Are you battling with the idea that you may not need a mentor as an entrepreneur?
The importance of a mentor in an entrepreneur’s life cannot be emphasized enough.
Yet, several business owners start their business without one.
In the reality of the current world, business owners seek out partners and investors more than business mentors.
Nevertheless, one of the most contributing factors to business success is good mentorship.
Hence, we will discuss why every entrepreneur needs a mentor.
So, if you think you don’t need mentorship or advice as an entrepreneur, you’ll be thinking differently at the end of this blog post.
Why Every Entrepreneur Needs A Mentor
The truth is that in every field, there are people who have been there first, learned, and have mastered its art.
These are the kind of people to have close to you.
These people often inform your path choices, serve as a shock absorber, and there’s always one or two things to learn from them.
All the awesome success stories of self-made entrepreneurs that we hear today may make you think they all made it to the top relying solely on their efforts and knowledge.
While this is true for some, for most entrepreneurs, they had some help from seasoned business mentors.
Furthermore, studies have shown that new entrepreneurs who have the help of mentors excel better than their counterparts.
Did you know that Steve Jobs mentored the great Mark Zuckerberg?
The quality that mentorship supplies to a businesses’ growth are pretty evident on the Facebook platform.
It is a continuous chain of knowledge transfer and a kind act of service.
It is excellent when someone shares the knowledge they have accumulated all the years with someone just beginning the difficult journey of starting a business.
Now, we do not say that relying on financial investors is wrong.
We accept that these people can be of immense help to the enterprise as well.
However, relying on these people as mentors is not the best approach because they’ll offer biased opinions and advice, which will be in their best interest.
The same thing goes for business partners.
The point is that all these people have a sole purpose for being in the business with you in the first place.
A mentor comes with a clear intention and no interest attached.
This way, they can give you an unbiased evaluation of how to move the company forward.
And another thing to take note of is that the perfect business mentor is, in fact, one who has been an entrepreneur.
Only then will the mentor be enriched with wisdom nuggets to guide you in your business journey, having had the experience.
Take note that the people who support you on your entrepreneurial journey are essentially a pivot in the success of your business.
Who is a Mentor?
The idea of mentorship has always been prevalent from old scholars like Plato, Socrates, and Aristotle.
These scholars each dominated their time but were highly influenced by their other great scholars.
This trend of learning from others has become a fact for growth and stable success.
Because of this, the need to seek out mentors, whether in the context of a business or everyday life, grows daily.
So, who is a mentor?
A mentor is someone who can guide, inform and educate you.
These mentors often develop a solid relationship with the mentee.
They also have to know what challenges you face and what area you may need help in.
Their experiences and understanding of a particular issue are the tools that will enable them to coach you.
Furthermore, in pinpointing the art of mentorship to business, we can define a business mentor as someone with experience in entrepreneurship.
This is someone who you, as a business owner, can confide in.
They will always be willing to listen when you have complaints about the business or personal life.
This usually is not a paid service but an act of kindness.
We know you may marvel at the no-cost policy.
However, you should note that most mentors to new and budding entrepreneurs see this act contributing to society’s growth.
On the other hand, other mentors prefer to offer paid mentorship programs.
This is primarily out of a desire to see people give value to their knowledge and experience, as most people tend not to value what they don’t pay for.
That aside, either paid or unpaid mentorship, certain qualities distinguish a good mentor from a bad one.
What Qualifies a Good Mentor?
Not anyone can pass for a mentor.
There are qualities that a good mentor should possess to be easily identified.
These are assets that will make them more unique.
These are the virtues that will separate them from the next mentor.
This is what will determine the quality of how well they can impact you with their knowledge.
First of all, a mentor is someone who will see the potential in you.
They should not have a gloomy outlook toward your situation, no matter how sad it may seem.
They have to maintain positivity at all times.
This is what will boost you to do better.
Secondly, a good mentor has to be a good listener.
The mentor should be willing to pay attention without judgment or criticism.
Thirdly, a good mentor should be very compassionate.
This virtue enables them to relate to the mentee’s pains, regrets, or even joys.
