Tailored Accountants partner Hannah Tran became a CBRIN mentor after being an investor in the start-up space. Photo: Tailored Accountants.
Mentorship is an essential part of the start-up survival kit, but one expert says both mentor and mentee must do their part to make it productive.
Canberra Innovation Network (CBRIN) mentor and Tailored Accounts partner Hannah Tran used to assess startups with an investor’s eye – now she’s helping them grow from the inside, bringing nearly two decades of finance experience to help early-stage founders navigate the tough early terrain of building a business.
She says critical to a productive mentorship is the mentee’s grasp of the strengths and skills their mentor brings to the table.
“Whether their strength is in sales, strategy, industry knowledge, operations, finance – the more you understand about them, the more effectively you can engage with them to extract useful insights from their experience,” Hannah says.
“Be clear about your needs upfront. Approach each mentor with specific goals or challenges, so you can get targeted advice from them.
“Importantly, if you, the mentee, don’t stay proactive and don’t follow through, you’ll get little from your mentorship. Remember, a mentor can guide you, but you’re in charge of the progress. You need to show commitment and outcomes.”
Hannah says it goes both ways, but fortunately, CBRIN is home to a diverse pool of mentors who understand the fast-moving, unpredictable nature of startup life.
The best mentor, she says, isn’t always someone in their mentee’s industry. Often, it’s the outsider who brings big-picture thinking and helps them stay grounded.
“A good mentor takes the time to understand their mentee’s unique challenges, so they can help identify roadblocks and provide guidance,” Hannah says.
“For women mentees, it’s important that you’re open to discussing their unique challenges. It’s all well and good to say you must separate your personal and business life, but that’s not always the reality.
“Discussing work-life balance, confidence and even family issues can help clear the mind, and a clear mind can focus better.
“There are more and more startups with female founders and they’re seeking mentors who can understand their context and champion their voice.”
Canberra’s tight-knit and generous innovation ecosystem sets it apart from bigger, more competitive markets. Photo: CBRIN.
When the formula and chemistry are right, a mentorship can shorten the path to success.
For female founders, there’s an extra layer of benefits.
“Mentorship offers women in business encouragement in traditionally male-dominated industries,” Hannah says. “They can provide good advice on navigating gender-specific barriers.”
Beyond the wisdom of their experience, mentors often come with valuable networks.
“Whether it’s suppliers, strategic partners and even potential investors, the right connections can open doors founders didn’t know existed,” Hannah says.
“They’re there to offer guidance, clarity and direction, help you avoid common pitfalls and make more informed choices and provide reassurance in tough times.
“Overall their support can make the journey less overwhelming and more strategic.”
Hannah says quality mentorships are a hallmark of Canberra’s tight-knit innovation culture.
It’s what convinced her to expand her role in the ecosystem in the first place.
“I love how people genuinely support each other in Canberra. That sets it apart from larger, more competitive markets like Sydney and Melbourne,” Hannah says.
“I already have a strong connection to the start-up space, but being a mentor is an opportunity to give back to the community I value, support local entrepreneurs – particularly emerging female founders – and strengthen the Canberra ecosystem.”
Hannah is gearing up for her next round of mentorship as part of CBRIN’s Griffin Accelerator program — applications are open until Monday 28 July.
