BUSINESS

The Reasons Why Mentors Play A Huge Role On Success Of Entrepreneurs

A mentor is an experienced, sensible, trusted consultant. Mentors are seasoned entrepreneurs and experts having first-hand experience and understanding on business-related matters.  Because they have gone through the ups and downs themselves, they are aware of the problems the emerging ones are to face and are willing to help emerging entrepreneurs towards success.

Mentors are one of the most valuable resources for entrepreneurs. They make the daunting process of building a business easier for novice entrepreneurs. Their advice can be applied to both the planning and decision-making actions in the business.

The Value Of Mentorship

Many successful entrepreneurs share the credit of their success with the mentors who guided them throughout the journey. Real mentors genuinely put effort to assist you in every way possible. Their insights and experiences help you to learn things directly. Moreover, the mentors also warn about the probable challenges that occur in every step of the business as it progresses along with proper solutions to overcome them or avoid them if possible.

With good guidance and feedback from the mentors, the solutions are found quickly and problems get solved with fewer complications. Mentors also share their networking resources which are invaluable as it enhances the probability of success. And if the mentors are industry leaders then they are in better position to bond with the other related firms of the industry that influences the activities.

How Can You Find The Right Mentor?

Entrepreneurs can find free advisers easily but finding a good mentor is challenging. When looking for mentors, connect to those who know your industry closely, understands the workings of business and are experts in the areas where you need assistance.

The relationship between an entrepreneur and their mentor is informal unlike to that of the board of directors that gets you worried about long-term commitments. You can always reach out to senior entrepreneurs and experts as much as possible to get insights from them in a casual environment.

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Where Can You Find The Mentors?

The prospective mentor can be connected through different networking events that happen within the city. If you are a student entrepreneur or a member of your college alumni network, explore the networks built by your alumni entrepreneurs to know more people.

Entrepreneurs who are willing to support others also make themselves available in various incubator and accelerator programmes. Therefore, find the websites for such programmes and connect with a possible mentor by going online. You can also use social platforms like LinkedIn, Twitter, Quora, and so on.

Approaching The Mentors

Do not hesitate to approach someone when seeking help or advice. People who have started their ventures from scratch, faced challenges and have become successful are most humble, and most would be willing to extend support. However, it is better to do your research about a possible mentor before approaching one.

Find out what they can help you best with and be candid when you are talking about your problems. When the mentor understands where you are coming from, they can cater their advice to meet your needs and you will learn things quicker this way too. Be polite with them, and over time you can build a close, personal relationship.

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Giving Back To Mentors

It requires immense effort finding good mentors. The time they spend with you is precious, so learn as much as you can from them. Always have the hunger to explore, learn and understand. And it is essential implementing what you have learned. And although we have presented the mentor-mentee relationship as though it were a one-way affair, the relationship is also a collaborative enterprise that benefits both of you. Therefore, give back by paying it forward. Repay your mentors by mentoring someone else in the future.

Hence, having mentors beside you and within your network is highly supportive for business success. Mentors assistance helps you not only to guide towards success but also avoid any problem as much as possible while building the value of the venture.

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