As a result, putting themselves in a situation where they understand their mentees’ challenges and spur them to find solutions.
A good mentor will also embody honesty, patience, and they will be well-learned in their chosen field.
Where to Find a Good Business Mentor
There are several contributors to the growth and success of businesses.
This could range from the feasibility of your business ideas, team effort, and the foundation of the business.
However, experience is what every factor hinges on.
There has to be a collection of entrepreneurial experience if the enterprise will stand the test of time.
However, new entrepreneurs may not have these experiences to help them navigate and succeed in the business world.
The only way to gather this sort-after experience is from mentors.
Having a business mentor will equip you with the appropriate guidance you need to run a successful enterprise.
But where do you find business mentors who are ready to invest their time to build you into a seasoned entrepreneur?
Let us share with you a few places to look.
Friends and Family
You don’t even have to look too far.
One beautiful thing about your close relationships is that you can always find help therein.
People find their spouses, friends, and even business partners there.
Gathering with family and friends could present you with an opportunity to meet a good mentor.
There will be someone who is into business or has those kinds of connections.
Even if these opportunities do not come impulsively, you could ask politely.
Finding mentors this way may be the easiest for you, especially if you aren’t an extrovert.
You will be more relaxed to reveal your worries in a circle of closely related people.
Social media has become one of the easiest ways to meet people.
The good thing about this platform is that distance is not a barrier.
It is easy to find and connect with like-minded people just from the comfort of your bedroom.
There could also be a forum for shared experiences of why every entrepreneur needs a mentor.
Seeing that people are struggling with similar issues as you do, puts you at ease.
Another advantage of this is that it does not even have to be a formal setting.
You could find what you are looking for with just a casual introduction.
Also, you do not have to limit your choice of mentor to your environment.
If you can’t find one that appeals to you, social media will make it more conducive to relate with someone miles away.
Try to connect yourself with these platforms such as LinkedIn, Twitter, Facebook, and so on.
This is an appropriate example of killing two birds with one stone: Volunteering helps you serve the community, and you could also find mentors this way too.
Here, you will meet people from all works of life.
Seeing them in a place like that already informs you of their values and likes.
Furthermore, as a business owner, volunteering boosts the enterprise’s credibility and informs the public that your priorities are set just right.
Business Development Centers
These are set up establishments to assist entrepreneurs, both old and new, with resources, skills, and instructions across several cities.
Capitalizing on this opportunity could help you meet mentors as this is one of the services provided.
These development centers should be one of the welcoming havens that will usher and cushion your footsteps and choices.
They will serve as a soft bed to fall back on when things go awry.
These are one of the events put in place to make people connect with themselves.
It is also the perfect opportunity to expand your business network and alert people on what services you offer.
Since this is a place where business personnel share ideas and views, finding a mentor here will be an easy fix.
Belonging to a professional association will make things much easier for you.
Here, you will find someone who has achieved the height of success you want to attain.
However, let it not be someone who is a competitor.
Also, it should be someone you can relate with on a more personal level.
Overall, these are the benefits a professional group can offer you.
How Can You Find a Mentor?
The essential step for a mentoring relationship is that you should be willing to seek help and advice from people who know better than you do.
Be willing to learn and take corrections no matter how hard they may seem before you go searching for a business mentor.
Do your researches and study.
Secondly, find out if you and your mentor are compatible.
You can do this by emphasizing the goals you want to achieve.
Assess the prospective mentors’ achievements to see if they match yours.
Also, it is important to relate with someone who is more personable.
Only then will you be able to identify with their mistakes and victories.
Thirdly, do not choose someone, e.g., an investor or business partner with a stake in the business.
If you do this, their opinions will be biased and uneven.
This is because they have something to lose.
You will not get complete honesty from them.
In addition, you don’t necessarily have to pay your mentor, especially if you have limited funds.
You could find someone who offers free mentorship programs as a way of giving back to society.
Furthermore, there should be sustained interest on your part.
Do not forget that this is going to benefit you.
It is interest that will ensure that you get the most out of your learning.
Lastly, you should ensure that you have something to offer back.
Do not just be a taker.
