You need to have a guidance of an experienced person to survive in almost any field of life be it fashion industry, education sector or business. Without a mentor, you always struggle hard to give a direction to your efforts. It is one of the most important aspects of small scales industries. When you start a business with the support and guidance of a good mentor, you not only make wiser decisions but also find it comparatively easy to establish your business. Many young entrepreneurs start small businesses each year and only half of them survive for more than five years. Not having a mentor is one of the most important reasons why these businesses shut down. There are countless benefits of having a mentor:
They have seen it all and done it all
You can learn from the experience of your mentor since they usually have a lot of experience in the same field, which qualifies them to be a guiding light for you. They know all the tricks of the trade and are well aware of all the strategies that give you good results.
Learn from their mistakes
No doubt, you would make many mistakes in your career and would take valuable lessons too. However, what if this learning comes from your mentor since sometimes a wrong decision in business can cost you a lot. A good mentor not only motivates you but also provides you valuable suggestions that he/she has learnt from his/her mistakes. This saves you a lot of time and effort, which you can use to work on other aspects of your business.
Provides a good platform
There is hardly a guarantee that established businesses accept your business proposal since no one really wants to take a risk with a rookie. There would be no surprise if they do not return you phone calls and toss you email on to the pile of spam. Having a mentor by your side would be an advantage in that case. You can use his/her reputation to fix business meetings and appointments with business tycoons.
Keep yourself ahead of you competitors
Your competitors even if they do not have a mentor may have an upper hand since they must be having well-established businesses. Competing with them without the help and guidance of a good mentor sounds too good to be true.
Saves you a lot of time and effort
You may be have a degree in business administration and must be having tons of books in your personal library but that may not be enough. You would not want to shuffle pages of a book or read business review on web when you are stuck. The fact is that no one can guide you the best but a mentor who has had a firsthand experience of it all.
Utilize the social network
A good mentor can get you some good opportunities to establish you business. When you do it on your own you usually take a good amount of time to make decisions and even after that there are less chances of success. Research says that the 10 % of employee based firms close each year, which restricts your chances of success without a mentor.
With a good mentor to back your decisions you have no or less chances to quit. It is important to hold on to things for quite a while to get success, which stands true for business too. At each step of your life you need someone who believes in you and enlightens you with his/her own experience.
Having a mentor who once had been a successful entrepreneur gives you the confidence that you would make your own identity among all. A mentor is the missing like between an entrepreneur and his/her success.