In life, everyone has at least one person—friends or families they run to for advice, counsel and help. It is because they can empathetically relate with you and proffer solutions.
After all, they have been there and have more experience. This applies to all areas of life.
There is no starting up any form of business without seeking advice from an experienced hand in your business field. Now to answer the big question —Why Every Startup Needs a Mentor?
Why Does Every Startup Need a Mentor?
In simple terms, a mentor is an adviser. A business mentor is an experienced and trusted adviser who takes up the sole responsibility of training and guiding you—an inexperienced, who is called a mentee in an area of specialization with the sole aim to foster your career development and success.
Prior to when a child begins to walk, he must first crawl. However, he needs the support and supervision of a parent to avoid bruises and injuries in the process.
Likewise, in the business world, a mentor acts as a parent to a particular individual to provide the necessary guidance, personal support and encouragement needed to avoid bruises and injuries in the long run.
Without further Ado, let’s get into it.
•Success is Guaranteed
Experience is a costly asset, which is crucial to the success of every business. Most people think they can gain this experience from only books. But in fact, there is only so much one can gain from gathering experience in a book.
A business mentor is someone you will be able to connect with. They will expose you to the world of business and explain explicitly how to attain success and avoid unseen mistakes because “they’ve been there and done that.”
In a 2013 executive coaching surgery, 80 percent of CEOs said they received some form of mentorship. This point has established that a mentor is a prerequisite for a business startup. It is only safe to seek advice from one before venturing into a business.
•Expansion of Network Opportunities
Having an experienced business mentor equals having vast network opportunities. A business mentor, who is already interested in your growth, would also want to introduce you to a network of people who can invest in your business. Because he is interested in your success, he will link you with people you can sell out your business and access elusive information.
The more you network, the more people you meet, the more people can invest, the larger your network and business grow. You obviously can’t get this kind of opportunity without having a business mentor, or can you?
•Confident, Trusted and Long Relationship is Established
A business mentor does more than worry about your financial life but also personal development. He is also concerned about your emotional, mental, social and every other aspect of your life. A mentor knows how to give words of encouragement when you procure a loss because he has been there. He will proffer solutions to help you get back on track.
He makes it a constant reminder to reassure you that you would be successful. This helps to boost the confidence of an entrepreneur. A mentor also creates a safe space where you can talk about your worries knowing there would always be a solution. With all of these, you’ll be surprised to see how your mentor can also become your friend.
•Increased Emotional Quotient
The human brain is known to make hasty and unreasonable decisions when under pressure, how much more when dealing with money. A business mentor would make sure your emotions are well in check at all times.
They will make it a top priority to control your decisions without acting irrationally and based on emotions. You will be guided on how to respond in any situation you find yourself in.
•To Ensure Commitment
Research shows that accountability fosters commitment. Since it is productive to start up a business, it requires a lot of responsibility and commitment to yield results, which most people don’t have. Thus, making most businesses fail.
A mentor’s job is to oversee that you remain committed to your business to reach your proposed goal, which could be on a short-term or a long-term basis. Being accountable to someone keeps your commitment intact.
As you can see, there are more advantages to having a business mentor. They have experienced the highs and lows of running a business. You can have frank, open discussions with no pressure and no vested interest at stake. Every entrepreneur should have one and be sure to run at a very low or non-existent risk.