What I’ve come to discover is that if you’re an early stage startup, nobody cares about you, and you’ll have plenty of people watching closely. And if you ‘become’ big, everyone wants to be your friend.
Do you think startups should look for a mentor ‘before’ raising capital, or ‘after?’
The key thing is having the mentor. However, if the mentor has fundraising knowledge then definitely prior to raising. They can help you steer you away from the many many mistakes we see on a daily basis. However, be wary. We see plenty of business advisers that claim to know a lot, but really are just full of platitudes and don’t add much value.
You’re right Luke that people tend to want to help and be associated with you once you’ve already made it (or it’s obvious that you will). It certainly gets easier once you get more traction in your business. Mentors and your advisory board can help you stay motivated through the early tough days.