Are you looking to grow and learn in your career? Then you need entrepreneurial mentoring! Learn seven reasons every future successful business person needs it.
Within their first year, 22.5% of all small businesses in America will fail. If this number isn’t enough to spring you into action then knowing that there’s a way to prevent this should. Entrepreneurial mentoring is beneficial for all entrepreneurs, even if you’ve been in business for several years.
Some of the main reasons why businesses fail are the lack of motivation, focus, specific business knowledge, and mentorship. Your business is a huge investment and no one wants their business to fail, so don’t let yours. It’s time to start researching how a mentor could help you and your business.
Are you ready to learn, grow, and succeed in your career? Continue reading below to learn how entrepreneurial mentoring can help you do just that!
1. You Learn From Someone Else’s Mistakes
Sometimes, the best way to learn something is through your failures. When you try something and fail, or you make a mistake, there’s much to be gained. You’ll then know what not to do in certain situations.
Although mistakes are beneficial in this way, they can also cause major setbacks in your business. When you have a mentor to guide you, they’ll be able to teach you what not to do from their own mistakes in their career. This gives you the opportunity to learn from someone else’s mistakes.
It’s like completing a trial and error without actually having to work your way back up after an error. You’ll already know what the errors are and can avoid them altogether thanks to your mentor.
2. They Keep You on Track
As an entrepreneur, it’s sometimes hard to stay on track. It’s much different than when you have a boss over your shoulder making sure you’re doing what needs to be done. Being your own boss means you’ll need to be your own motivation and your own boss keeping you focused.
This is much harder than it seems, and it’s easy for an entrepreneur to lose focus or motivation. Your mentor will take the place of a boss for you without actually being your boss. They’ll be there to ensure you’re doing everything that needs to be done for the success of your business.
They’ll check in on you and ask for updates and keep you on track.
3. They Open the Doors to Networking
A mentor who decides to take you under their wing is someone who has experience in the same industry you’re trying to make it in. They’ve walked the same paths as you are right now and with all this experience comes a few friendships as well.
Mentors hold the key to the door that opens up a world of networking for you. If they’ve been in the business long enough, then they know a few people. They’re the perfect person to introduce you to other people in the industry.
These connections might be with investors, contractors, clients, and other people.
4. They Give an Outside Perspective
When you’re trying to grow your business, you have many things to juggle. You’re also placed directly in the middle of everything. Because of this, it’s sometimes hard to see things for what they are.
It’s always a good idea to have an outsider’s opinion on a matter. A mentor might be able to come in and see things with a new pair of eyes that you were unable to see. If something stands out to them as a possible problem-or a possible opportunity, then they can bring this to your attention.
Two pairs of eyes are always better than one.
5. You Can Brainstorm With Them
You’re an entrepreneur. You have several amazing ideas. You’re just not sure how to organize all of them or get them all down on paper.
Your mentor is the perfect brainstorming partner. Bring new ideas to them. Ask them what they think.
What should be modified, and what should stay the same? Is there an idea that has been tried and failed? Schedule routine brainstorming meetings with your entrepreneur and watch your ideas come to life.
6. They Come at No Cost to You
One of the greatest things about finding a business mentor to work with is that they’re generally free. There are plenty of organizations that you can look into that provide free mentors. This is a huge factor for entrepreneurs because as you’re starting out, you might not have the budget to pay for one.
Although mentors are here to help at no extra cost to you, it’s a great idea to treat them to lunch, tea, or coffee every now and then. You can even schedule a brainstorming session over coffee, your treat!
7. You Gain a Life-Long Friendship
For some, the idea of having someone to guide you along the way of your business career is the best gain from a mentor. For others, the life-long friendship that’s gained means more. During your mentorship experience, you’ll get to know your mentor, and they’ll get to know you.
The two of you will most likely form a bond, and we wouldn’t be surprised if years down the road of your success you come across an issue and immediately think to call your old mentor.
Is Entrepreneurial Mentoring Right for You?
If you’re an entrepreneur, then entrepreneurial mentoring is right for you. It’s right for anyone who’s just starting out and doesn’t already have the experience under their belt.
Use this guide to help you decide if a mentor would be beneficial for you.
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