Mentors; The Wise guidance
Original article in Greek by Andreas Fragos
Translated by Stella Vasileiadou
Taking up a business action is a process closely associated both with the entrepreneur’s personality as well as with his ability to cooperate with others. However, mentors do play a critical role in helping with that. They actually act as experienced advisors offering guidance through programs that promote and fund start-ups.
Modern Business
Modern business is flourishing thanks to globalization and its technological development. More and more people are willing to dare and step into the business world. Our country’s economic crisis has not affected the get-rich-quick mindset nor the desire to contribute to society via entrepreneurship.
Start-ups
The so-called “start-ups” they are a whole entrepreneurship category of their own. They are based on small groups that invest time and money. Also they are actively seeking for funding and always aim for innovation, and they try to enter the market as soon as possible.
The need for consultancy
The role of consultancy is therefore crucial. It plays a crucial role for start-ups , as they lack experience and specialized executives. Incubators offer legal, accounting and financial advice from experienced market executives. This way the knowledge gap is bridged and better results are achieved.
Mentors
Prominent members of the business and academic community who are advertised as mentors, i.e project consultants are distinguished during entrepreneurship contests . Discussing and interacting with them breaks new ground by creating new opportunities, increasing networking , and filtering information. All these eventually modernize the business group’s mindset.
The road to success
Accurate information, careful consultancy, a good business idea and a team that consists of members full of capacity and of vision are some factors that mark entrepreneurial success. More specifically, these elements open up the way for international sales as well as for international cooperation.
Financiers
The financing can be relied on angel investors who offer funds for no financial gain or by acquiring a business share. Mentors help significantly in getting others to know the business especially within business circles that do have available funds. As a result, this could act as a indirect source of income for the company.
Business acquisition
During its development, a start-up deals with one of three possible consequences: failure, success with exceptional profit or acquisition by a large company that can sometimes achieve astronomical proportions. This could be the best outcome that a young enterpreneur could hope for, as this is the fastest and safest way in order to enter the “big game”. For instance, there are many examples of Greek start-ups that became successful after foreign companies acquired them.
In any case, no matter how things turn out, it´s important to make the most out of the mentors’ knowledge and experience. In this way, the business’ vision will feel more real and will be put into practice with reliability, trust, creativity and realism. Besides, in the business world, nothing stands in the way of a dream.
