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| Ranjeet Reddy Paladugu |
As the CEO and founder of Specialty Holdings, Ranjeet Reddy Paladugu has extensive experience in business having been head of finance and controller for other organizations. In addition to his professional duties, Ranjeet Reddy Paladugu has also been a mentor for junior professionals. Mentors serve all kinds of roles for professionals, from being a resource to a sounding board. However, for a start-up, a mentor can be the difference between just surviving and exceeding expectations. There are two common types of mentors in the business landscape. The first type assists with product development and other tech-related issues, and the second type is a general manager. A study completed in 2015 by online magazine Tech Crunch researched the success of start-ups in the tech sector in New York City found an established connection between mentoring relationships and start-up success. The article went on to connect key public figures whose start-ups had been successful with other powerful businesspeople in the same sphere. Moreover, these mentors did more than socializing with these entrepreneurs. Mentors are valuable resources as it relates to getting advice regarding navigating government regulations and policies, tax issues, and day-to-day decisions. In addition to introducing the start-up founder to a community of resources, mentors can help business heads long after the launch of the company. A person who has run a successful company and a sustained relationship with this person can influence the long-term success of the start-up. Finally, the relationship works best if the mentor and professional focus on specific objectives toward a successful launch.
