Reasons Why Entrepreneurs Need a Mentor

Finnegan Pierson

A wise person learns from other people’s mistakes rather than waiting to learn from his mistakes. Entrepreneurs who have received mentorship from successful entrepreneurs are more likely to become top performers and succeed in business. That is why new entrepreneurs require mentorship. When you get mentored by an entrepreneur, you are likely to entirely change your business strategy and approach to become a successful business owner. Here are ways that having a role model or mentor can be valuable to you and your business regardless of its size.

Gain Experience

Experience is an expensive asset for any new entrepreneur. The chances are that you have read several entrepreneurial books before venturing into a new business to gain experience. But, working with a role model impacts more experience than you get from books. Some experiences are too intimate for entrepreneurs to share in books. But when you talk to your role model in person, you get to know what is not revealed in books. For instance, if you are venturing into the real estate world, your mentor can share insights on how to access and benefit from registered agent services.

Avoid Amateur Pitfalls

Mentorship is vital for new entrepreneurs. A role model can help you to avoid making costly and amateur mistakes that can derail the success of their ventures. Also, mentors act as a guiding light in hiring, business growth, marketing and other vital aspects that help in growing a successful start-up. For instance, studies reveal that several businesses fail during their first year in operation. That’s why new entrepreneurs need a business mentor to help them analyze problems, markets and design a viable solution without failing. Having a mentor could be the difference between succeeding and failing within your first year in business.

Get Inspired

You understand the importance of inspiration if you have been inspired before. It can have a significant effect on your business life too. You need a mentor for inspiration on your emotional well-being. Starting and running a business can be overwhelming to your emotions. And, a mentor inspires you and fills you with clarity and energy. You are likely to work as hard as possible to meet your goals when you get mentored by a successful business person.

Support Network

A strong network is vital to the success of businesses, especially new start-ups. A role model is integral in helping you to build a support network from within your industry and outside. For instance, an engineer is not highly likely to have a background in marketing. That is why you need a mentor to connect you to other people who can complement your skills to succeed in business. Unfortunately, several new entrepreneurs lack this aspect because they don’t have mentors. Such entrepreneurs turn to the internet for business advice, which can sometimes be frustrating. Mentors are well-connected to experts with various backgrounds, and you can get introductions to these professionals to build a strong network.

Tough Times

Entrepreneurs who have ventured into the business world understand the challenges of starting and operating a business. Sometimes it can be overwhelming because you are getting into unfamiliar waters, yet you don’t have someone to guide you. But, you can make things more relaxed than before by having a mentor to learn from and observe. You can talk to your mentor when facing storms in your business venture to get through the challenges. You can study a mentor and reflect on them to realize the tricks they used when they were facing storms in their ventures. You don’t have to have direct contacts with the mentors.

Having a role model in business is not a sign of weakness. It shows that you are keen and dedicated to succeed in business. You can access mentors online or ask for referrals of role models in your sector. It’s wise to invest in the success and growth of your new business.