVP, marketing and fund-raising strategy
- Review of business plan, processes and economics
- Review of financial statements and liquidity planning
- Review of KPIs or OKRs
- Pay-as-you-go or equity investment
CFO On Demand
- Member of management team
- Business controlling
- Assessment of scalability for profitable growth
- Preparation of financial statements for fundraising roadshows
- Investor relations
- Pay-as-you-go or equity investment
