In your own words, what does your company do?
At MentorCruise, we aim to make it incredibly easy for you to find a mentor. We believe in times of remote work, increasingly self-studied individuals and the rise of bootcamps, mentorship is the thing that glues it all together.
And that’s exactly what we’re seeing in practice – while we initially set out to provide mentors to self-studiers looking to break into tech, today people use us for anything from building their own business to trying to get a promotion.
Our job in this whole thing is to find great mentors, vet them, provide a framework that allows for good mentorships to happen, and make sure everything is running smoothly.
📈 Monthly revenue: $30,000
📈 ~% Churn: N/A
📈 ~% Net profit: Do not wish to disclose
📈 Funding: $0
📈 Initial cost/investment to start the company: Do not wish to disclose
📈 Number of team members: 5
📈 Number of founders: 1
📈 Started: 2018, March
How does the company make money?
💰 Our mentorships are paid, which means mentors on our platform create mentoring plans that include a set amount of calls and services, and we simply take 20% out of the equation. We don’t get paid unless our mentors get paid, and it generally provides a win-win-win.
3 strategies that have worked to attract and retain customers?
✅ Quality assurance: Having great mentors on the platform that people want to stick with
✅ Accessibility: Making MentorCruise accessible on all devices, via email responses and via app.
✅ Pricing: Encourage higher, long-term pricing.
3 things that you’ve learned about hiring and retaining great talent?
✅ We give all our team members a mentorship stipend. We find that professional development is at the top of the mind for ambitious individuals, so providing this is key.
✅ We trust all our team members to set their own schedule. We don’t track working times and look at output instead. This creates a modern working environment.
✅ We create a tight feedback loop with everyone and give people the information they need to grow and develop.