According to Forbes, mentored startups grow 3.5x faster and raise 7x more capital. We’re all guilty of thinking we have to go it alone, but the fact is, entrepreneurs that seek help are more likely to build a business that works. Furthermore, 70% of startups that are mentored go on to survive their first five years of trading says Entrepreneur; this compared to the harrowing data that says 70% of startups typically fail in years 2-5.
That’s why Funding Coach came to be -- until now, there wasn’t a one-stop-shop for founders to get their startup off the ground. Many will share anecdotes and maybe tips for success, but few will delve into the nitty-gritty. With so many new ideas formed and startups entering the ecosystem every day, there simply are not enough of the right resources out there.
There are a few ways that outsider help -- from someone who’s already done it -- can benefit you. Firstly, you can preempt and avoid pitfalls many more inexperienced business owners fall into. In one study, 92% of business owners said mentors had a direct impact on both the growth and survival of their business. We know this to be true, and where, for too long, such resources weren’t previously available, we know there is an easier and cheaper way to get you from A to B in as short a time as possible. One such way we do that: these templates.
Mentoring impacts employees too. Entrepreneur reported that in a 5-year study of 1,000 Sun Microsystem mentored employees, mentorship increased pay rise prospects by 20% and promotions by x5. It reiterates the message that you are investing in the longevity of your business and when they too are involved, in them.
These stats are based on real business experiences; so is our training. We can help you with everything from sourcing funds, to practical preparation and strategy, to overcoming normal everyday issues you face. Why not get started with our free Wartime CEO training? Learn how to book more investor meetings, create an actionable plan, and what not to do when raising funds -- often overlooked yet equally as important to know.
If you’re ready to better your odds, save yourself time and money, and want to follow tried and trusted plans, then let’s book a call.