It is every mentor’s joy to see a student utilizing everything learned from them and achieving positive results.
This is more than any monetary reward or gifts you could give your mentor.
Also, show some appreciation.
You could also give back by mentoring someone else.
Reasons Why Every Entrepreneur Needs a Mentor
If you are uncertain about why every entrepreneur needs a mentor or how they will boost your business spirit, then here are few reasons.
1Encouragement – Why Every Entrepreneur Needs a Mentor
Having to deal with the downsides of failure alone may affect your productivity level.
With a mentor by your side, you can scale the walls of setbacks successfully.
Depression may set in for newbie entrepreneurs when they can’t achieve their dreams and goals.
However, the perk here is that depression in entrepreneurs is not often reported.
It seems unheard of because a business owner is supposed to “have everything figured out and be strong enough to overcome every challenge. ”
The point is that businesspersons without mentors suffer the weight of these disasters the most.
However, a mentor can give you the words of encouragement you need to overcome the business challenges.
They may also pitch in ideas that will help you in the long run.
This is why every entrepreneur needs a mentor.
2To Checkmate Irrational Behavior and Business Decisions – Why Every Entrepreneur Needs a Mentor
Your age does not entail that you are mature enough to take on a business.
An entrepreneur’s emotions may be a tardy bit frayed and uncoordinated.
This is very unwelcoming in business environments.
Hence, one way to get control of your emotions is with the help of a skilled mentor.
They may have gone through the same thing and will give alternate ways to curb them.
Mentors will help you see why you should not let emotions derail you from making your decisions.
Overall, emotional intelligence is a virtue every entrepreneur should possess.
3Reassurance – Why Every Entrepreneur Needs a Mentor
When a mentor tells you their experiences and how they’ve overcome them, you feel like you can do the same thing.
When you have a mentor, they will assure you that every mistake has a remedy.
Your mentor will also be there to make you realize how much you are trying to put the whole enterprise together.
They will teach you to trust in yourself, ask for help when necessary, but most of all, they will tell you that mistakes are entirely typical.
To avoid beating yourself up during the bad times, you need the presence of a mentor who will reassure you that everything will be okay.
They also help boost self-confidence in entrepreneurs.
4Networking – Why Every Entrepreneur Needs a Mentor
An established business mentor is someone who will have had a solid ground in the business world.
This establishment sometimes comes with a whole lot of business connections.
Since these mentors are already invested in your welfare, they may connect you to some of these business personas who will influence your business positively.
These are opportunities that entrepreneurs without mentors may not have.
5Success – Why Every Entrepreneur Needs a Mentor
Seeing the reasons mentioned above for mentorship only strengthens the fact that mentors contribute to a high level of business success.
Having the right-minded mentors in your life can further enhance these chances of “acing” business opportunities.
All the valuable resources like good quality time, guidance, and advice will bulletproof unhealthy negativity.
One of the reasons this will be possible is that you can get honest reviews from them.
These unbiased views will inform you of the necessary steps to achieve success in your business endeavors.
6Problem Solving – Why Every Entrepreneur Needs a Mentor
Navigating through issues alone may be pretty tough.
With the help of mentors, you can handle these challenges much easier.
Business mentors may offer you helpful investment strategies to help you control the level of risks that may present themselves.
These could, in turn, sustain your presence in the business world.
Studies have shown that about 35% of start-up business owners may not survive the first year.
This is partly due to a lack of good business mentors to guide them in their start-up journey.
To survive in business, you need a knowledgeable mentor at your side.
They will act as cheerleaders, cheering you on.
Also, these people will encourage you to read books on other business figures who have come before you.
These will further enlighten you of strategies that have worked for them in tough times.
Conclusion on Why Every Entrepreneur Needs a Mentor
If you are open to new experiences and connections, mentorship may come much more quickly.
We do not deny that a mentor may not be ideal in all situations in business.
However, having someone who knows more than you, guiding and educating you, will help you better overcome the challenges in business.
Lastly, do not think that having a mentor means that you are incompetent.
Instead, it means you know the importance of having one and why it is essential to the success of your business.