It’s difficult to grow as an entrepreneur when you don’t have a mentor leading the way. Business is about making the right decisions and if you’re a neophyte in the game, you’re prone to errors and mistakes. Think of a business mentor as a guiding light that will help you navigate the murky waters of the entrepreneurial world.
But there’s more to working with a mentor than just improving your decision-making skills. In fact, a mentor can help you generate dynamic results in more ways than one. Here’s how you can improve your output and become more successful with a business mentor on your side.
1. Cuts down the learning curve
The truth is that there’s no real formula for succeeding in business. No guide book out there will guarantee 100% results as each entrepreneur will have to learn through hardships and experience. But what if you had someone who can show you the ropes? Someone who’s been through the so-called ringer and teach you how to roll with the punches?
Having a business mentor can drastically shorten the learning curve since they’ve been through the journey before. They know which methods will work best for what and how you can avoid some common pitfalls that most newbies fall into. They’ll teach you how to take risks — calculated risks that come with fewer chances of failure.
2. Expands your network
Business mentors are well-connected and they have a vast network of individuals that share the same goal as them. Oftentimes the mentees (you) get connected with these people and it’s a great way to skip the proverbial line. A way to expand your own network if you will. You’ll learn what makes those people successful and how you can replicate their success. What are the benefits of having a large network in business? You get more opportunities and you’ll reach people far quicker than you would by yourself.
3. You gain valuable insight
They say experience is the best teacher and for business mentors, they have plenty of it. They pass down their learnings to you so you can gain new insights and be more knowledgable in your approach. How do you position your product/service? What’s the best marketing strategies you should employ? A mentor can provide actionable information that will help you grow and move forward with your business goals.
4. Allow you to explore ideas
Business mentors can help you look at things far more objectively. They’ll be honest with you on whether your business idea will work or not. They know because they’ve sampled markets before and have done test conversions to understand the cause and effect of a business decision. If they think your idea is worth a shot, they’ll help you test it out. If not, they’ll offer you suggestions that have a higher chance of working.
5. Asking for help
Sometimes it can feel disconcerting to ask for help, especially if you’re struggling to keep your head above water. But that’s something your business mentor doesn’t want you to feel because it makes things even more difficult. They understand that everyone suffers and fails. They know that you’ll eventually make mistakes along the way, and they won’t shame you for it.
One of the positives about having a mentor is that there’s always that person whom you can ask for help, one that won’t hesitate to give you a helping hand when you need it the most.
6. Learn from their mistakes
Even the most successful entrepreneurs make mistakes. Heck, even your mentor has had their fair share of downfalls too. Thus, they can offer advice based on those mistakes and tell you what to do and what to avoid. Learning from their mistakes can help you progress in your career much faster and help you avoid major setbacks.
7. Teaches you to be accountable
One of the hallmarks of a successful entrepreneur is knowing how to be accountable. Business mentors train your mind to be responsible for your own actions and decision-making. It’s easy to point fingers and blame someone when things go south, but only weak-minded people do that. Once you’ve learned how to own up to your mistakes, you can make smarter choices that lead to positive outcomes.
8. Your own private cheerleader
Business mentors want their mentee to excel in their given field. They’ll cheer you on when you’re doing great and pick you up when you’re falling behind. Entrepreneurship can be gruelling and there will be days where you’ll feel down and out. When you don’t feel like putting in the effort, having a mentor can ignite a spark in you and help you push forward.
9. Boosts your credibility
Connections mean a lot in business and in some cases, your mentor can help you land a high-profile client. If you manage to grab a well-known individual in your corner, you can expect it will boost your credibility to new heights. Your mentor will be thrilled to see you build your credentials and expand your portfolio for your next business venture.
10. Sharing knowledge with each other
In a cut-throat world of business that we operate in, having the ability to share knowledge with your mentor and receiving honest feedback is a huge blessing. Exchanging thoughts and ideas with your mentor allows you to explore new opportunities that you wouldn’t have considered without expert advice.