A mentor is someone who has a greater degree of experience in the entrepreneurial world than you do, and can offer you invaluable business advice over an extended period of time. There are a great deal of advantages to having your own mentor, and it would be almost foolish to turn down the opportunity to gain one, should it present itself. The grand majority of successful entrepreneurs have at some point, if not throughout their careers, had their own mentors to act as a sounding board for their ideas and to indicate the most appropriate path to take. Have a look at one of our previous posts on how a good mentoring program is structured. The process of mentoring is infinitely beneficial, to both mentor and mentee: A mentor will often discover new innovative ideas through their pupil, just as a mentee will always be able to absorb wisdom from their mentor’s vast pool of knowledge.

Five advantages to having a mentor

  • Any mentor will have been around the block a few times. Be smart and learn from others’ mistakes, as well as their successes. Your mentor will likely be infinitely more seasoned in the entrepreneurial world than you, so be sure to take full advantage of his or her knowledge to develop your own.
  • You don’t have to pay a mentor. Money is obviously a major factor, and, as opposed to consultants and life coaches, a mentor will usually offer you their services free of charge; which  leaves you with little excuse not to go and seek one out for yourself!
  • A mentor may be the only one you can turn to at times. Being an entrepreneur and your own boss, it won’t be that easy getting direction or advice on what you need to do. A mentor can provide you with that reassuring second opinion you’ll often need, not to mention emotional support when things seem as though they’re getting out of hand.
  • Your mentor will help you expand your list of contacts. Being a wise and experienced person in the business world, your mentor will more than likely know many influencial people. You will want to meet and get to know such people as well; in this world it’s not what you know, it’s who you know.
  • You can develop a reliable, long-term relationship with your mentor. Bearing in mind that your mentor has no hidden agenda and isn’t going to be trying to scam you, you can be completely at ease with him or her. They won’t be trying to sell you anything or interfere with the running of your business; their only goal is to advise you well and ensure mutual success. This is the ideal foundation for a fruitful relationship. Trust your mentor, listen, learn, and the sky’s the limit.