From a Mentorship Platform to a Profitable Business: The Incredible Journey of MentorCruise to $30k/month

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.


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