In the field of business, mentors are an invaluable asset to the business. Whether it’s a nascent business or a well -established one, everyone is prone to challenges & obstacles which prevent the businesses from succeeding. Thankfully, there is an underutilized resource out there for small-business owners i.e. working with a mentor.
1. A mentor helps to find the weakness in the business model: As an entrepreneur, sometimes you become overly attached to your business plans and have tunnel vision to the success of their businesses. A mentor helps you look past your limited scope and see the weaknesses in your model and help you capitalize on your greatest resources. Constructive feedback is extremely crucial to keep your business on the right track which comes from the mentors in the best possible way.
2. Higher chances of success: 70% of mentored businesses survive more than five years, which is double the rate of non-mentored small businesses in the same period. Not only is there a correlation between mentorship and success but the benefits of having someone to lean on professionally are equally compelling. This is another good reason to keep your mentors close.
3. An Opportunity to expand business: A good mentor helps you get connected to the required investors, clients, co-founders or contractors who provide valuable service. Therefore, mentors can help you build a strong & essential network which is considered to be a secret weapon in the success of any business.
4. That necessary boost in times of distress: As we know, right motivation can make a world of difference to any individual. Similarly, in businesses too, a good mentor is the best source of motivation who boosts up your confidence & give you the much needed motivation to sail through the toughest time and guide you to put the best foot forward.
5. Necessary methodologies & strategies: A Good mentor can help you provide with useful insights on past experiences and fill-in those knowledge gaps Business mentors can prepare you with a library of methods and strategies which can benefit you as a business owner in the long run. They can not only tell you, from experience, how important it is to create a positive ambience, but they can also give you strategies for doing so.
In the words of Zig Ziglar, American author & motivational speaker ‘Many people went further than they thought they could because someone else thought they could.’
