Some entrepreneurs may look at their success and think it insulting to consider talking to a business mentor. And others may look at their struggles and think it’s the only solution to getting the business back on its feet. Neither of these views are correct in terms of what a business mentor can do for a business.
What a business mentor is
Before we get into reasons why, we need to clearly define what a business mentor is and that should already start clearing up the reasons why you’d need one. A business mentor is a well-established person in an industry who offers to impart their knowledge and experience to lesser experienced entrepreneurs and employees.
One could consider business mentors as a more personal relationship than one would have with a business consultant, but just as beneficial (if not more). Business mentors are basically business consultants, except you don’t (always) have to pay for their advice and mentorship. It’s a mentorship relationship and partnership. So, regardless of who you are and how successful your company is, every entrepreneur needs a business mentor and here’s why.
There will never be “nothing more to learn”
At no point in any person’s life will they be able to say “I know absolutely everything and there’s nothing more for me to learn”. It may feel that way, but sit down with a business mentor for five minutes and your mind will be swirling with questions. We learn something new every day and with the help of a business mentor, the “something new” will always be related to business and have the potential to lead to business success. Isn’t that something that every entrepreneur dreams of?
There will always be something for entrepreneurs in every industry to learn. Technology is forever developing and providing new innovative ways for industries to work and that’s something entrepreneurs need to stay on top of.
Every bit of experience is beneficial
Now, you may be wondering how a business mentor can help when the years of experience they offer is from a time period where technology wasn’t as great a factor as it is today. And the answer is consistency. While the face of the world changes, there are certain constructs that remain exactly the same and business mentors will be able to teach you about these fundamentals that consumers rely on and need in order to adapt to the changing world.
Every bit of experience that mentors offer their mentees is valuable and beneficial. Entrepreneurs are usually so caught up in the bigger picture that they forget about the smaller, background details that are, in fact, the cornerstones of that end goal. Mentors have been there, made those mistakes and are here to make sure you don’t go down the same paths that caused them business trouble.
So, while their information may seem “outdated”, basic principles never change and should not be overlooked.
Everyone needs a support system
Having the weight of the business rest on your shoulders can be a mentally and emotionally draining responsibility. Entrepreneurs don’t only look to business mentors for advice but for support as well.
Everyone needs a support system and, in business, this means having a mentor. Someone who can back up the difficult business decisions you make and who can listen to the inevitable ranting sessions that follow a rough day in the office. They’re also someone to let you know that you’re doing a better job than you give yourself credit for and someone who can talk some sense into you when you go off the rails a little bit (this happens to all entrepreneurs, don’t worry).
It opens doors to networking opportunities
Generally, business mentors have been in the game for years. And over all those years they have met with some of the most influential people in the industry and business world. Every entrepreneur needs a business mentor even if it’s only for the networking opportunities that come with the relationship.
Business success, these days, is highly influenced by who you know and the importance of networking is not something that entrepreneurs can dismiss. Your business mentor will be able to introduce you to the biggest names in the industry and get you into networking events where you will have the opportunity to meet new people who can help you on the path of innovation.
You need someone to challenge you
Speaking of innovation, another reason why you need a business mentor is so that you have someone who is knowledgeable about the industry to challenge you. Through challenges, you’ll be forced to think about business in a new way and create innovative ways of dealing with standard business issues.
The problem many successful entrepreneurs have is that they tend to stick with what works and choose not to push any boundaries for fear of failure. That type of thinking will only get you so far in the business world and then your competitors will be overtaking you. Any business mentor will be able to explain to you why failure isn’t always a bad thing and that by challenging yourself and innovating, you’re growing. There’s no success to be found when you’re standing still.