Mentoring is an integral part of the startup ecosystem, particularly during the early stages of entrepreneurship, as startups face numerous challenges and obstacles on their journey to success — and this is where mentors play a crucial role in guiding and supporting them. For instance, TechCrunch revealed that 33% of startups that became top performers, including Shutterstock and Tumblr, had mentorship from founders of other top-performing companies.
One of the main reasons why startups need mentors is the invaluable experience they bring to the table. Mentors have typically been through the ups and downs of building a business and have gained industry-specific knowledge. By sharing their own mistakes, lessons learned and achievements, mentors help startups avoid making similar costly errors.
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