Updated: Jan 2
The secret to success: benefits of a business mentor.
Business isn’t always an easy road to success, but it can be the most rewarding trip you ever take. So why not take your journey alongside someone who knows every hurdle and how to tackle them for the easiest possible journey in business.
Here are 10 benefits of having a business mentor:
1. Mentors are low cost for value in return, making them amazingly priceless in more ways than one.
They are driven by the fulfilment and satisfaction of helping another entrepreneur whilst remembering a similar experience they had when starting their own business. For example, if a mentor can take your business from $50,000 a month to $150,000 a month from you investing into a mentor with $5,000 plus, then the value you received is massively greater than the cost. Mentors see that you investing in your business means you are serious in wanting to take your business to its highest level.
2. Mentors have the wisdom and know-how from experience that you can learn from to prevent making the same mistakes.
Starting a business is demanding and challenging enough if you can prevent doing things the hard way, why wouldn't you? A mentor has been where you are and has made countless mistakes that they can now use as a basis for helping others to avoid any devastating effects, minus the pain and loss of resources.
3. Mentors provide insightful material and usable knowledge.
With a mentor there from the start, you can tap into a wealth of knowledge that can get you up to speed faster whilst shortening the learning curve.
4. Mentors can be connecting links to further contacts.
A mentor can provide access to those within your industry. This could lead to investments in your company, offerings of their skills and expertise, introduce you to talent that can fuel your business and/or help you get closer to your target audience.
5. They have the ability to find ways to trigger our personal and professional growth.
Mentors would also set various goals for you and let you free to see if you can accomplish them on your own, whilst watching from a distance to see how these projects help you to progress. They would then make a point to sit down and tell you what they’ve observed, what they thought was worth keeping and finally what they would immediately get rid of.
6. They can see where we need to boost our performance where we often overlook.
They will always be brutally honest with you and tell you exactly how it is rather than de-emphasise any weaknesses they see in you. This constructive criticism that a mentor will offer would help you to see that you couldn’t recognise.
7. Mentors offer inspiration, assistance and encouragement to help keep us going.
They are there no matter what and offer moral support with heavy cheerleading. There may be times that if there wasn't a mentor there for you, you could have easily given up emotionally, or given up on the business.
8. Mentors enable us to bounce ideas off them for a reality-based opinion.
Without a realistic and meaningful opinion, you may end up pursuing a business idea that has no leg to stand on.
9. They are seen as disciplinarians that create necessary boundaries that we can not set for ourselves.
Mentors give a lot of tough love. They do this because they understand that being an entrepreneur can be challenging when it comes to self-motivation and self-discipline.
10. Mentors are trusted advisers.
As they are an objective third-party with no stake in any idea or venture, they are happy to let you know what they think. In return, you’ll know that they will keep everything you tell them confidential rather than sell it to someone else or steal the idea.
Having a mentor is not a sign of instability; it shows you are resourceful enough and are driven enough to succeed big time and professionals in the industry love to see this.
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