Why mentorship is exactly what you need for success?
Is that exactly what each Entrepreneur needs at the beginning of his business path? As an entrepreneur-beginner, I would say without any hesitation that mentorship is one of the most important phases we need to encourage ourselves to become successful.
Mentors are people who already were there, where you are at the moment. They have seen what you see and even more… They thought already about the things you currently do. So, why do we need to make the same mistakes and to stay a step behind? Why are we looking to find a perfect co-founder instead?
Unfortunately, not all of the successful entrepreneurs are ready to confess that they ever had been mentored by somebody who is more experienced. However, that is enough of smart and successful entrepreneurs who are open to sharing their experience and ready to suggest on your way to success.
I am trying to say, that the most successful tech founders had been mentored before they succeed. For instance, Mark Zuckerberg (facebook) was mentored by Steve Jobs. Steve Jobs was mentored by Mike Markkula (an early investor and executive at Apple). And Eric Schmidt mentored Larry Page and Sergey Brin of Google.
Frankly speaking, as as an agency founder, I never thought of having a mentor before. Currently, after 3 years of I am in a field, I realized that having a business mentor in the field was supposed to be the first priority.
That´s why I decided to share my vision of importance to have a mentor.
·1· Mentorship to get a real experience instead of theory.
That is not a secret for any expert of any field that experience is the most precious asset which nowadays is crucial in achieving your business success.
Unfortunately, just following book guidelines or advice is not enough to become successful. Most of the personal experiences may be too intimate that´s why not usually shared. However, giving real cases and how to deal with them — a powerful weapon in an inexperienced entrepreneur’s career.
That’s why the only mentorship is the only guaranteed key to success.
·2· Increase your chances with your mentor.
According to the recent researches in the business world, we can prove that having a mentor is a key factor of success.
Approximately 80 per cent of CEOs said they received some form of mentorship. And 93 per cent of startups admits that mentorship is instrumental to success.
Your chances of success in life and in business can be amplified by having the right mentor. The valuable connections, timely advice, occasional checks — together with the spiritual and moral guidance you will gain from having a mentor — will literally leapfrog you to success.
·3· Professional targeted networking in mentorship.
Aside from the fact that investors usually trust those startups which are referred by their friends, we have to remember that our mentor probably has his business connections. And be sure that a successful mentor has a huge network of people who can benefit your career. Since they are already involved in your business, it makes sense for them to let you tap into their network of investors and useful connections when necessary.
This is an opportunity you cannot have without having a mentorship.
·4· Stay calm and confident in mentorship.
Having a respectful mentor who practically guides you and shares his predictions and expectations with you, expectations which are usually related to their years of experience — that is exactly what encourages you and ensures in your success.
Self-confidence is a twin of entrepreneurship. According to a Telegraph report — having a high self-confidence contributes to career success even more than talent and competence.
I would say that experienced mentors are supposed to lead and help young founders tap into their self-confidence and to see each challenge as an opportunity.
·5· Mentorship to stay in business longer.
If you would know the number of businesses that fail, you’d probably advise the business owners to have mentors.
According to SBA research, 30 per cent of new businesses may not survive the first 24 months, and 50 per cent of those cannot survive the first five years. However, all 70 per cent of businesses which are mentored can surely survive longer than 5 years. That means that having a business mentor 70 per cent increases your chances for success in business.
·6· Develop your EQ in mentorship.
EQ or emotional intelligence is crucial element leading to entrepreneurial success. A combination of a young entrepreneur and a mature and successful mentor as his advisor is a perfect one to achieve a great level of emotional intelligence and makes way easier process of emotion controlling.
That is not a secret for anybody that mixing emotions and business is doomed to fail. Letting yourself or your colleagues to take crucial decisions based on emotional feelings — the biggest mistake ever happened in business and your mentor will probably protect you from that!
·7· Mentorship to encourage yourself as a leader.
Important to admit that your failure-protection on your own can set you back and impact your productivity. Having a mentor during these hard times will surely help you to keep striving for your business idea and to keep your head high. Young entrepreneurs often have to deal with depression, when they are unable to meet the goals and expectations. The impact of depression within entrepreneurs life is often underreported.
However, that is way easier to cope with depressive mood and keep your self-motivated for entrepreneurs who are with mentors than those who are without. Mentored businessmen are struggling much less while they fail by having professional support while the others have to bear the brunt the most by themselves.
In a few words, in addition to the right words to share, experienced mentors would also have some excellent ideas to help you navigate your way to success.