“Every man, however wise, needs the advice of some sagacious friend in the affairs of life,” ancient Roman philosopher Plautus had once said. And, this couldn’t be truer than it is in the world of entrepreneurship.
Friends and well-wishers, especially those senior to you or with more experience, have a very special place in every entrepreneur’s life. Often, these seniors become mentors. That’s what Steve Jobs became to a young Mark Zuckerberg or Warren Buffet means to Bill Gates. So how exactly does a mentor help?
- Fine-tuning your idea
A good mentor, after hearing out your ideas and strategies, will always give you an honest opinion based on his experience. This result in a fine-tuning of your idea before it is heard by an investor, or worse still it gets conveyed to the consumers.
- Brings out the best in you
Other than this, the mentor would also know your best qualities better than you yourself do. And, he will make sure that you make good use of them even if you are not too confident about your own abilities. In essence, a mentor brings out the best in you!
- Networking made easy
Being senior and with more experience in the field, your mentor can be an important link between probable investors, likely employees or anyone else who would be of help to your business. He would only be happy to let you tap into his network.
- Knowledge and experience sharing beyond the books
While doing all this, your mentor will share with you some pearls of wisdom that you won’t find in any book or other resource. Because this is the knowledge that they have acquired by sweating it out in the field. Their experiences become your wisdom.
- Breaks down the reality as is
Life as an entrepreneur is not all peaches and roses. At such times, it pays to have a friend who can tell you as it is. Your mentor could be that friend when the going gets tough.
- Tips for better work-life balance
Entrepreneurs get a bad rep when it comes to giving time to their personal lives. A good mentor can help maintain this delicate work-life balance by helping you get a perspective on what’s important and prioritising the right way.
- A shock absorber in case of failure
Downers and failures are a constant on one’s entrepreneurial journey. Many times, such failures dissuade and break the person going through it. A mentor can act as a shock absorber, helping you face the failures. In fact, he could help you take stock of the situation and learn from it in a manner that you emerge a stronger person.
With so many uses of a good mentor in the life of an entrepreneur, it’s no surprise that the most start-up founders actively look out for people to fill this role up. It is also a proven fact that founders who find mentors are more likely to succeed.