Halllp Needs a Mentor

I have previously highlighted the importance of getting a mentor (link) and I feel Halllp is in a stage where we need one.

First time building a classifieds business – Since I do not have experience of building a startup in this space, the role of mentor is very important in giving direction to the startup.

New geography; culture, marketing methods – Both my previous startups have been targeted to India and hence this would be a very different market and experience for me.

Building a scalable model – Help with building sustainability and scalability in my business model is key.

Confirming validity of idea – Having someone with experience in this domain give feedback can prove very beneficial for us.

Tech co founder – I am looking for a Tech co-founder. A mentor can help me in connecting to some potential co-founders in his/her network.

HALLLP’s JOURNEY – Feedback from a Mentor

I got an opportunity to speak with Mr. Pushpendra Thakur, Cofounder at Mishtag. This was through an event conducted by 91 Springboard. He was overall happy with the idea and felt that there is a genuine need for it. He also said that using a top down approach was a good way to approach this category.

His advice to me was to focus on 3 things primarily.

Getting Initial Buyer Postings – He felt that if we can get initial buy side leads/posts, getting sellers would not be a big problem.

User Stickiness – He said that since the app is meant for students initially, building stickiness or repeat usage would be a challenge.

Spam – He felt that if not currently, moderating spam postings would be a challenge we will need to address at a later point in time.

Finding a Mentor for Your Startup

A good mentor can help drive a startup in the correct direction and at a good pace. So how do we find this mentor for our startup?

Networking: Entrepreneurs must frequent startup/industry networking events. Interacting with people in such events is one of the best ways to find someone who can show interest in your startup and in mentoring you in the same. Always try to stay till the very end when you get a better chance to have a more detailed discussion with the other attendees.

Communities: Find communities of people which relate to the sector you are working in. For example in Beveragewala, I joined a Tea Tasting Community where I was able to meet a lot senior guys from the Tea Industry.

Online: You have some online networks which one can join to find a mentor. Also joining social media groups and identifying people there can be a good option.

In all the above, we must realize identifying a mentor and then selling your story to him/her is key. Finding the right mentor can prove very beneficial for your business.