First of all you need a team of friends willing to help. The following information should help you decide which one best suit your needs as you are the entrepreneur and not a coach. Keep this list on hand and give it priority.
How much does this going to cost?
The cost depends on the type of support you need and what your skills are, how many mentors and coaches you can afford, and whether you need a company which can do the hiring, training, business promotion, etc.
For starters, most startup founders have a few very expensive mentors, usually with more than $20K per month to the first month on top of a few hundred dollars monthly for coaching. In other cases, you can try to look for mentors with less than $25k per month or even less. Just make sure you get a coach who has experience and has some knowledge of this particular niche.
There is an exception to this rule where you get a mentor who has around $200K in monthly income, the rest of the money would be for marketing and marketing consulting.
Is there any extra money you will have to provide?
Usually yes. But this depends entirely upon your skills, and the particular niche of what you are going to teach yourself. That is why it is best to make it a point to bring these up as an ongoing conversation with your coaches or mentors. You should always be sure to ask for a quote or budget with an exit condition at the end or on the first day of their session.
How do I get a quote?
Here is a tip I learned from a startup founder whose coaching I helped: “If you are not comfortable saying ‘yes’, or even saying ‘no,’ keep saying ‘yes. Now do what you must do. If it comes to that, I will pay you. I want you to go.’ And if ‘yes, please’ is not your answer, that’s fine. If you are not ready yet, ask for something in advance.”
Should I pay upfront or late?
You should always try to ask for early payment, even though it can be hard for an inexperienced entrepreneur to do this. For starters, if your startup is not going to make any money while you are paying for your team and the support you need, you are not ready to quit just yet; you might want to keep working on your ideas and learn about how you can make more money. In this case, you need to make sure
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