We recently had the opportunity to interview new mentor, Shane Cole! Shane is the EVP & Principal at Covenant Global Investors. In this interview, we get Shane’s take on mentorship and what types of technologies strike his interest!
What was the most important thing a mentor ever did for you?
In addition to providing encouragement, one of the most important things that a mentor did for me was provide a roadmap on how to get from point A (start-up) to point B (successful & thriving business). As a start-up company, ‘you don’t know what you don’t know’. My mentors have helped me by providing a framework of what it looks like to grow into and operate a successful company.
What do you think a mentor can do for a startup? How can a mentor help?
I think it is invaluable for new entrepreneurs to solicit as much feedback and guidance as possible from successful business men and women who have years of relevant business experience. A mentor can help to provide a unique perspective to a new entrepreneur that will help to uncover any ‘blind spots’ that an entrepreneur may have and not realize. In addition, a mentor can help a start-up by brainstorming on ideas to help the company be more efficient when it comes to sales & marketing, operations, order fulfillment, finance & accounting, etc…
What kind of startups and technologies do you currently find interesting?
I find mobile marketing technologies to be very interesting as I believe that there is a tremendous opportunity for marketers to send very targeted campaigns to individuals based on their physical location. The mobile phone will serve as the primary location device and marketing medium that will be leveraged in the future for targeted marketing based on an individual’s location and known preferences. Three companies that will be key partners in maximizing this technology include Google, Apple, & Facebook.
What is the most important part of a company’s application when applying to an accelerator and why? Product description and design, market opportunity analysis, sales and marketing plan, team biographies, or something else?
I believe that all aspects of a company’s application are important as each will play a vital role in determining the probability of success for a start-up company. Each aspect of the application needs to have a well-developed thought process & plan in order to increase the chances for acceptance into the program. However, I believe that all of the other aspects of a good start-up business plan will revolve around a differentiated quality product or service.
Learn more about Shane Cole on his bio here!