10 Reasons Why Mentor is Must in Startup Business

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According to the ‘Executive Coaching Survey’ of 2013, 80% of the CEO admitted to have benefitted from the guidance of a mentor. Another research was conducted by Sage and it revealed that 93% of the entrepreneurs believe that startup mentorship is crucial for their success.

Importance of a Mentor in Start-up Business 

  1. Valuable Advice

A startup mentor can analyse the facts from an objective point of view and can provide the entrepreneurs with useful advice regarding their business operations, brand and financial management.

  1. Keeping on the Right Track

An entrepreneur may fail to achieve the goals or more growth due to being busy with running a business. A mentor can keep an entrepreneur on the right track with experts’ advice.

  1. Learn from Their Experience

An entrepreneur can learn from the experience and knowledge of a mentor for startup business.

  1. Breaking Self-Imposed Limitations

A successful businessperson can encourage a new entrepreneur to take calculated risks, to make the best use of his/her potential and resources in order to achieve more growth in business.

  1. Unbiased Opinion

An entrepreneur can receive constructive criticism regarding the overall business operation from a mentor.

  1. Get Through Roadblocks

A business mentor will hold a client accountable for their actions or inactions. Thus, an entrepreneur tends to resolve more issues and accomplish more with a mentor’s guidance.

  1. Introducing Fresh Ideas

A business mentor can encourage the new entrepreneurs to diversify the business and achieve more growth.

  1. Overcome Challenges

Entrepreneurs can confidently navigate through challenges using the insights of mentors.

  1. Building Network

Entrepreneurs may benefit from utilizing the network of a successful business mentor.

  1. Stay Longer in the Game

Entrepreneurs being coached by mentors have been found to successfully run business operations for years.

Essential Role of a Mentor

Business mentors are not just consultants for business plans. They can assist the entrepreneurs by –

  • Developing workable business strategies and assisting with business management
  • Building their leadership skills
  • Empowering them to discover their abilities and insights
  • Listen to their ideas and answering their questions
  • Providing emotional support in difficult times and practicable business advice
  • Challenging them to achieve more growth
  • Identifying resources and developing new contacts

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