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Why Every Start Up Needs A Mentor

WHY EVERY START-UP NEEDS A MENTOR

Wireless charging solutions company Chargifi was founded in 2013 after its founder, 27 year old Dan Bladen went travelling around the world for six months. Dan found that many of the places he visited didn’t allow him to charge his devices easily or conveniently. In part, he needed this power to stay connected with his friend and co-founder, Charlie Cannell, who has extensive digital business experience.

Pundits say that 90% of start-ups fail. Bladen is a firm believer that having the right mentor is why his start up is succeeding. Here, he discusses the importance of choosing your mentor wisely and how they can ultimately help turn a business idea into a brand.

“Don’t Ask Just Anyone to be Your Mentor“ is the title of one of the best chapters in Sheryl Sandberg’s business Bible ‘Lean In’. Sheryl recommends asking people for specific advice to solve a problem – in my case, this was asking Charlie how to structure and fund a great concept. While I’d worked on large technology projects before, I had never set up a business and turned an idea into a reality. Therefore, throughout my backpacking travels, I would bounce my ideas off Charlie - tapping into his experience in picking winners.
Returning to London I put together the first model of Chargifi’s wireless charging equipment and showed Charlie; we were having dinner in Bond Street and he said: “let’s do this”. This shared passion / vision is critical through the good times and during the tough patches.
Be respectful of your mentor’s network, but make sure they trust you to ’sell’ your concept to their connections. Charlie introduced me to crucial investors, such as Streetcar founder Brett Akker who led Chargifi’s first round of angel investment. From this point however, the negotiations were up to me. This experience in balancing team work and independence stood us in good stead for securing significant funding from Intel last year.
Use your mentor’s time wisely. We’ve secured some exciting clients this year, including npower, The University of Greenwich and Pret A Manger and Chargifi now operates in nine markets. Dreaming big, we have set our sights even further, this requires discipline and structure. I’m supported by a great board of experienced individuals including COO Peter Wallace – but it is important for me to listen to the questions Charlie asks from a perspective that is intimately involved with the business, but at the same time removed from much of the day-today - this ‘woods for trees’ perspective helps us see things clearly and move faster.
I met my co-founder, Charlie Cannell, whilst playing in the same band in London. A shared enjoyment outside of the workplace is great for any relationship. A relaxed environment allows for personal chemistry and trust to build and gives business discussions a solid foundation.

This was posted in Bdaily's Members' News section by Chargifi .