May 22, 2024

3 Reasons You Need a Mentor for Entrepreneurial Success

Mentors are one of the most priceless possession any entrepreneur can have. As they in the position of a mentor have been there, have done that, and have experienced what all we have set onto doing and accomplishing. But despite that fact many entrepreneurs today start their careers without a mentor.

On the other hand, if you look at the most successful tech giants such as Facebook’s founder Mark Zuckerberg, he was mentored by Steve Jobs founder of Apple Inc., and Steve Jobs himself was mentored by Mike Markkula who was an early investor and executive at Apple and we can find an example of many such successful mentee and mentor relationships.

Jim Rohn an American entrepreneur, author, and motivational speaker rightly said, “My mentor said, ‘Let’s go do it,’ not ‘You go do it.’ How powerful when someone says, ‘Let’s!'”

These words of Jim Rohn reflect how imperative is the support and aid of a mentor. In order to shed some more light on the same here are 3 reasons having a mentor is important.

Gain experience not shared in books:

One of the key aspects of entrepreneurial success is gaining experience. If we go about reading books with regard to a person’s life experience there are certain limits to it, from what we can do and learn. As there is always an unstated truth that probably most authors do not feel like telling about themselves in the book. It can be because they may not feel comfortable with it or due to some other reason. But in a mentee-mentor relationship, we can get to know and learn from some of the most intimate experiences that can help us a lot in our early-stage of career. This is one of the best and guaranteed ways to gain from the experience of others and grow on the path of our success.

For instance, we can look at Sam Mizrahi the serving president and the founder of Mizrahi Developments, a Toronto-based real estate development company that specializes in catering to the luxury market. Today, much of Sam Mizrahi and his team’s focus is directed toward the development of The One, Toronto’s first supertall skyscraper, which is located at the intersection of Yonge and One Bloor West streets in downtown Toronto. That can be attributed to the excellent mentorship of many experts that guided him throughout.

You’re more likely to succeed with a mentor:

According to a study by executive coaching survey, it was found that 80% of successful CEOs admitted that they received mentorship in some form. In another study conducted by Sage, it was revealed that 93 percent of startups admit that mentorship is instrumental to success. Hence it is evident from these studies and research that with my mentor chances of success can exponentially grow. This is because of mental orders with his/her valuable connection, wise advice along keeping a check on our strengths and weaknesses.

Apart from these their moral support and guidance can give us a push in the right direction and help us at the time when we need someone to have our back.

A mentor gives you reassurance:

A powerful and positive lasting impact is created by a good mentor on a young entrepreneur. This can be very encouraging and helpful for a young entrepreneur that is getting exposure to all the new challenges and hurdles in its path. Knowing that someone is looking behind and will act as a buffer even if we take a free-fall gives us assurance and boost our self-esteem to charter into new territories and take the risk that we would not have taken otherwise.